Deutsche Bank: Low quality of life for Athenians

20 May 2019
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The city of Athens rankled relative;y low in terms of quality of life, even though it has climes some spots in relation to previous years, according to the annual survey released by Deutsche Bank’s which focuses on citizens’ earnings, cost of living and purchasing power in major cities around the world.

The data also confirmed that the cost of gas in the Greek capital is among the highest in the world, while Athenians pay a premium cost for smartphones in comparison to other cities.

As far as the quality of life indicator, which factors in the cost of living and purchasing power, security, health care, and environmental quality, Athens is ranked 34th among 56 cities around the world, gaining four spots compared to last year. Zurich remained first, while the top five is rounded off with Wellington (New Zealand), Copenhagen, Edinburgh, and Vienna.

In terms of wages/incomes, San Francisco knocked Zurich from top place this year. The net monthly earnings of an average worker in Athens are US $ 853, which puts the city in 42nd place among 56 cities. These earnings are 16% lower than the average over the last five years. In San Francisco, the average worker receives $ 6,526 a month, in Zurich about $ 5,900, in New York just over $ 4,610, and $ 4,288 in Boston.

Zurich may have lost its first spot in salary, but it is still the most expensive city in the world in several goods and services, usually followed by Scandinavian cities and major financial centres such as London, New York, and Hong Kong.

The Greek capital holds the not so enviable position of being the 6th most expensive city in gas prices having climbed two spots compared to 2014 and four compared to last year. This year, the Athenians pay an average of $ 1.78 per litre of gasoline, while last year they paid $ 1.83 and five years ago $ 2.33. The price has fallen further in other cities, and the euro has depreciated against the dollar, which explains the rise of the Greek capital in the world ranking. The top five are Hong Kong, Oslo, Amsterdam, Milan, and Helsinki, while Paris is one place below Athens.

On rental rates, on the other hand, the cost of a two-room apartment in Athens has dropped 7% from the average of the last five years to $ 597, with the city ranked 47th. The cost is a long way from rents in Hong Kong, where the average price for a two-room apartment is $ 3,685 a month or San Francisco, where the tenant is asked to pay $ 3,631 a month. New York is In third place with an average rent of $ 2,910.

The cost of Internet access in Athens is also relatively inexpensive Dubai hold the top spot for Internet rates, while the second place is shared by San Francisco, New York, and Dublin.

As for other daily costs, such as coffee and soft drinks, Athens is ranked 22nd in the world (for a cappuccino) and 15th respectively (for a 2-litre bottle of Coca Cola), while it is 27th at the cost of beer.

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