NEW YORK, USA, Thursday January 5, 2017 – A new infographic has revealed the world’s most expensive cities, and despite the lavish lifestyles in the Middle East and Asia, Bermuda’s capital, Hamilton, is the costliest city on Earth to call home, closely followed by San Francisco and New York.
Travel agent The Crazy Tourist used recent statistics from crowdsourced data site Numbeo to reveal the costly cities and the dramatic difference in the cost of everyday items in these pricey locations.
The survey found that the median monthly cost of living in Hamilton, which has a population of just over 3,000, is a staggering US$4,769.
Not far behind, with the cost of living of $4,612 monthly, San Francisco is the second most expensive city in the world, closely followed by fellow US city New York, which costs residents $4,207 each month for a bite out of life in the Big Apple.
The survey revealed that rather than residents of these expensive places enjoying the benefits of the highlife and attractions that their home city has to offer, many dig deepest into their pockets for rent.
While residents of Hamilton routinely fork out 61.6 percent of their cash on rent, the average San Franciscan spends a whopping 72.7 percent of their cash each month on lodgings, and New Yorkers are similarly cash-strapped, paying 69 percent of their living costs on rent.
Another interesting finding from the survey was the significant difference in the cost of the same item in different cities.
In Hamilton, visitors and locals need very deep pockets for a beer, with a price tag of $9, while it generally hovers around $6 in mega-expensive San Francisco, New York and Geneva. It is even cheaper in London and Hong Kong. Residents of Hamilton also pay top dollar for utilities, forking out 5.9 percent of their monthly spend on these essential services.