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Yerevan, the capital of Armenia, appears to be the most expensive city in the South Caucasus, according to Cost of Living Index by City 2020 released by Numbeo, a global leader in comparing cost of living worldwide.

In total, the ranking list includes 440 cities. According to Numbeo, the most expensive city at the beginning of 2020 is Zurich, followed by Basel and Lausanne.

Switzerland’s Geneva and Bern have been named the world’s fourth and fifth most expensive countries.

Yerevan ranks 380th in the world with an overall cost of living index of 33.04, making it the most expensive city in the South Caucasus, since Baku, Azerbaijan’s capital, and Tbilisi, the capital of Georgia, come 390th and 404th on the list, respectively.

The top ten most expensive cities in the world also features Stavanger, Oslo, Trondheim (Norway), Reykjavik (Iceland) and Bergen, Norway.

Ranking 251st, Moscow is Russia's most expensive city.

While working out the list, Numbeo takes into account the cost of living, rent, groceries and other factors.