Numbeo has released its annual index, revealing the cost of living in the world's most expensive cities. The rankings are based on data collected between January and June, with New York City serving as the benchmark. As a result, New York holds an index of 100, against which all other cities are compared, determining whether they are more or less expensive than the Big Apple.

Among the top 10 cities, seven are located in the United States, but Geneva claims the top spot. The study indicates that the cost of living in Geneva is 1.7% higher than in New York. Known for hosting the headquarters of the United Nations, Geneva's monthly expenses for a family of four amount to approximately ,300. Zurich, another Swiss city, ranks second, where a similar family would spend around ,184 per month. New York, San Francisco, and Boston complete the top 5.

The only other city in the top 10 that is not in the US is Reykjavik, the capital of Iceland. Washington, Seattle, Los Angeles, and Chicago also feature among the most expensive cities globally.

Meanwhile, no Bulgarian city made it into the top 100. According to Darik Business Review, Sofia is ranked 132nd, followed by Varna, which is eight places lower, and Plovdiv at 149th.

Cities earn their positions in the ranking based on various factors, including cost of living, property rents, food prices, restaurant expenses, and the purchasing power of the local currency.