Business Traveler (USA)

COLA Winners & Losers

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ECA INTERNATIO­NAL'S most recent Cost of Living Report is out and it reveals Europe now accounts for less than a fifth of the world's most expensive cities – kicked down the by 15 US cities thanks to the shift in the strength of the US dollar.

However, US cities are not in the top 10 most expensive cities in the world. That list includes four Swiss cities – Zurich, Geneva, Basel and Bern – plus Hong Kong, Tokyo, Seoul, Tel Aviv and Shanghai, China. The surprise number one most expensive city in the world: Ashgabat, Turkmenist­an.

Other highlights from the ECA report: Lower oil prices dropped Moscow out of top 100; Caracas, Venezuela dropped from first place to 238th; and US sanctions on Tehran’s trade makes it 2019’s cheapest in the world.

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