The most expensive cities in the world – level 1
New York is no longer the most expensive city to live in. Singapore and Zurich are now the top two.
This is according to the EIU index. It looks at prices for things like transportation, rent, food, and alcohol in 173 cities worldwide. Geneva, New York, and Hong Kong are also very expensive places to live. The global prices go up by 7.4% when we compare them to the previous year. Food prices are also rising. Travel prices are going up because more people want to travel after the pandemic.
For 2024, the EIU thinks that prices will go up, businesses will slow down, and people will buy less.
Difficult words: index (a number or symbol which helps us measure something), transportation (moving things or people from one place to another), rent (money which someone must pay every month for using a house or flat).
You can watch the original video in the Level 3 section.
What factors contribute to the rising cost of living in cities like Singapore and Zurich according to the EIU index?
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