Economic Research | Lebanon This Week | Lebanon This Week 556 | Cost of living in Beirut is seventh highest in the world, highest in the Middle East in 2018 | Lebanon | Byblos Bank

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Lebanon This Week 556

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Cost of living in Beirut is seventh highest in the world, highest in the Middle East in 2018

EuroCost International's 2018 cost-of-living survey for expatriates ranked Beirut in seventh place globally, compared to eighth place in 2017 and to 13th place in 2010. Beirut continued to have the highest cost of living for expatriates in the Middle East since the 2012 survey. The survey attributed the elevated cost of living in Beirut to the high rental rates in the capital. The survey compares the cost of living for expatriates in major locations worldwide. It includes rental costs, but it excludes healthcare and education costs. The rankings are based on prices collected in June 2018 and were updated based on the exchange rates during the month of September. 

The survey shows that the cost of living for expatriates in Beirut is lower than in Geneva, Seoul and Singapore, and higher than in London, Zurich and New York City. Beirut is the only Middle Eastern city among the 15 most expensive cities globally for expatriates. Three new cities, which are Boston (26th place), Washington DC (27th place) and Paris (30th place), joined the top 30 list in this year's survey. Overall, the rankings of 18 cities increased, reflecting a rise in their cost of living, while the rankings of 11 cities declined among the 30 most expensive cities in the world. Hong Kong came in first place and replaced Luanda, the capital of Angola, as the most expensive city in the world for expatriates in 2018. EuroCost International specializes in cost of living services for expatriates in over 272 locations worldwide.  
 
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