Beirut now 3rd most expensive city in the world, Dubai only 42nd

, Beirut now 3rd most expensive city in the world, Dubai only 42nd
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, Beirut now 3rd most expensive city in the world, Dubai only 42nd

Beirut is now the third most expensive city in the world for expats according to a new list while Dubai has slid down to 42nd.

The top three most expensive cities for expats were Ashgabat in Turkmenistan, Hong Kong, and Beirut according to the annual Cost of Living survey by global consultancy Mercer.

Beirut jumped 42 places to become the third most expensive city. This was due to ‘severe and extensive economic depression’ including the ‘financial crisis, Covid-19 and the Port of Beirut explosion in 2020.”

There was better news for Dubai residents, however. The city dropped to 42nd in the rankings, down from 23rd last year. Abu Dhabi meanwhile fell to 56th.

This is thanks to an increased ‘diversification of the UAE’s economy, which reduced the impact of low oil prices on gross domestic product, and subsequently deflation, Mercer said.

The survey ranked 209 cities on a range of costs including housing, food and transportation.

And they show how big an effect Covid-19 has had on countries and cities.

Top 10 most expensive cities.

  1. Ashgabat
  2. Hong Kong
  3. Beirut
  4. Tokyo
  5. Zurich
  6. Shanghai
  7. Singapore
  8. Geneva
  9. Beijing
  10. Bern

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The post Beirut now 3rd most expensive city in the world, Dubai only 42nd appeared first on DubaiLAD.com.

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