Lima is the sixth most expensive city in Latin America, according to the annual list of the global mobility company ECA International, which takes into account several factors such as rental services, basic food and transportation, as axes to measure where of the world is more expensive to live.
According to this report, collected by the CNNBuenos Aires, the capital of Argentina, is considered the most expensive place to live in 2022. With more than 2 million 890 thousand inhabitants (according to the most recent data available from the National Institute of Statistics and Censuses of the Argentine Republic), This city is located on the banks of the River Plate.
Buenos Aires It went from occupying position 92 in 2021 to having position 37, in the ranking of the most expensive cities worldwide, a change of 55 positions. Most Latin American cities increased their positions for this year, with the exception of Santiago de Chile, which went from position 98 in 2021 to 119 worldwide.
The most expensive city in the world for this year is Hong Kong. In second position is New York; Geneva, London and Tokyo follow.
Asia is the most expensive continent, with five cities (Hong Kong, Tokyo, Shanghai, Guangzhou and Seoul) making the top 10.
Prices in Buenos Aires
As detailed on the website expatistana platform that collects data on the cost of living from cities around the world, renting an 85 m2 furnished apartment in the capital of Argentina costs around US$594.
A liter of milk costs an average of US$1.11, just 12 cents less than what you would pay in New York, the second most expensive city in the world.
As detailed by this portal, Buenos Aires is even 37% more expensive than Bogotá, a city lower in the ranking and outside the top 10 most expensive cities in Latin America. Food and entertainment is more expensive in the Argentine capital.
The most expensive cities in Latin America
Buenos Aires occupies the first place of the most expensive city. In second place is Montevideo (Uruguay). It is followed by Panama City (Panama) and Santo Domingo (Dominican Republic) in third place, Rio de Janeiro (Brazil), Santiago de Chile (Chile) and Lima (Peru) in the list of the most expensive Latin American cities to live in.
“Following challenges in previous years due to greed and political unrest that caused the Brazilian real to plunge, Brazil’s currency underwent a turnaround as interest rates rose to combat inflation combined with rising interest rates. commodity prices and the covid outlook. The upgrade has strengthened the real, making the country more expensive for expats and visitors than it was last year.explained Steven Kilfedder, director of realization of ECA International.
Bogotá ranks 12th among the most expensive Latin American cities in the ranking. According to ECA International, political uncertainty in Colombia contributed to its drop four places in the global ranking.
“On the surface, Colombia should have seen its currency strengthen, as a key oil exporter as prices rise, however, political uncertainty ahead of the election had the opposite effect on the Colombian peso, meaning it is cheaper. for many expats or tourists than last year”indicates the analysis of ECA International.
Latin America Ranking:
1, Buenos Aires
2, Montevideo
3, Panama City and Santo Domingo
4, Rio de Janeiro
5, Santiago de Chile
6, Lima
7, Guatemala City
8, Quito
9, Sao Paulo
10, San Jose
11, Mexico City
12, Bogota
13, Guayaquil
14, Córdoba
15, Tegucigalpa
