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The Economist ranks Reykjavík as the 29th most expensive city in the world

By Staff

  • Only the 29th most expensive city Since 2006 Reykjavík has fallen more than 25 places on the Economists ranking of the cost of living in 133 major cities worldwide. Photo/Screenshot from the Economist

According to a cost of living index calculated by the English weekly The Economist, the cost of living in Reykjavík continued to fall in 20015. The Economist’s Worldwide Cost of Living Survey, which ranks the cost of living in 133 major cities worldwide, comparing it to the cost of living in New York, shows Reykjavík is the 29th most expensive city. Singapore is ranked as most expensive, followed by Zurich and Hong Kong. Only six cities are ranked more expensive than New York.

Cost of living is ranked higher than in Reykjavík in three other Nordic capitals. Copenhagen is ranked as the 8th most expensive city, Oslo as the 13th most expensive and Helsinki as the 17th most expensive. According to the Economist Stockholm is the cheapest of the Nordic capitals, ranking as the 42nd most expensive city in the world.

Read more: Beer in Reykjavik not that expensive: cheaper than the other Nordic capitals

Ten years ago, in 2006, the cost of living in Reykjavík was one of three most expensive cities in the world, according to the Economist. Reykjavík’s fall to the 29th place in the rankings has made visiting the city cheaper to foreign visitors, increasing its appeal as a tourist destination.

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