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- Along with Hong Kong, Zurich and Paris are the most expensive cities in the world to live in, according to a study by the business magazine “The Economist”.
- Laut dem 2020 world cost of living report, The link opens in a new window of the magazine, Zurich is far ahead, among other things, because the franc has strengthened against the US dollar during the crown crisis.
- Singapore is in fourth place, followed by Osaka and Tel Aviv in fifth place.
The impact of the coronavirus on the dollar is the main cause of the cost of living in many countries, according to the report. “As a result of the Covid-19 pandemic, the US dollar lost value, while the currencies of Western Europe and North Asia appreciated, with consequences for the prices of goods and services,” said Upasana Dutt, one of the authors. of the poll.
Geneva in seventh place
“Paris, Zurich and Hong Kong have risen to the top of the rankings due to the rise of the euro and the Swiss franc against the dollar,” the authors of the report note, adding that prices in Singapore, in particular due to lower demand for a The emigration of foreign workers has decreased.
In Osaka, “consumer prices have stagnated and the Japanese government has subsidized costs such as public transportation,” according to the report. In America, New York dropped one place and now ranks seventh with Geneva. Los Angeles fell back to ninth place, at the level of Copenhagen.
The cost of living has also fallen everywhere as employees who stayed home due to measures to contain the corona pandemic have postponed buying new clothes. In contrast, the rise in home offices has led to an increase in purchases of electronic products, the product category that has seen the largest price increase according to the study.
