Beirut 181 globally and fourth Arab in terms of cost of living

The semi-annual survey of 2016 prepared by “Numbeo” World Database on the cost of living has shown that Beirut came 181 among 372 global cities and 4th among 18 Arab targeted cities. The results of the study, published in Bank Byblos weekly newsletter, have classified Beirut as the second most expensive among some 76 middle to high income cities. Numbeo institution has conducted an assessment study of the cost of living in every city based on the consumer price index (a relative index of prices of consumer goods, including grocery stores, restaurants, transport and public utilities) in addition to the price of rent index. Both indices are based on those of  New York City for comparison purpose. According to above study, the Lebanese capital added around 62.65 points on consumer price index, which indicates that consumer goods in Beirut are 37.35% less than those in NYC. On the rent price index, Beirut ranked 66th globally, 3rd among middle to high income cities and 4th among Arab states, gaining a total of 40.56 points. This is indicative that the cost of rent of an apartment in Beirut is less by 59.44% than that in NYC. (An Nahar, July 26, 2016)