Earlier this week we reported how tolls on some of Sydney’s roads are rising at triple the rate of inflation, which is hammering household budgets. The news cam after The ABC revealed earlier this year that Sydney’s toll road network is the most expensive and extensive in the world.
Now, Statista has revealed that Sydney also has one of the most expensive public transport systems in the world:
Deutsche Bank recently released the 8th edition of its annual survey of global prices and living standards from various cities and countries. Among the many different categories analyzed was the price of public transportation in 55 major cities. The research uncovered a major disparity in the cost of a monthly ticket and it ranged from $89 in Berlin to just $15 in Buenos Aires on average.
No wonder so many local residents are leaving Sydney. The cost of living has simply become too high.
Leith van Onselen is Chief Economist at the MB Fund and MB Super. He is also a co-founder of MacroBusiness.
Leith has previously worked at the Australian Treasury, Victorian Treasury and Goldman Sachs.
