Despite what you might have heard, Reykjavík is NOT the most expensive city in the world! In fact, the small capital city of Iceland is more affordable than the capitals of both Norway and Denmark, Copenhagen and Oslo, as well as major European cities like Paris, Zürich and Geneva.
14th most expensive city in the world
Reykjavík is the 14th most expensive city in the world to live in, and the sixth most expensive city in Europe, according to The Economist. Reykjavík shares the 14th spot on the list with Los Angeles. New York, which is ranked as the most expensive city in the US ranks as the 13th most expensive city in the world.
Read more: Why are hotels in Reykjavík so expensive? Simple: Supply and Demand
The most expensive city in Europe is Paris, followed by Zurich, Oslo, Geneva and Copenhagen. The most expensive city in the world, the fifth year running, is Singapore.
The ranking is based on the Worldwide Cost of Living Survey from The Economist Intelligence Unit. The survey compares the price of over 150 items in 133 cities around the world, including the cost of housing, major consumer goods and the price of operating a car in the city. The index uses New York as the benchmark, comparing the cost of loving in other cities to that of New York.
Last year Reykjavík came in as the 16th most expensive city in the world. The climb of two spots on the list can be explained by the appreciation of the Icelandic currency the Króna, which has appreciated significantly in the past two and a half years. As the Króna has increased in value the prices of goods and services in Iceland, calculated in US Dollar, have risen.
Despite what you might have heard, Reykjavík is NOT the most expensive city in the world! In fact, the small capital city of Iceland is more affordable than the capitals of both Norway and Denmark, Copenhagen and Oslo, as well as major European cities like Paris, Zürich and Geneva.
14th most expensive city in the world
Reykjavík is the 14th most expensive city in the world to live in, and the sixth most expensive city in Europe, according to The Economist. Reykjavík shares the 14th spot on the list with Los Angeles. New York, which is ranked as the most expensive city in the US ranks as the 13th most expensive city in the world.
Read more: Why are hotels in Reykjavík so expensive? Simple: Supply and Demand
The most expensive city in Europe is Paris, followed by Zurich, Oslo, Geneva and Copenhagen. The most expensive city in the world, the fifth year running, is Singapore.
The ranking is based on the Worldwide Cost of Living Survey from The Economist Intelligence Unit. The survey compares the price of over 150 items in 133 cities around the world, including the cost of housing, major consumer goods and the price of operating a car in the city. The index uses New York as the benchmark, comparing the cost of loving in other cities to that of New York.
Last year Reykjavík came in as the 16th most expensive city in the world. The climb of two spots on the list can be explained by the appreciation of the Icelandic currency the Króna, which has appreciated significantly in the past two and a half years. As the Króna has increased in value the prices of goods and services in Iceland, calculated in US Dollar, have risen.
