São Paulo is the 12th most expensive city for the rich in the world, says index

Swiss bank withdrawal Julius Pub on wealth and lifestyle around the world shows that the city of São Paulo is the 12th most expensive city for the rich. Also according to the ranking, the city recorded the biggest jump in prices in the basket of products that map the cost of living of people with greater purchasing power.

With that, the capital of São Paulo jumped 9 positions and was in 12th place among the most expensive cities for the richest, being the 2nd place in the Americas — behind only New York, which occupied the 11th position.

According to the index, the fact that São Paulo recorded the second largest increase for the dollar among the evaluated cities, second only to Shanghai, in China, boosted the advance to the current position. The high inflation registered for the period evaluated also contributed to the result.

The consumption costs of the capital of São Paulo are higher than those registered in Miami, in the United States, in Vancouver, in Canada, and in Mexico City, in Mexico, which were in 18th, 20th and 22nd places, respectively.

“The Eastern Hemisphere has two economies with high development potential in Brazil and Mexico, both with cities in the index. If current market conditions continue, it is not inconceivable that the costs incurred in the United States and Canada will be exceeded by their neighbors. next year”, says the Julius Pub.

On the global stage, the most expensive city in the world for the super-rich is Shanghai, followed by London, UK, and Taipei, the capital of Taiwan. The Asian continent is the one with the most cities listed in the ranking as the most expensive for this social cut.

Lifestyle

For residents of São Paulo, jewelry, items from the technology market, expensive watches and bicycles were the most expensive among the products evaluated by the index.

Cars, treadmills and branded bags have also increased in price and impacted the bottom line.

In the analysis of the Swiss bank, “the increase in the cost of living has made the rich rethink their spending habits and priorities” after the second year of the pandemic and the global economic developments resulting from the period.

“In a scenario of uncertainty, people increasingly value experiences and personal connections with goods, and the pandemic has intensified the focus on health, well-being and financial security”, says an excerpt from the analysis of the Julius Bair.

About Abhishek Pratap

Food maven. Unapologetic travel fanatic. MCU's fan. Infuriatingly humble creator. Award-winning pop culture ninja.

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