Lisbon is no longer one of the 100 most expensive cities in the world

Fri 12 Jun 2020

The cost of living in Lisbon decreased in 2020. Lisbon fell 11 places in the "Cost of Living 2020" ranking, and is now the 106th most expensive city in the world to live in, in a total of 209 metropolises. In the top 10 of the list are six Asian cities, with Hong Kong once again leading the table. Tunis, on the other hand, occupies the last position in the ranking.

The second most expensive city for expatriates is Ashgabat in Turkmenistan, while Tokyo (Japan) and Zurich (Switzerland) remain in 3rd and 4th place respectively. Next in order are Singapore (Singapore), New York (USA), Shanghai (China), Bern (Switzerland), Geneva (Switzerland), and Beijing (China).

The study, which was developed to help multinational organizations and governments define compensation strategies for their expatriate employees, uses New York (USA) as the base city for all comparisons.

"The study includes more than 400 cities around the world. This year's ranking includes 209 cities across five continents and analyses and compares the costs of more than 200 items at each location, including housing, transportation, food, clothing, household goods and entertainment," Mercer said in a statement.

The Covid-19 pandemic had an impact on this year's study: "Border closures, flight disruptions, mandatory confinement and other short-term disruptions have affected not only the price of goods and services, but also the quality of life of expatriates. (...) "The sudden changes in exchange rates were mainly driven by the impact that Covid-19 is having on the global economy. This volatility can affect the mobility of employees in various ways, from scarcity and adjustment of prices of goods and services to interruptions in supply chains (...)", said Tiago Borges.

Read the original Portuguese article here.

 

Photo by James Dimas on Unsplash

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