2017全球城市生活成本调查（英文版）_12页_1mb

Worldwide Cost of Living 2017 Summary

Core Content

The Worldwide Cost of Living 2017 report by The Economist Intelligence Unit provides an analysis of the cost of living across global cities, highlighting trends and changes in price indices over the past decade. The report compares cities based on a wide range of categories including food, drink, clothing, transport, and utilities, with New York as the base city (index = 100).

Main Findings

Top 10 Most Expensive Cities

• Singapore retains its position as the world's most expensive city for the fourth consecutive year with a WCOL index of 120.
• Hong Kong and Zurich are second and third, respectively, with indices of 114 and 113.
• Tokyo and Osaka have returned to the top ten, with Tokyo at 110 and Osaka at 109, due to the recovery of the Japanese yen.
• Seoul is the sixth most expensive city with an index of 108.
• Geneva and Paris are joint seventh and seventh, with indices of 107.
• New York is now in ninth place with an index of 100, while Copenhagen is also in ninth place.

Cost of Living Trends

• The global cost of living index increased slightly to 74% (New York = 100), up from 73% last year, but remains significantly lower than the 93.5% recorded five years ago.
• The US dollar's weakening has led to a drop in New York's ranking, while currency appreciation in countries like Australia and New Zealand has pushed their cities into the top 20.
• Asian cities dominate the top ten, accounting for 50% of the most expensive locations, while Western Europe accounts for 40%.
• China's cities have seen a decline in their cost of living rankings due to weakening consumption growth and renminbi devaluation.

Bottom 10 Cheapest Cities

• Almaty (Kazakhstan) is now the cheapest city with a WCOL index of 38.
• Lagos (Nigeria) is second with an index of 39.
• Bangalore, Chennai, Karachi, Mumbai, and New Delhi (India) make up half of the ten cheapest cities.
• Kiev (Ukraine) and Bucharest (Romania) are also among the cheapest, with indices of 47.
• The relative cost of living in some of these cities has dropped significantly over the years, especially in Lagos, where it has more than halved since 2008.

Key Insights

• Currency fluctuations significantly impact the cost of living. For instance, the Japanese yen's recovery boosted Tokyo's ranking, while the Nigerian naira's devaluation reduced Lagos' cost of living.
• Commodity prices, particularly oil and food, continue to influence global cost of living trends. The rebound in commodity prices is expected to push up costs in many cities.
• Political and economic instability can lower the cost of living but also increase risk and lower liveability, as seen in Lagos, Almaty, and Kiev.
• Emerging economies are expected to become relatively more expensive as economic growth and commodity prices recover, but this is a long-term trend.
• China's cities have fallen further in the rankings due to economic slowdown and devaluation.
• Asia's dominance in the most expensive cities contrasts with South Asian cities being among the cheapest.

Cost of Living by Category

Summary of Key Movements

Cities Moving Up

• São Paulo and Rio de Janeiro (Brazil): Both have risen significantly due to currency recovery and inflation.
• Wellington and Auckland (New Zealand): Appreciation of the New Zealand dollar has pushed them up the ranking.
• Brisbane and Adelaide (Australia): The Australian dollar has also appreciated, leading to increased rankings.
• Istanbul and Montevideo (Uruguay): These cities have moved up due to currency appreciation and economic factors.

Cities Moving Down

• Manchester (UK): The British pound's devaluation led to a sharp drop in its ranking.
• London (UK): Also affected by the pound's devaluation, it fell to 24th.
• Buenos Aires (Argentina): Devaluation of the peso pushed it down.
• Beijing, Suzhou, Guangzhou, Tianjin, Dalian (China): All have dropped significantly due to economic slowdown and currency devaluation.
• Lusaka (Zambia): Previously the cheapest city, it climbed due to inflation.

Conclusion

The report underscores the dynamic nature of the cost of living, influenced by currency fluctuations, commodity prices, and political/economic stability. While Asia and Western Europe continue to dominate the expensive and cheap cities rankings, global trends suggest that economic growth and recovery will likely shift these rankings in the future. The Economist Intelligence Unit provides detailed data and analysis to help businesses and individuals make informed decisions about cost of living allowances, market entry, and investment strategies.