Monday, 21 March 2016

Study Reveals Most Expensive Cities to Buy a Glass of Wine

The results of a new study should prove invaluable to wine tourists. The research has shown the five most expensive cities on earth to buy a glass of wine.

Wine travel

Travelling the world to experience different wine cultures can be an incredibly fruitful endeavour. It can allow you to learn more about grape production, give you the opportunity to sample local varietals and provide you with the chance to visit some of the most famous wine bars on earth. 

Ideal Wine Company previously revealed what we believe are the top five wine destinations of 2016. They included fabulous metropolises such as Porto, the global capital for the Port wine industry and Hong Kong, where you can find some of the most breath-taking Bordeaux's you’ll ever taste.

Expensive cities

The latest version of The Economist’s bi-annual ‘cost of living report’ has shown which cities have the most expensive wine prices. Online industry portal The Drinks Business explains that this study determines a city’s overall cost of listing by considering over 50,000 individual prices throughout more than 400 products and services.

The report looked at everything from the cost of pint of milk to the price of a bottle of wine. Through this analysis the research discovered that overall, Singapore is the most expensive city in the world. This is the third year in a row the South East Asian metropolis has earned this title, “but its lead over the next two cities in the ranking has nearly evaporated.”

Further analysis

Continuing, the report writes: “Zurich and Hong Kong follow closely in joint second place, with Hong Kong climbing seven places up the ranking in the last 12 months. London, New York and Los Angeles also move up the ranking to 6th, 7th and 8th place, respectively, displacing Sydney, Melbourne and Oslo from the ten most expensive cities.

“New York and Los Angeles move up the ranking because of currency headwinds rather than significant local price rises. In fact, the opposite may be true. With the falling cost of oil and a strong US dollar pushing down prices, local inflation has been relatively low across the US. Despite this, New York is in its highest global position since 2002 and has risen by some 42 places up the cost of living ranking since 2011, when it was barely among the 50 most expensive cities, let alone the top ten.”

Take it online

Rather than buying a glass of wine, you may wish to take the more cost effective option of purchasing a bottle online. Figures from Rabobank, a financial services company, suggest that Britons are increasingly buying wine online. At online wine retailer Ideal Wine Company, you can find a great selection of Bordeauxs for prices your wallet is sure to love!