Due to a devaluation of over 70% in the last twelve months, the city of Buenos Aires has risen from 40th place to 76th in the ranking of the world's most expensive cities for foreign tourists. This is indicated by the study, published annually by international consulting firm Mercer in at least 130 countries.
"The change in the position of Buenos Aires is due in particular to the double effect of the devaluation of the dollar against the euro devaluation of the peso against the dollar, since it is a ranking that sets the relativity," said Valeria Bohorquez, director from Mercer in Argentina.
The expert said that the decline of some cities is the rise of European and some Asians pointed out that it will be necessary in a few months to see how local inflation is also having an effect, because prices are being replaced in pesos and then converted into dollars.
In the countries of South America the capitals of Brazil, Argentina and Peru showed significant declines within the International Cost of Living rankings.
San Pablo (58) remains despite the fact that she is the most expensive city in the region 32 places compared to last year.
Santiago de Chile (69) continued as the second-priced site with only two positions, with Montevideo finishing in 75th place, ten points in the 201
Buenos Aires ranks 76th on the table and so on 36th (40th place).
Most other South American cities, despite this list, ranked higher in goods and services prices experienced by countries such as Brazil, Argentina and Uruguay. In particular, Rio de Janeiro (99) collapsed by 43 positions.
Lima (132) dropped 28 places, Bogotá (168) fell 15. Tegucigalpa (201) is the cheapest city in America.
Caracas The capital of Venezuela was excluded from the ranking because of its complex stock market situation, as its position in the ranking would fluctuate significantly depending on the official exchange rate.
US cities fell as a result of a steady improvement in the European economy's ranking, causing a drop in the US dollar against other major currencies around the world. New York dropped four places to 13th and is the most expensive city in the US. San Francisco (28) and Los Angeles (35) fell seven or twelve places compared to last year, while Chicago (51) fell by twenty places
Hong Kong moved to Luanda to position himself as the most expensive city in the world for expatriates; Tokyo and Zurich are in second and third place respectively, Singapore is in fourth place, one place compared to last year and Seoul ranked fifth.
These are four of the five most expensive cities in the world for expats who are now Asian.