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The ‘cost of living’ has been the buzz-phrase of the last couple of years, and with rising prices on everything from fuel to food, energy bills to transport, it’s something many of us are having to bear in mind on the daily.
Handily, price comparison site Compare the Market publishes a Cost-of-Living Cities Index each year, and the list of the ten most cost-of-living friendly cities in the world for 2024 has been unveiled.
42 major cities were assessed across 11 factors, which include categories such as unemployment rates, average wages, typical public transport fares and the price of a coffee, and it’s (drum roll, please) Seoul which claims the top spot as the most cost-of-living friendly city in the world.
It has the lowest unemployment rate on the roundup at just 2.5 percent, as well as decent fuel prices and some of the lowest rent prices and house prices indexes.
Next up it’s Brisbane, thanks to its ridiculously affordable transport (a single journey is just 50 cents) as well as good rent and fuel prices. However, Melbourne also makes the top 10, claiming seventh place, and both cities also have a low unemployment rate of just 4.2 percent. Read on for the top 10 list.
These are the ten most cost-of-living friendly cities in the world
- Seoul, South Korea
- Brisbane, Australia
- Luxembourg City, Luxembourg
- Madrid, Spain
- Ljubljana, Slovenia
- Bratislava, Solavk Republic
- Melbourne, Australia
- Rome, Italy
- Mexico City, Mexico
- Prague, Czechia and Ankara, Türkiye
Did you see that these are officially the best cities in the world, according to Resonance Consultancy?
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