The Economist Intelligence Unit just dropped its annual Cost of Living report, which examines the world’s most and least expensive cities by looking at factors including food costs, fuel costs, and salaries.
Cities are ranked in comparison with New York City. New York receives an index score of 100, with cities more expensive than the Big Apple scoring over 100, and those that are cheaper getting less than 100. This is the so-called WCOL (World Cost of Living) Index.
Traditionally, European cities have been the world’s most expensive, but in recent years, the cost of living in Asia’s hub cities like Singapore, Shanghai and Hong Kong has surged, and Asian cities now make up five of the top six most expensive places on earth.
However, European cities remain expensive globally. As a result, Business Insider decided to look at the cities in western Europe that are the most costly. The list reads like a who’s who of Europe’s most important cities, although London — traditionally one of the most expensive places on the continent — has seen its cost fall significantly since Britain voted to leave the EU.
“The devaluation of the British pound in 2016 prompted a sharp fall in the relative cost of living in UK cities,” the EIU’s report notes.
Check out the list below.
T=16. Brussels, Belgium — The Belgian capital scored 81 in the WCOL index, and ranked 39th overall in the world.
T=16. Barcelona, Spain — With a reputation as a hub for tourists, Barcelona is often seen as a cheap holiday destination. However, living in the city is pricey. It has fallen one place in this year’s overall ranking though.
T=16. Dusseldorf, Germany — In a recent ranking, Dusseldorf was rated the 6th best city in the world in terms of quality of life. That quality comes at a price however, and the city is one of Europe’s most expensive.