You won’t see many tank tops or sneakers on the street in Paris or Monaco next year.
Where will you find them instead? Nah, look around at the G20.
The annual Cost of Living survey from the Economist Intelligence Unit puts Paris, Monaco and Qatar back on the list of the world’s most expensive cities after they dropped from the top three last year.
“In Paris, increasing air fares have put pressure on households spending on food, clothing and housing,” says David Webb, a British journalist and author of Travel and Leisure.
“This rise was particularly unwelcome to Parisians in the winter of 2017 when the cost of living rose faster than sales tax, spurring riots in the French capital.”
Britons enjoying summers in the UK’s most expensive city, London, and Americans planning vacations in New York City can expect their expenses to rise in 2021 by $1,470. That’s a result of a 12 percent increase in the cost of living there.
Hong Kong and Singapore also had price hikes in recent years, making them the second- and third-most expensive cities in the world.
Among the most popular choices for international travelers are the cities on the highest-ranked lists.
“The anticipation of opening a gateway to a new destination — while containing serious costs — is a major draw,” says Will Smellie, a travel and real estate journalist in Hong Kong.
But residents in most cities — even the most pricey ones — pay for their abundance of tourism.
“Vietnam is one of Asia’s star destinations right now,” says David Parry, a Hong Kong-based trade consultant. “Resort towns of Long Beach and Long Phong are a great place to spend your time, with the high-quality food, shopping and services all at low prices.”