Istanbul’s 58th place of the most expensive cities of the world
According to the latest analysis and research on economics and business called “The Economist Intelligence Unit” report, issued in London, Istanbul is more expensive to live in than Miami, Bangkok, Lisbon and Pekin, and cheaper than Athens, Washington and Manchester.
The capital of Turkey which used to be ranked at the 28th place of the list, due to exchange rate fell by 30 points this year to the 58th place, states the report.
Due to the recession on the euro zone, Switzerland has gained the power with its currency. That is why the first place of the most expensive cities belongs to Zurich this year. The last one is taken by Karachi, Pakistan.
The report is published every year based on the comparison of the prices of 160 products and services of 140 countries. According to the report, the world’s most expensive Top 10 cities is as follows: Zurich, Tokyo, Geneva, Osaka, Oslo, Paris, Sydney, Melbourne, Singapore and Frankfurt.
The top 10 of the cheapest cites in the world includes: Mumbai, Tehran, New Delhi, Jeddah, Panama City, Kathmandu, Algeria, Dhaka and Muscat.
February 16th, 2012