Beirut: The latest mid-year ranking from the international website Numbeo, reviewed by the Iraqi News Agency (INA), reveals that Beirut continues to rank poorly among the world’s cities in the Quality of Life Index. Despite a minor improvement in the Cost of Living Index due to the stabilization of the Lebanese pound’s exchange rate after years of financial instability, the capital’s position remains grim on the global stage.

According to Iraqi News Agency, the report emphasizes that renewed inflationary pressures and declining purchasing power have hindered any significant improvement in the living standards of Beirut’s residents. The city’s global standing is particularly low, ranking 287th out of 305 cities surveyed. Furthermore, among Arab cities, Beirut is second to last in the Quality of Life Index, only surpassing Cairo, Egypt.

The report also highlights Beirut’s cost of living, which ranks it as the third most expensive Arab city, following Dubai and Abu Dhabi. This high cost of living, coupled with low purchasing power, contributes to the city’s low quality of life.

In contrast, Muscat in Oman ranks as the top Arab city for quality of life, placed 75th globally. Dutch cities continue to dominate the global rankings, with The Hague, Eindhoven, and Rotterdam occupying the top three positions.

Numbeo’s ranking incorporates eight indicators, such as purchasing power, safety, healthcare, and climate, which need high scores to indicate quality of life. Conversely, low scores are needed for indicators like cost of living, housing cost-to-income ratio, traffic, and pollution.

For Beirut, the Cost of Living index stands at 54.6 points compared to New York City, with notable figures including a Rental Price Index of 20.8 points and a Purchasing Power Index of just 32.00 points. These figures underscore the financial challenges faced by Beirut’s residents.

Historically, Beirut experienced a sharp rise in prices following the financial crisis of 2019, peaking in late 2022. Although prices slightly declined with currency stabilization in mid-2023, they have since risen due to regional security issues affecting oil and energy prices. By the end of May this year, the cost of living index in Lebanon had increased by 20%.