Copenhagen moves up Worldwide Cost of Living index

Danish capital moves two spots up rankings that have been seriously impacted by the Coronavirus Crisis

According to the Economist Intelligence Unit, Copenhagen is among the cities in the world with the highest cost of living.

The 2020 Worldwide Cost of Living index, which ranks about 130 major cities based on the prices of 138 goods and services, reveals that the Danish capital has moved up two spots to ninth place overall.

Zurich, Paris and Hong Kong ranked joint first, followed by Singapore, Tel Aviv, Osaka, Geneva, New York, Copenhagen and Los Angeles.

READ ALSO: Copenhagen one of the best cities in the world for work-life balance

COVID-19 impact
One of the key aspects of the report was deducing how much of an impact the ongoing Coronavirus Crisis has had on prices around the world.

Government actions in response to the crisis, supply chain problems, a decline in disposable income and changes in lifestyles have all been attributed to having an effect.

Other interesting points included cities in the Americas, Africa and eastern Europe becoming less expensive compared to 2019, while western Europe trended i the opposite direction.

READ ALSO: Copenhagen named among world’s most innovative cities

Iranian index increase
Reykjavik, Sao Paulo, Rio de Janeiro, Bangkok, and Moscow were among the cities to drop significantly in the rankings.

Tehran, Perth, Guangzhou, Belgrade and Abidjan, meanwhile, were the biggest movers up the rankings.

Read the report here (in English).