Vacationers stroll round Gyeongbok Palace in Seoul, Sept. 17, 2023. Korea Instances picture by Choi Gained-suk
By Yoon Ja-young
Seoul is essentially the most cost-effective metropolis to dwell in globally, in response to Examine the Market Australia, a value comparability service.
The corporate analyzed 11 totally different cost-of-living elements, together with common gas and electrical energy costs, common annual wage and unemployment price. Public transport, house costs, hire, milk, bread and cappuccino costs have been additionally in contrast throughout 42 economically developed cities.
Seoul ranked first as essentially the most cost-effective metropolis to dwell in, with the bottom unemployment price out of all 42 cities studied, at 2.5 p.c. The research famous {that a} mixture of low housing and hire value will increase since 2015 and low cost common electrical energy charges allowed Korea’s capital to be on the high.
Nonetheless, Seoul reported comparatively greater costs for milk and bread.
It additionally had low common annual wages in comparison with different cities.
Following Seoul have been Australia’s Brisbane and Luxembourg Metropolis, the capital of Luxembourg. Extremely-low public transport fares and relatively cheaper common gas costs helped Brisbane rank as some of the cost-of-living-friendly cities, whereas Luxembourg benefited from excessive common wages and free public transport entry.
In the meantime, Reykjavík of Iceland, Copenhagen of Denmark and Dublin of Eire have been cited because the least cost-of-living-friendly cities.
“Whereas Seoul, Brisbane and Luxembourg ranked on the high of the index, no metropolis acquired a rating greater than 6.7 out of 10 — demonstrating that no place is totally good for these in search of cost-of-living aid,” Stephen Zeller, Examine the Market’s basic supervisor of cash, stated.
