Deutsche Bank Finds Zurich, Geneva Priciest in 69-City Cost Survey as Tokyo Turns Cheapest
Updated
Updated · Business Insider · Jul 19
Deutsche Bank Finds Zurich, Geneva Priciest in 69-City Cost Survey as Tokyo Turns Cheapest
3 articles · Updated · Business Insider · Jul 19
Summary
Deutsche Bank compared more than a dozen everyday items across 69 cities and found Zurich and Geneva were the most expensive overall, while Tokyo emerged as a striking low-cost outlier in 2026.
Swiss cities topped categories from cappuccinos to taxi rides and movie tickets, but they also led in disposable income after tax and rent, leaving a couple renting a three-bedroom home with more than $10,000 monthly.
Tokyo's low ranking was driven by yen depreciation: a three-bedroom apartment costs less than a third of New York's, a McDonald's meal less than a quarter of Tel Aviv's, and an iPhone 17 Pro just $1,121.
Category leaders underscored how taxes, currencies and local policy shape prices: New York had the highest one-bedroom rent at $4,285, Sydney cigarettes cost $44.50 a pack, and Berlin utilities reached $410 a month.
The report says prices have climbed broadly over the past decade, with Deutsche Bank pointing to strong currencies, foreign investment flows, tax policy and energy shifts such as Germany's move away from Russian gas and nuclear power.