The Economist Intelligence Unit (EIU) has recently released the 30th edition of Worldwide Cost of Living 2020 index. The index reflects how the COVID-19 pandemic has changed the cost of living in 133 cities around the world since the start of 2020.Here we have covered the ten most expensive cities in the world this year. Take a look.Source: The Economist Intelligence Unit
Zurich (Switzerland)Zurich, the largest city in Switzerland, is number one in the list of world's most expensive cities 2020. Prices have primarily risen due to currency volatility, supply chain problems, the impact of taxes and subsidies, and shifts in consumer preference during the coronavirus pandemic.
Paris (France)Paris shares the top spot in list of world's most expensive cities with Zurich. Supply chain problems, decline in disposable income and changes in lifestyle have been listed as the reasons behind rise in prices.
Hong Kong (China)Hong Kong also ranked first among the world's most expensive cities, according to EIU's Worldwide Cost of Living 2020 index.
Singapore (Singapore)Singapore is the fourth most expensive city to live in globally after Zurich, Paris and Hong Kong. The city topped EIU's list of most expensive cities in 2014, and continued to hold the title for the next five years.
Tel Aviv (Israel)Tel Aviv in Israel is in fifth position on EIU's Worldwide Cost of Living 2020 index.
Osaka (Japan)Osaka in Japan shares the fifth rank in EIU's Worldwide Cost of Living 2020 index with Tel Aviv.
Geneva (Switzerland)Geneva is at number 7 this time in EIU's Worldwide Cost of Living 2020 index.
Copenhagen (Denmark)As per the latest Economist Intelligence Unit index, Copenhagen is ninth among the cities with the highest cost of living in the world. The Worldwide Cost of Living 2020 index reveals that the Danish capital has moved up two spots this year.
Los Angeles (US)Los Angeles is also at ninth rank in EIU's list of most expensive cities in 2020.