DURBAN - Numbeo have released their Cost of Living Index 2018 Mid-Year which ranks the most expensive cities in the world to live and five South African cities are featured on the list.
The index compares the cost of living across the world relative to New York City. New York City has an index of 100 (100%). If, for example, the rent index of another city is 120, this means that on an average in that city the rents are 20% more expensive in comparison to New York City.
However, if a city has a rent index of 70 that means that on an average the rent in that city is 30% less expensive than in New York City.
The index looks at the relative cost of various categories including rent, groceries, restaurants
and local purchasing power.
In South Africa, Pretoria with a ranking of 45,89 is the most expensive in the country. Pretoria is followed by Johannesburg and Cape Town with indices of 45,51 and 41,58 respectively.
On the global ranking, South Africa's top three most expensive cities Pretoria, Johannesburg and Cape Town are in positions 352, 357 and 384 respectively.
Below is a table that shows South African cities with the highest cost of living:
On a global Hamilton, Bermuda was ranked as the most expensive city. The cost of living in Hamilton is 38% higher than the cost of living in New York City.
The rest of the top five slots were filled by cities in Switzerland including Zurich, Basel, Lausanne and Bern.
In sixth place was Geneva, Switzerland followed by Reykjavik, Iceland and Lugano, Switzerland.
Completing the top 10 cities ranked on the Cost of Living Index 2018 Mid-Year was Stavanger, Norway and Oslo, Norway.
All of the cities mentioned above had a cost of living index score of more than a 100.
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