The cost of living in global megacities continues to rise, especially in Europe and the US. Find out which cities top the ranking of the most expensive places to live, why Switzerland dominates the list, and what to consider when traveling
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Life in popular cultural centers, cities with developed nightlife, gastronomy, and shopping opportunities is becoming increasingly expensive. This is evidenced by the results of the annual Numbeo cost of living index, which was highlighted by Time Out magazine.
The study traditionally analyzes key everyday expenses — the cost of food, restaurants, housing rentals, and the purchasing power of the population. Based on this data, two rankings are formed: with and without housing rentals, which allows for a separate assessment of the real daily expenses of residents and travelers.
How the cost of living ranking was formed
The Numbeo index is based on a comprehensive assessment of several indicators. These include food prices, average bills in restaurants, the cost of housing, and the purchasing power of local residents.
A separate ranking that excludes rent is especially useful for those planning a short stay or trip, as it allows them to understand how expensive everyday expenses are in a particular city. This indicator formed the basis of the list of the most expensive cities in the world.
Zurich is the most expensive city in the world excluding rent
Zurich took first place in the ranking. According to Numbeo, the overall cost of living index in this Swiss city is 118.5. The food price index is 115.4, the restaurant price index is 121, and the purchasing power of the population reaches 164.4.
As Time Out notes, when rent is taken into account, Zurich ranks second, behind only New York. This once again confirms the city’s status as one of the most expensive places in the world to live.
Switzerland dominates the global ranking
Analysts note that Switzerland completely dominates the top of the list. Six cities in this country are among the top six most expensive places to live, excluding rent.
In addition to Zurich, the list includes Geneva, Basel, Lausanne, Lugano, and Bern.
Switzerland has long had a reputation as one of the most expensive countries in Europe, and these data only confirm the high prices of everyday goods and services, even taking into account the significant purchasing power of local residents.
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Which cities made it into the global top 10
Outside Switzerland, the ten most expensive cities in the world also include large US metropolises and the capital of Iceland. In particular, New York ranked seventh in the ranking excluding rent, and Reykjavik ranked eighth.
Two other American cities round out the top ten: Honolulu and San Francisco, which traditionally have high prices for food, services, and eating out.
Top 10 most expensive cities in the world to live in
According to Numbeo, the ranking looks like this:
● Zurich, Switzerland
● Geneva, Switzerland
● Basel, Switzerland
● Lausanne, Switzerland
● Lugano, Switzerland
● Bern, Switzerland
● New York, USA
● Reykjavik, Iceland
● Honolulu, USA
● San Francisco, USA
Tip: A high cost of living index means not only expensive restaurants or shopping, but also increased expenses in case of unforeseen situations, especially those related to health. Therefore, when planning trips to countries with high prices, Ukrainians should take care of their financial security in advance. In particular, medical insurance for traveling abroad will help avoid significant expenses in case of illness or accident. Ukrainians can take out an insurance policy online on the Visit Ukraine platform — quickly and without unnecessary formalities, taking into account the requirements of European countries.
We remind you! As of 2026, Ukrainian citizens can visit 149 countries without a visa or with a visa upon arrival. Read about the current rules for visa-free travel, the list of required documents, requirements for traveling with children, as well as customs restrictions when crossing the Ukrainian border.
Photo: Marina Datsenko / Shutterstock
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Frequantly
asked questions
Why does Numbeo have a separate list that does not include rent?
This approach allows you to estimate real everyday expenses — for food, restaurants, and basic needs, which is especially important for tourists.
Why is Switzerland at the top of the ranking?
Switzerland traditionally has high prices for goods and services, combined with high incomes and purchasing power among the population.
Which city is the most expensive in the world when rent is taken into account?
According to Numbeo, New York usually ranks first when rent is taken into account.