There are few cities in the world where people live better than in Madrid. This is one of the main things we can take away from a comparison made by Deutsche Bank economists of fifty cities.
According to their conclusions, Spain’s capital city (the only Spanish city to be analysed) ranks 23rd in the ranking, ahead of large cities such as New York, Paris or London, thanks to factors such as the quality of its health care, the price of housing, its climate and the time it takes to get from home to work.
So, which city tops the ranking? Wellington (New Zealand) is the best city in the world to live in once again in 2018, followed by Zurich (Switzerland), Copenhagen (Denmark), Edinburgh (Scotland) and Vienna (Austria). At the bottom of the table are Beijing (China), Rio de Janeiro (Brazil) and Manila (Philippines).
Salaries and rents
The German bank assures that Zurich continues to be, for yet another year, the city with the highest net salaries, followed by those of some US cities such as San Francisco, Boston and New York, and Sydney (Australia).
"On average, a person working in Zurich earns 4,874 euro a month, while at the other end of the ranking, a worker in Jakarta, Indonesia, earns the equivalent of 368 euro a month. In Madrid, the average salary is 1,670 euro, 10% more than in 2017," the study says.
For the price of renting a two-bedroom flat, the most expensive metropolises in the world are Hong Kong (3,160 euro), San Francisco (3,098 euro), New York (2,413 euro), Paris (2,099 euro) and London (2,038 euro). Halfway down the table is the Spanish capital, with an average cost of long-term rentals being 970 euro per month, while the cheapest cities on the list are Bangalore (India), with 244 euro; New Delhi (India), 292 euro; and Kuala Lumpur (Malaysia), with 405 euro.
Public transport and leisure
The bank also analysed the price of public transport in the 50 cities covered by the index. A monthly pass in Mumbai costs just over 12 euro, while in London it’s around 150 GBP, or 169 euro. In Madrid it is 54 euro.
Leisure was another of the sections that the study looked at. A ticket to the cinema (without popcorn!) costs more than 15 euro in Zurich. In other European cities such as London, Oslo and Copenhagen the price is around 13.50 euro, while in Jakarta, Kuala Lumpur and Mumbai it is only 3 euro. For people living in Madrid, going to the cinema costs an average of 11 euro.
Romantic night out or a flying visit
Dinner and a movie with a couple of beers and a cab home – this standard date night amounts to 171 euro in Zurich, the most expensive city when it comes to asking someone out, followed by Copenhagen, Oslo, Tokyo and Amsterdam. In comparison, in South-East Asia, it’s much cheaper: a romantic date in Mumbai, Bangalore, Manila, New Delhi or Jakarta won’t cost you more than the equivalent of 42 euro. In Madrid, this plan costs about 88 euro.
In terms of taking a weekend trip as opposed to living there, Europe's major cities top the ranking of the most expensive destinations. Two nights’ accommodation in a hotel, lunches, dinners, car hire and some shopping will all cost you 2,116 euro in Copenhagen, followed by Milan (2,100 euro), Oslo (2,060 euro) and Vienna (1,830 euro). Istanbul is the cheapest destination in the index for a weekend plan with 486 euro, followed by Manila (600 euro) and Sao Paulo (613 euro).