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Most expensive cities - TOP-10

13 June 2019 16:38 (UTC +04:00)

ECA International consulting agency Cost of Living Index report published on Thursday, APA reports citing TASS.

This time, Ashgabat, capital of Turkmenistan, was placed first in the list of cities most expensive for foreigners to live in, managing to surpass two Swiss cities, namely Zurich (2) and Geneva (3) that are traditionally ranked very high. They are followed by Hong Kong in the 4rd place, Basel (Switzerland) comes 5th, Bern (Switzerland) placed 6th, Tokyo (Japan) - 7, Seoul (South Korea) - 8, Tel Aviv (Israel) - 9, while Shanghai (China) closes out the top-10.

The Venezuelan capital, Caracas, suffered the most impressive drop, coming from being the leader of the rating last year to falling to the 238th spot because of the inflation that reaches $1.3 million on a year-on-year basis.

Overall, the research compared market baskets of 482 cities all over the world. Tehran occupies the very last place, the reason being the US sanctions imposed on Iran.