Moscow Climbs 15 Places in Ranking of World’s Most Expensive Cities

PHOTO by Serjio74b / Depositphotos

Moscow is the 98th most expensive city in the world to live in, according to the Worldwide Cost of Living 2017 study conducted by the Economist Intelligence Unit agency, or EIU. Russia was one of the ranking’s leaders in terms of growth compared to last year.

For the fourth year in a row, Singapore remains the most expensive city in the world while second place went to Hong Kong, followed by Zürich in third. Tokyo, Osaka, Paris, New York and Copenhagen also were in the top ten.

Last place in the study’s rankings at 133rd was occupied by Alma-Ata, the former capital of Kazakhstan.

Twice a year, EIU analysts compare prices for 160 types of goods and services such as food, drinks, clothing, rental prices and other expenses to compile the rating.

In early March, analysts at Savills ranked cities with the highest costs for maintaining and providing jobs for employees of foreign companies. Moscow finished 14th on the list since according to experts, the cost of renting housing and office space for one employee of a foreign company in Moscow exceeds 2.5 million roubles ($44,700) per year.