Perceived Cost of Living Highest in the World for Dining, Drinking, and Cultural Activities in Seoul
Most Affordable Cities Include Medellin and Bogota
A recent survey in the United Kingdom found that Seoul was ranked as the city with the highest perceived cost of living worldwide. The survey focused solely on the costs of everyday social activities-such as dining out, drinking, and cultural experiences-excluding housing prices and rent. This suggests that Seoul residents feel the greatest burden of living expenses among major global cities.
This survey was recently conducted by the British culture and lifestyle publication Time Out, targeting more than 18,000 local residents across over 100 cities worldwide. Respondents evaluated whether the activities they regularly spend money on in their city were "affordable."
The survey excluded rent and housing costs, and instead focused on common urban consumption items such as: dining out at restaurants, a cup of coffee, drinking at pubs, using bars, nightlife, going to the movies, visiting museums and exhibitions, attending theater or comedy shows, and enjoying live music.
Overwhelming Responses: "Difficult to Afford" for Dining, Alcohol, and Nightlife
As a result, Seoul was recorded as the city with the lowest percentage of respondents who felt their city was "affordable." Only 30% of Seoul residents said that dining out at restaurants was not a financial burden, and just 27% said nightlife was affordable. Only 21% of respondents felt that having a drink was inexpensive.
The item considered relatively less burdensome was coffee, but even then, only 43% of respondents said it was "affordable." The perceived financial strain was widespread across dining, drinking, and leisure activities.
Time Out described Seoul as "a city with a vibrant culture and nightlife," but analyzed that "this vibrancy and breadth of choice directly translates into higher costs." The abundance of restaurants, bars, performance venues, and exhibition spaces open late into the night means the perceived prices of everyday consumption are also high.
Several Northern European cities also ranked high on the list. Oslo, Norway, was identified as the city with the greatest burden for dining out, with less than 24% of residents saying restaurant meals were inexpensive. Stockholm, Sweden, also received low marks due to the high prices of food and entertainment. London, the capital of the United Kingdom, ranked 13th, while Singapore was 12th.
South American Cities Top the List for Affordability
In contrast, South American cities dominated the rankings for the most affordable places to live. Medellin and Bogota in Colombia took the top two spots, with 94% of respondents saying they could enjoy a cup of coffee at a low price. They were followed by Beijing in China, New Orleans in the United States, and Naples in Italy.
Time Out explained that "this ranking does not reflect housing prices, rent, or grocery costs," and added, "the results show how locals perceive the costs of living, dining out, and enjoying culture in their cities."
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