Here are the most expensive cities in Europe for ex-pats

2022 promises to be a dramatic year in terms of cost of living, as the war in Ukraine and the fuel shortage drive prices up across the board

Last week, ECA International, a New York-based business consultant company published their annual report on the most expensive cities for ex-pats in the world. This year’s ranking is particularly significant, as the world is going through a massive cost of living crisis, brought on by various factors.

One of the big ones, without a doubt, is the Russian invasion of Ukraine and the subsequent spike in energy prices. The war, coupled with a wave of refugees, depleting scarce housing resources and a burgeoning food crisis all contribute to a dramatic and significant cost of living increase in Europe.

Supply disruptions due to the war, however, have been made worse by a general supply shortage of fuel. At the same time, the rise in the cost of petrol is one of the most significant factors causing living costs to go up globally. This was most dramatic in Beirut, Lebanon, where fuel prices increased by 1128% since last year and Istanbul, where prices went up by 156%. Nevertheless, Hong Kong remains the most expensive city in the world for ex-pats for yet another year.

Europe’s most expensive cities  

The top three most expensive cities in Europe have retained their positions since last year, with Geneva, Zurich and London consistently ranking among the world’s most expensive cities. At the same time, Reykjavik has become significantly more expensive in relation to its European counterparts, as the Icelandic capital went from 17^th place in 2021 to 8th in 2022.

Most of the other cities on this list have retained a consistent or marginally different position in comparison to last year.

Here is a list of the most expensive cities for ex-pats in Europe:

1. Geneva, Switzerland;
2. London, United Kingdom;
3. Zurich, Switzerland;
4. Bern, Switzerland;
5. Copenhagen, Denmark;
6. Oslo, Norway;
7. Stavanger, Norway;
8. Reykjavik, Iceland;
9. Stockholm, Sweden;
10. Luxembourg City, Luxembourg.