Is Greece expensive? According to the world’s most comprehensive cost of living analysis published June 2007, Athens is the 29th most expensive city in the world. The latest comparison can be found at, “Cost of living in Athens, Greece vs. the world 2009.” To check the prices of groceries and services, go to “Greece vs. USA price comparison 2008” for a comprehensive list.
Europe dominated the survey, placing 30 cities in the Top 50 — including Athens, the biggest climber amongst them. Of the U.S. cities, only New York City and Los Angeles made the top ranks at number 15 and 42, respectively.
Mercer Human Resource Consulting in the UK, which produces the Cost of Living survey, performs an annual comparative cost analysis of more than 200 factors that include housing, transportation, food, clothing, entertainment and common household products in 143 cities on six continents.
The survey is used to help multinational companies and governments determine compensation allowances for their expatriate employees, and ultimately drives economic outlook on the future of business and expansion in those respective countries.
Some claim this survey is inaccurate in calculating local costs, but last I checked, local residents and expatriates patronize the same stores, eat the same food and use the same hospitals, garbage service, electricity and water. Cost of living is the same for everyone.
5. Hong Kong
12. St. Petersburg
15. New York City
17. Tel Aviv
See the Cost of Living Survey – Top 50 – Worldwide Ranking 2007 in its entirety.
What about quality of living?
In contrast to Athens moving up 30 places in the cost of living survey to number 29, it fared poorly in the quality of living survey at number 78. This indicates that expenses and inflation are rising quickly, while the quality of life and salaries stagnate and stay the same.
If you are looking for a more up-to-date survey, see the “Athens, Greece: Cost of living survey 2008.” Athens is now the 25th most expensive city in the world, so Greece is getting more expensive.
“Greece vs. USA price comparison” (June 2007)
“Athens — Quality of living vs. cost of living” (Sept 2007)
“Consumers pay double for basics in Greece vs. other EU countries” (Dec 2007)