Support The Moscow Times!

Moscow and St. Petersburg Rank Outside the World’s 50 Most Expensive Cities

Pixabay

Moscow and St. Petersburg have ranked outside the 50 most expensive cities of the world this year, according to Switzerland’s UBS Bank.

Out of 77 cities with high costs of living, St. Petersburg placed 51st and Moscow followed in 54th place, UBS said in its latest “Prices and Earnings 2018” survey. When including rent prices, Moscow jumps to the world’s 47th costliest city, leaving St. Petersburg at 53rd.

Despite relatively high prices, Muscovites and residents of St. Petersburg can afford less than in most other big cities, with purchasing power in 59th and 68th place respectively.

Life for a typical three-person European family would be the most expensive in Zurich, Geneva and Oslo. Kiev, Lagos and Cairo offer the cheapest standard basket of goods and services for the same family, according to the survey.

St. Petersburg made its debut on the 2018 list along with Riyadh, Hanoi, Lagos, Panama City and Zagreb, UBS said.

The bank analyzed its trove of data in the 77 cities between January and April 2018, taking the standard European family benchmark but accounting for local habits.

Sign up for our free weekly newsletter

Our weekly newsletter contains a hand-picked selection of news, features, analysis and more from The Moscow Times. You will receive it in your mailbox every Friday. Never miss the latest news from Russia. Preview
Subscribers agree to the Privacy Policy

A Message from The Moscow Times:

Dear readers,

We are facing unprecedented challenges. Russia's Prosecutor General's Office has designated The Moscow Times as an "undesirable" organization, criminalizing our work and putting our staff at risk of prosecution. This follows our earlier unjust labeling as a "foreign agent."

These actions are direct attempts to silence independent journalism in Russia. The authorities claim our work "discredits the decisions of the Russian leadership." We see things differently: we strive to provide accurate, unbiased reporting on Russia.

We, the journalists of The Moscow Times, refuse to be silenced. But to continue our work, we need your help.

Your support, no matter how small, makes a world of difference. If you can, please support us monthly starting from just $2. It's quick to set up, and every contribution makes a significant impact.

By supporting The Moscow Times, you're defending open, independent journalism in the face of repression. Thank you for standing with us.

Once
Monthly
Annual
Continue
paiment methods
Not ready to support today?
Remind me later.

Read more