Hamilton has the highest cost of living in the world, making it the most expensive place to live, according to data recently released by Numbeo, the world’s largest database of user contributed data about cities and countries worldwide.
Bermuda’s capital Hamilton was reported to have a Cost of Living Index rating of 140.6, well above the next highest figure, that being 127.3 for Basel, Switzerland, with Zurich, Switzerland next high at 119.2.
The indices presented by Numbeo are relative to New York City, which stands at 100%, meaning that the Cost of Living in Hamilton — excluding rent — is 40.6% more expensive than that of the Big Apple on average.
Hamilton, with a Rent Index of 95.4 — second only to New York — also ranks highest when rental cost is included in the Cost of Living, standing at 119 or 19% more than that of New York, with Santa Barbara, California next at 102, followed by New York.
The area also represents the most expensive place to eat out and but groceries, with the Groceries Index 145.7, while the Restaurant Price Index sits at 128.1 compared to second place Zug, Switzerland’s 126.
Conversely, local purchasing power in buying goods and services fails to match the high cost of residing in the city, as Bermuda ranks 219th among the 540 cities listed at 83.9, which is 16.1% less than that of those living in New York, a disturbing trend.
Numbeo provides current and timely information on world living conditions including cost of living, housing indicators, health care, traffic, crime and pollution. It is a collection of Web pages containing numerical and other itemizable data about cities and countries.
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