2024-01-07 03:12:44
Lima surpassed several South American cities in terms of cost of living. Photo: LR composition/ Viator
Limathe capital of Peru, has been ranked as the second most expensive city in South America and one of the most expensive in Latin America, according to the global cost of living survey published by The Economist Intelligence Unit (EIU). This significant rise in the global ranking is due to the notable increase in the prices of food, housing, public services, recreation options and other factors.
This increase in the cost of living reflects a significant economic adjustment in the city, which impacts both residents and tourists who come to enjoy the culture, history and gastronomy that Lima has to offer.
What position does Lima occupy in Latin America?
In Latin America, Lima, also known as the City of Kings, occupies fifth place and is surpassed only by Montevideo (Uruguay) in South America. This is the ranking made by the renowned pollster:
- Mexico City (Mexico)
- Querétaro (Mexico)
- Montevideo (Uruguay)
- San Jose Costa Rica)
- Lima Peru)
According to the study, the fact that Mexico City and Querétaro have risen so much in the ranking and have even surpassed cities like Milan, Munich y Washington D. C. shows that the Mexican peso is one of the strongest emerging market currencies in 2023, thanks to interest rate increases and strong domestic investment.
Lima, the Peruvian capital, captivates with its fusion of colonial history, vibrant modernity and a rich gastronomic offer. Photo: Tours to Machupicchu
What are the cheapest cities in the world?
According to The Economist Intelligence Unit, the cheapest cities in terms of cost of living are Damascus (Syria), Tehran (Iran) and Tripoli (Libya). These three metropolises are particularly economical for purchasing groceries, clothing, as well as other household and personal care items.
The last positions in the ranking. Photo: EIU
As for South America, Buenos Aires (Argentina) is ranked 163 on the list, making it the least expensive city in this part of the world. According to several sources, with 5 dollars in this town you can travel 32 times on the subway, buy 21 empanadas and 7 drinks, and many other things.
What are the most expensive cities in the world?
According to the aforementioned study, the most expensive cities worldwide have significantly high costs of living, covering various aspects such as accommodation, food, transportation and entertainment. These are:
- Singapore
- Zurich
- Ginebra
- New York
- Hong Kong
Singapore is one of the most modern cities in the world. Photo: Expreso Info
How much does it cost on average to live in Singapore, the most expensive city in the world?
Taking into account the costs of food, transportation and other expenses, for a single person, the monthly costs of living in Singapore can be between S/ 4,221 and S/ 5,000, while for a family of four people, these costs can be between S/ 15,213 and S/ 20,000 per month without including rent.
Which South American country will be a world power in 2050?
According Goldman SachsBrazil would be a world power in both 2050 and 2075, occupying position 8. The good news is that it would rise from 4.9 to 8.7 trillion dollars, and it is expected to continue rising.
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