BRB, moving to Europe ✈️
If you were looking for a sign to pack your bags and move to another country, this is it.
The Economist Intelligence Unit just came out with its annual report on the Worldwide Cost of Living for 2021, and the results are not what you would expect.
The city that made the biggest move toward becoming more affordable this year was the home of the Colosseum, Rome. The famous Italian city went down 16 ranks on the most expensive cities list, dropping from 32nd place to 48th place.
Rome became more affordable mainly because shopping and clothing became significantly cheaper, according to the report.
Bangkok was the second-most improved city to live in on the list, moving 11 spots down since last year to 57th on the ranking.
Two different German cities also saw improvements in their cost of living, with Dusseldorf and Berlin both sliding down from the top.
It's hard to Imagine Dubai ever making the list of cities that also declined in living costs. Given its reputation for being a luxurious city, it defied all odds this year. Dubai is in 9th place for the city that dropped in living cost this year, and moved down the rank by two places, leaving it at rank 74.
At the other end of things, the Israeli city of Tel Aviv was the most expensive city cost of living-wise in 2021.
Here is the list of nine cities that improved their cost of living and fell down the rankings this past year.
Similarly, the report also showed cities that jumped up in the ranking from last year, and it's the only list where a Canadian city made a cameo. Toronto moved up by eight places, landing it at rank 79; it was the 10th city on the list of places that saw significant increases in living expenses since last year.