Mercer, an international survey firm has ranked Beirut as the third most expensive city in the Middle East and the 50th dearest in the world.
Beirut is the capital and largest city of Lebanon with an estimated population between 1 million to 2 million. It is reckoned to be one of the oldest cities in the world and was recognized as one of the New 7 Wonder Cities in 2015.
The Globalization and World Cities Research Network as a Beta World City also rank Beirut. The major religious groups in Beirut are Sunni Muslim, Shia Muslim, Jews, Druze, Armenian Catholic, Armenian Apostolic, Maronite Catholic, Eastern Catholic and Protestant.
Mercer is a world leader in talent, investments, health, and retirement. The firm has been helping its client around the world in advancing in all the sectors. It has more than 20,000 employees working in over 140 cities in 43 countries. It has one of the most comprehensive databases on the worldwide cost of living, housing, and hardship allowances.
Mercer’s Cost of Living survey is conducted every year. More than 200 items are compared to the cities to get a thorough understanding of the expense of every town.
According to Lebanon Weekly Monitor, economic publication of Bank Audi, Beirut is ranked as the third most expensive city to live in the Middle East and North Africa region and the 50th most expensive city in the world in Mercer’s 2016 Cost of Living Survey.
Lebanon Weekly Monitor further noted that the results were based on a survey done by Mercer in March of 2016. As exchange rates from that time and Mercer’s international basket of goods and services have been used as base measurements.
In the MENA region, Dubai and Abu Dhabi ranked as the first and second most expensive city according to the Mercer report of 2016. On the global perspective, Dubai stands at No. 21 while Abu Dhabi stands at No. 25.
Riyadh has shown a significant change in its number. It is the fourth most expensive city in MENA region during 57th most expensive city in the world. In 2015’s Cost of Living Survey, Riyadh was ranked at No. 71.
Jeddah being ranked at No. 121 remains to be the least expensive city in the MENA region. The survey included a total of 209 cities across the globe.
In Mercer’s Cost of Living Survey of 2015, Beirut was ranked as No. 44 while Dubai and Abu Dhabi were ranked at 23rd and 33rd position respectively.