Paris Edges Out London and New York for Fifth Most Expensive City

Photo via Eurochat.

The latest Worldwide Cost Of Living survey from the Economist Intelligence Unit has ranked the most expensive cities to live in for 2016, with Paris coming in solidly in 5th place.

Singapore stuck to the top spot, followed closely at heel by a second-place tie between Zurich and Hong Kong and fourth-place Geneva. Paris was the only top-ten city that dropped in the rankings, with London rising five places and New York and Los Angeles rising 15 and 19 places, respectively (U-S-A! U-S-A!)

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Shifts in currency value had a lot to do with the shuffles on the list, as the strengthening U.S. dollar has nearly pulled even with the Euro.

The study notes that while Paris is “structurally extremely expensive to live in,” it offers relative value over other European cities when it comes to alcohol and cigarettes, although the average pack was cheaper in Seoul ($3.71), Copenhagen ($6.41), Hong Kong ($7.48), and, inexplicably, Los Angeles ($7.74), where you are de facto smoking a cigarette every time you breathe the city’s air. Of the top ten cities, Paris wasn’t even the cheaper place to buy wine, with the average $8.06 bottle in Geneva acing out Paris’s $10.71 average price. No mention was made of the price of charcuterie or cheese.