Moscow improves its position in the international Cost of Living city ranking
According to the August update of Expatistan’s Cost of Living ranking, Moscow is ranked 151st globally and 63rd in Europe, having improved its position by two lines globally and by three lines in the European ranking since the beginning of the year.
The Cost of Living ranking ranges cities according to their cost of living level - the higher position a city occupies, the more expensive it is to live in the city. In total, the world ranking reviews 204 cities, while the European ranking encompasses 68 cities. Expatistan’s ranking is based on a survey of city residents who indicate the cost of the most common goods and services - food, accommodation and home improvement, clothing, transportation, health care and entertainment.
The top three cities in the world ranking were taken by the cities with the highest cost of living: Grand Cayman (Cayman Islands), Geneva and Zurich (Switzerland). London entered the top three of the European ranking of the most expensive cities to live in, in addition to Geneva and Zurich. Cities with the lowest cost of living in the world are Indian Pune and Hyderabad, as well as the Peruvian Arequipa, while in Europe it is cheapest to live in Bucharest, Kyiv and St. Petersburg.
In the view of the survey respondents, the cost of living in the Russian capital is at the same level as in Monterrey (Mexico). In Europe, Moscow’s positions are near Budapest, Warsaw, and Belgrade.
"Moscow is a modern metropolis with attractive investment climate, developed competitive environment and world-class infrastructure, comfortable for work and living. This is confirmed by both official statistics and regular research and rankings, including international ones. Moscow is not only in one line with the largest world megacities such as London, New York, Hong Kong, Paris, and Berlin, but often is far ahead of them, " said Kirill Purtov, Moscow Government Minister and Head of the Department of Economic Policy and Development.
In this way, in a recently published Internations ranking evaluating cities’ attractiveness for moving and living of foreigners, the Russian capital rose from 54th to 17th place, bypassing Berlin, New York and Zurich, while in the Boston Consulting Group ranking Moscow took third place among the 16 most attractive cities for residents, seconding only to New York and London.
“A distinctive feature of the three rankings is that they are all formed based on surveys and people’s feedback and represent an independent and objective assessment of the results of activities aimed at the city development and improving the quality of life. Today Moscow implements such important programs as “Metropolitan Health Care”, “Metropolitan Education”, “Social Support for Residents of the City of Moscow”, “Sport in Moscow”, “Development of Cultural and Tourist Environment and Preservation of Cultural Heritage”, “Development of the Urban Environment”, “Development of the Digital Environment and Innovations”, “Safe City” and others. The total amount of the city programs funding for in 2021 is 3.2 trillion rubles or 93.77 percent of the total expenditures of the capital’s budget for 2021,” the Minister added.
