The 2020 results of the Cost of Living Survey conducted annually by the international management consultancy firm Mercer have been announced. Accordingly, Hong Kong, which has recently witnessed violent protests, is the most expensive city in the world. The second place in the list was Ashgabat, the capital of Turkmenistan.
The Cost of Living Survey conducted by Mercer for the 26th time this year was announced. In the study covering 209 cities on 5 continents, the most expensive city in the world was once again Hong Kong. In the second step of the list, Tokyo, the capital of Japan, followed Ashgabat, the capital of Turkmenistan.
So why is Ashgabat so expensive? Within the scope of the research, Mercer measured the comparative cost of more than 200 elements in each city such as housing, transportation, food, clothing, household goods and entertainment, and Turkmenistan's excessive inflation and a significant economic and social crisis. It gained its independence after the collapse of the Soviet Union in 1991.
Ashgabat, the capital of Turkmenistan and fighting the economic crisis, is in the second stage of the list.
Emphasizing that the decrease in energy prices and the increase in the prices of imported food products make the country's economy difficult, the company states that this situation increases the supply-demand balance. In Turkmenistan, which is rich in natural gas, services such as water, natural gas and electricity, which have been used free by the people since 1991, were charged in June 2017.
If we go back to the list; We see that New York, which is the fourth in Switzerland's capital Zurich, the fifth in Singapore, and the ninth in the past year, is in sixth place by rising three places. The most expensive cities in the USA after New York are Los Angeles (16) and San Francisco (17). According to the 2020 results of the Cost of Living Survey, Africa's most expensive city was the capital and largest city of Chad, Ndjamena.
Zurich received the title of the most expensive city in Europe in 2020. Using it, other cities of Switzerland were followed by Bern (8) and Geneva (9). According to Mercer, the high value of the Swiss franc lies beneath these three cities as the most expensive cities.
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