Londoners have long suspected it, and now a major financial report confirms it: hailing a cab in the capital is one of the costliest experiences on the planet. According to Deutsche Bank's Mapping the World’s Prices 2025 analysis, London has secured the unwelcome title of the fifth most expensive city in the world for taxi journeys.
The High Cost of a Short Hop
The study examined the average price for a standard 5-kilometre trip, encompassing both traditional black cabs and app-based services like Uber and Bolt. In London, that short journey will now set passengers back an average of £17.26. This places the UK capital ahead of other notoriously pricey destinations such as Amsterdam, Milan, and Tokyo.
European cities dominated the upper echelons of the ranking. Topping the list was Zurich, Switzerland, where the same trip costs a staggering £20.40. It was followed by Paris (£26.50), Luxembourg (£19.43), and Geneva (£18.76). The data shows a significant gap between European fares and those in major US cities; New York ranked 20th at approximately £11.69, while San Francisco came in 24th at £10.58.
Volatility and the Future of London Cabs
Deutsche Bank noted that taxi fare data proved to be “some of the most volatile” in their entire study. Analysts suggest this instability is likely a consequence of the disruptive introduction of ride-hailing apps over the past decade, which has continually reshaped pricing models and market competition.
The landscape for getting around London is poised for even more dramatic change. The report's release coincides with plans for several driverless 'robotaxi' services to launch in the capital during 2025. This technological shift could fundamentally alter the cost and structure of point-to-point travel in the city in the near future.
The Global Picture: From Cairo to Zurich
At the opposite end of the affordability scale, the report identified Cairo, Egypt, as the world's cheapest city for a taxi. A 5km journey in the Egyptian capital costs just £1.42 on average, highlighting the vast global disparity in transport costs.
For Londoners feeling the pinch, the findings offer little immediate relief but provide solid validation for that familiar wince as the meter ticks ever upward. With robotaxis on the horizon, the only certainty is that the cost and experience of taking a cab in London are in for a turbulent ride.
