The World Cost of Living Survey 2019 was conducted by the Economist Intelligence Unit and revealed which are the most expensive cities in the world, where Mexico City occupies the 58th place and is the most expensive city in Latin America according to the study.
Mexico City is the most expensive city in Latin America
The CDMX outperforms other cities in the region such as Montevideo, Uruguay, and Guatemala City, which are ranked 72nd in the ranking; 76 Santiago, Chile, and Lima, Peru; further down are San José, Costa Rica; Quito, Ecuador; Bogota Colombia; Sao Paulo and Rio de Janeiro in Brazil; Buenos Aires, Argentina.
For the first time, three cities share the podium as the most expensive
For the first time in its 30-year history, the World Survey on the Cost of Living gave the title of the most expensive city in the world to three cities. Singapore marks its sixth consecutive year at the top of the table and is joined by Hong Kong and Paris.
The survey compares the prices of 160 products and services to mark the costs of living and uses the city of New York, USA, as a reference.
Two Swiss cities, Zurich and Geneva, and Osaka in Japan also have higher prices than New York; Copenhagen and Seoul cost the same as the "Big Apple".
Here are the top 10 most expensive cities in the world:
Hong Kong (China)
Seoul, South Korea)
New York (EU)
Tel Aviv (Israel)
Los Angeles (EU)
Caracas the cheapest city in the world
The ranking also lets us see which are the cheapest cities in the world, according to the article, in some places, inflation, devaluations and economic turbulence caused the cost of living to fall, for example in Argentina, Brazil, Turkey and Venezuela they collapsed in the ranking.
The monetary crisis in Turkey and the increase in consumer price inflation caused Istanbul to fall 48 places to position 120. But Caracas in Venezuela claims the title of the cheapest city in the world, thanks to hyperinflation and the fall of bolivar.
Here the 10 cheapest cities in the world:
Buenos Aires, Argentina)
New Delhi (India)