Ukraine’s capital has risen by 22 places in The Economist’s ranking of the world’s most expensive cities.
According to the findings of the latest Worldwide Cost of Living survey, in 2019 Kyiv surged to 86th place, the second biggest increase in ranking after the Turkish capital of Istanbul. Previously, Kyiv held 64th place.
The Economist ties Kyiv’s rapid rise to the country’s record grain harvest in 2019, which boosted export earnings, leading to a stronger Ukrainian hryvnia against the U.S. dollar.
According to the survey, rising demand following a string of increases to the minimum wage in recent years and stronger real wage growth are boosting prices in Kyiv.
Kyiv shares 86th place with Moscow – another one of the world’s most expensive cities.
At the top of the ranking are the cities of Singapore, Hong Kong, Osaka, New York, Paris, Zurich, Tel Aviv, Los Angeles, Tokyo and Geneva.
The cheapest cities for living are Damascus, Tashkent, Almaty, Buenos Aires, Karachi, Caracas, Lusaka, Chennai, Bangalore and New Delhi.
The Worldwide Cost of Living ranking compares more than 400 individual prices across 160 products and services in 130 cities with the base city of New York.
The survey has been carried out bi-annually for more than 30 years.
