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Beirut third Arab city for highest cost of living !
26-1-2018
The 2018 Cost of Living Index, published by global database Numbeo, ranked Beirut as the third highest in cost of living among 20 Arab cities and 299th among 540 cities around the world. The figures which appeared in Byblos Group ‘Lebanon this Week’ economic report, have shown that the Lebanese capital is the most expensive among 104 cities in middle to high income countries covered by the survey. To note, Numbeo calculates the cost of living in each city based on the consumer prices indicator which comprises the prices of consumer goods, (including groceries and hypermarkets, restaurants, transportation and utilities), as well as a Rent Index, while noting that all indices are benchmarked against New York City prices. According to the survey, Beirut scored 65 points on the consumer prices index, which means that consumer goods in the Lebanese capital is 35 points less than those in NYC. The Rent Index ranked Beirut in 140th place globally, fourth among Arab countries and second among middle to high income countries, receiving a score of 35 points on the index, which means that renting an apartment in Beirut is 65% less expensive than in NYC. (An Nahar, L’Orient Le Jour, January 21, 26, 2018)
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