Lima surpasses many South American cities in cost of living. Photo: LR Mix/Viator
LimaThe capital of Peru is the second most expensive city in South America and one of the most expensive cities in Latin America. Global Cost of Living Survey published by The Economist Intelligence Unit (EIU).. This significant rise in global ranking is due to significant increase in food, housing, public services, entertainment options and other factors.
This increase in the cost of living reflects a significant economic adjustment in the city, affecting both residents and tourists who come to enjoy the culture, history and cuisine that Lima has to offer.
What position does Lima hold in Latin America?
In Latin America, Lima, also known as the City of Kings, ranks fifth and is surpassed only by Montevideo (Uruguay) in South America. This is the ranking done by the famous pollster:
- Mexico City (Mexico)
- Querétaro (Mexico)
- Montevideo (Uruguay)
- (San Jose Costa Rica)
- Lima Peru)
According to the study, Mexico City and Queretaro are the highest in the rankings and have overtaken similar cities. Milan, Munich Y Washington DC Thanks to rising interest rates and strong domestic investment, the Mexican peso looks set to be one of the strongest emerging market currencies in 2023.
Lima, the Peruvian capital, fascinates with its colonial history, vibrant modernity and rich gastronomic offer. Photo: Tour to Machu Picchu
Which are the cheapest cities in the world?
According to The Economist Intelligence Unit, the cheapest cities in terms of cost of living are Damascus (Syria), Tehran (Iran) and Tripoli (Libya). All three cities are particularly economical for grocery shopping, clothing, and other household and personal care items.
Last places in the rankings. Photo: EIU
As for South America, Buenos Aires (Argentina) ranks 163rd on the list, making it the least expensive city in this part of the world. According to many sources, $5 in this city can buy you 32 subway rides, 21 empanadas, 7 drinks, and more.
Which are the most expensive cities in the world?
According to the aforementioned study, the cost of living has risen significantly in the most expensive cities worldwide, covering various aspects such as accommodation, food, transport and entertainment. These are:
- Singapore
- Zurich
- Ginebra
- New York
- Hong Kong
Singapore is one of the most modern cities in the world. Photo: Expresso Information
What is the average cost of living in Singapore, the most expensive city in the world?
Taking into account food, transportation and other expenses, for a single person, monthly living expenses in Singapore can be between S/ 4,221 and S/ 5,000, and for a family of four, these expenses can be between S / 15,213 and S/ 20,000 per month excluding rent.
Which South American country will be a world superpower in 2050?
According to Goldman SachsBrazil will be a world power in both 2050 and 2075, occupying 8th place. The good news is that it will rise from $4.9 to $8.7 trillion and is expected to continue to rise.
Brazil will be a world power for years to come. Photo: AFP
