World's most expensive city in 2019 is a 3-way tie

3 Indian Cities Among Cheapest To Live In Says Cost Of Living Survey

The cost of living in Istanbul has fallen sharply over the previous year, taking the city to 120th place in a list of most expensive cities around the world, down from 44th, according to the Economist Intelligence Unit's (EIU) bi-annual survey of 133 cities released on March 19. Asian and European cities again claimed several spots in the top 10 this year.

The average cost of a haircut in Paris is $119.04 as compared to $763.97 in Zurich and $53.46 in Japan's Osaka.

Dublin has ranked 19th in the list of the world's most expensive cities.

Two U.S. cities also made this year's list: NY tied for seventh place with Copenhagen, Denmark, and Seoul, South Korea; Los Angeles came in tenth place along with Tel Aviv, Israel.

There's not just one most expensive city this year, but three.

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Rising costs in cities are often driven by a vibrant job market attracting skilled workers with high wages, said Anthony Breach, an analyst with the British think tank Centre for Cities - which was not involved in the study.

Meanwhile Turkey's Istanbul has become considerably less expensive, dropping 48 places to joint 120th on the list - due in part to the decrease in value of Turkish lira.

Moving up the list is Bulgarian capital Sofia, which has climbed 29 spots to shared 90th position, thanks to an increase in the price of groceries, utilities and recreation.

"We note converging costs in traditionally more expensive cities like Paris, Singapore, Zurich, Geneva, Copenhagen and Hong Kong". On the flip side, numerous cheapest cities to live in are experiencing some form of political or economic disruption, which means they're less livable and carry a level of risk, per the BBC.

The world's cheapest cities include Caracas (Venezuela), Damascus (Syria), Tashkent (Uzbekistan), Almaty (Kazakhstan), Karachi (Pakistan), Lagos (Nigeria), Buenos Aires (Argentina) as well as Bengaluru, Chennai and Delhi.

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