New York and Sydney are the most expensive cities in the world for short-term parking, according to the Global Parking Index report based on Parkopedia dataset.

Parking vehicles for two hours in these cities cost an average of $30.

This dataset covers more than 50 million parking spaces across 6,500 cities in 75 countries.

Around six locations in central Sydney charge around $51 for two-hour parking slot, while two locations in New York charge $62 for the same amount of hours, which is the highest short-term parking rate in the world.

London and Tokyo are the only non-Australian/American cities to figure in the top ten list.

Germany has, however, relatively cheaper parking rates compared to these cities despite it being largest economy in Europe. The most expensive city in terms of short-term parking in Germany is Munich where an average cost is around $5.69 for two hours. 

"A hotel in central Sydney charges the world's highest daily parking rate at $111 a day."

Although Sydney and New York feature at the top of the list of most expensive cities for daily parking, major European cities also figure in this list. 

In US and Australia, the parking cost is the highest in the first few hours. As a result, these countries figure in the world's highest two-hour parking rates. Drivers in other countries, however, pay the same cost for every hour of parking.

A hotel in central Sydney charges the highest daily parking rate in the world – $111 a day, while rooms at the hotel cost around $200. 

London, New York and Zurich have the highest long-term parking rates in the world.

A parking lot in New York charges $62 for two hours, $86 per day, and $2,000 per month. Monthly parking in Germany costs $108, which is $1 less than either Portugal or Greece.