Moscow residents’ housing costs in 2020 amounted to 16.5 per cent of total consumer spending, which is 1.8 times lower than in Paris and London, the official website of the Moscow Mayor reports.
At the end of 2020, Moscow ranks sixth in the top ten megacities in the world in terms of consumer spending. At the same time, the share of spending on housing in the overall structure of consumer spending, according to the Euromonitor international group, in Moscow last year was lower than in most cities in the top 10 largest world capitals. In addition to Moscow, the monitored group also includes Beijing, New York, Paris, Berlin, Delhi, Istanbul, London, Tokyo, and Rio de Janeiro.
“Expenses on housing, including utilities and rent payments, in Moscow in 2020 amounted to 16.5 per cent of total consumer spending. This is 1.8 times less than Paris and London, where similar expenses in 2020 exceeded 30 per cent, and 2.1 times less than in Beijing, where the share of housing costs amounted to 35.2 per cent,” the Head of the Moscow Department of Economic Policy and City Development, Kirill Purtov, said.
In turn, last year Muscovites spent 5.3 per cent of consumer spending on clothing and footwear, and 4.5 per cent on household goods and services, which is comparable to the share of similar expenses in New York (4.1 per cent), Paris ( 4.4 per cent), and London (4.2 per cent).
It is specified that Muscovites’ spending on leisure and recreation accounted for 6.6 per cent of total consumer spending, which is more than in Beijing, Delhi, Istanbul, and Rio de Janeiro but less than in Tokyo, Paris, and New York, where these expenditures took about 7.5-8.5 per cent of the total costs. The maximum share of spending on leisure and recreation in the structure of consumer spending in 2020 was observed in Berlin (12.2 per cent).