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The coronavirus pandemic: in which cities has life increased?

The Economist Intelligence Unit, a research group, studied the price levels in the world’s largest cities to find out how the situation has changed with the onset of the coronavirus pandemic.

Paris and Zurich rose four positions, ahead of Singapore and Osaka.Japan), and joined Hong Kong's permanent leader. Now three megacities top the world’s top cities with the highest cost of living.

The fourth place is occupied by Singapore. Tel Aviv Osaka fifth, Geneva and New York seventh, Copenhagen and Los Angeles ninth.

Tehran showed the largest growth, moving from 106th place to 79th. This is due to the withdrawal from US sanctions and the start of oil supplies abroad.

Australian Perth, Guangzhou, Belgrade and Abidjan also rose in price for life in 2020.

In Reykjavik, prices fell the most: the capital Icelandic It dropped from 27th to 56th place.

The two Brazilian cities of São Paulo and Rio de Janeiro fell 23 places, which analysts said was due to a "weak currency and rising poverty rates."

Experts attribute large changes in the rating compared to previous years to the weakening of the US dollar, while the currencies of Western Europe and North Asia were able to strengthen. This led to a change in the prices of goods and services.

The growth of European currencies against the US dollar also caused prices to rise in Western Europe, and in the Americas, Africa, and Eastern Europe they decreased.

Lockdowns, curfews, remote work have raised prices for consumer electronics, and home delivery services have taken the place of restaurants for most middle-class families.

The largest increase in prices fell on the category of household goods, including electronics, as many people are forced to leave offices and move to home computers. This lifestyle has caused prices to fall in the “clothing” category.

The results of the study allow us to draw some conclusions:

Most people in the world will focus their spending in 2021 on staple foods, home entertainment and fast internet access.
In conditions of low demand, prices will continue to show negative dynamics;

Source: turizm

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