Panama City is the most expensive Latin American city in the world, followed by Buenos Aires and Santiago de Chile, according to the benchmark index of the Swiss bank UBS published today, which places Zurich in the first position of the most expensive cities, ahead of Geneva and Oslo.
The report, published since 1971 and in its seventeenth edition, compares the prices and salaries of 77 international cities by evaluating 128 prices of various goods and services, as well as the average income of 15 professions representing the average active population.
In the global ranking, Panama City is ranked twenty-first in the most expensive cities in the world behind the first three, Copenhagen, New York, Tokyo, Milan, London, Chicago, Helsinki, Sydney, Paris, Auckland, Stockholm, Luxembourg, Seoul, Dublin, Brussels, Tel Aviv and Los Angeles.
Panama City is followed a certain distance by Buenos Aires, which is ranked 45, Santiago de Chile (49), Sao Paulo (52), Rio de Janeiro (56), Lima (61), Bogotá (65) and Ciudad from Mexico (69)
The Spanish cities Madrid and Barcelona are placed in positions 34 and 40, respectively by high cost.