Moving to Portugal news - Lisbon is one of the cheapest cities in Western Europe according to the newly released ranking by the Economist in the “Worldwide Cost of Living 2023” report.
How does the cost of living in Portugal compare to other European cities?
The Worldwide Cost of Living 2023 Index by the Economist Intelligence Unit (EIU) ranks Portugal’s capital as cheaper than Athens. While New York is used as benchmark in the Cost of Living index with 100 points, Athens is rated with 60 points, while Lisbon is cheaper since it is rated below 60 points. Madrid and Barcelona are rated around 75 points and are therefore cheaper than London that is rated 83 points and Paris with 91 points.
What are the most expensive cities in Europe?
These are the European cities that are more expensive than Lisbon, starting with the cheapest: Stockholm, Rotterdam, Luxembourg, León, Rome, Brussels, Manchester, Berlin, Dusseldorf, Barcelona, Stuttgart, Amsterdam, Madrid, Edinburgh, Hamburg, Oslo, Munich, Dublin, Frankfurt, London, Vienna, Copenhagen, Paris, Geneva, and Zurich.
According to The Economist, the most expensive city in Western Europe is Zurich, which is rated above 100 points and is thus more expensive than New York.
What are the Top 10 most expensive cities in the world?
In 2023, average prices in major cities worldwide rose by 7.4% compared to 2022. This is the ranking of the Top 10 most expensive cities in the world:
What is The Worldwide Cost of Living Index?
The Worldwide Cost of Living Index is produced by the Economist Intelligence Unit (EIU), the business arm of The Economist Group, the leading source of analysis on international business and world affairs.
The Worldwide Cost of Living report is a twice-yearly survey conducted by the EIU and compares more than 400 individual prices across 200 products and services in 173 cities.
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