Athens may not be among the most expensive cities in the world but it is a middle-ranking one, according to the recent study “Prices and Earnings-2009 edition” published by Swiss banking group UBS. The study compared the purchasing power of citizens in 73 cities around the globe.
The study, which included price and wage comparison and reviewed domestic purchasing power, ranked Athens in 36th place in terms of expensiveness.
In the price comparison category of restaurant and hotel prices, the study showed that the average visitor (tourist) of Athens would pay $310 (global average price) for an overnight stay in a luxury hotel including breakfast and service charges.
Athens was on the same level of Madrid but slightly more expensive than Istanbul ($300).
However, an overnight stay in a 3-star hotel in Athens would amount to $110 while the average cost worldwide is $135. In Madrid the cost amounts to $140 while Istanbul is far cheaper as the price drops to $100.
The cost of a short city break in Athens for two has been calculated at $600 that is cheaper than the average, which reaches $650 (Madrid-$690 and Istanbul-$560).
Taxi rides in Athens also turn out much cheaper as for a daytime route of five kilometers in the city, cab drivers charge an average $9.1 while Athenians are only charged $3.9.