Boston is costly, but in 2024, it ranked 19th among the world’s most expensive cities. It didn’t make the top 10, although it remains a pricey place to live.
The consulting firm Mercer published a new list of expensive cities, influenced by various factors like inflation, housing costs, and currency changes.
Hong Kong and Singapore topped the list, followed by Swiss cities Zurich, Geneva, Basel, and Bern. New York City, at number seven, is the most expensive city in North America, followed by Nassau and Los Angeles, which ranked ninth and tenth. London came in at eighth.
More American cities are on the list: Honolulu is 12th, San Francisco is 13th, and Miami is 17th. Chicago is just behind Boston at 20th.
Mercer pointed out that choosing a location isn’t just about money. Safety and security are becoming just as important, especially as political tensions and natural disasters make some areas less appealing.
The challenge, according to Mercer, lies in balancing cost and quality of life. Cities that have achieved this blend include Santiago, Chile; Montreal; Panama City; Warsaw; and Budapest.
On the other end of the spectrum, two of the least expensive cities are in Nigeria: Abuja and Lagos. Islamabad, Pakistan, is third, followed by Bishkek, Kyrgyzstan, and others like Karachi, Malawi, and Cuba.
Mercer’s rankings were based on the costs of over 200 items, such as housing, food, and transportation, using New York City as a benchmark. This data comes from a survey of over 400 cities conducted in March 2024.
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