Cities With the Highest Cost of Living
The Economist Intelligence Unit’s Worldwide Cost of Living survey named Singapore the world’s most expensive city for the fifth year in a row last week. Using New York as a benchmark, the research compared the price of over 150 items in 133 different cities with Singapore scoring 116. That made it 16 percent more expensive than the Big Apple. Three other cities in the Asia-Pacific region are among the world’s ten most expensive cities – Hong Kong, Seoul and Sydney. Their presence high up in the ranking is as a result of regional economic expansion which has driven up costs.
Many European cities are still among the most expensive places to live in the world with Paris, Zurich, Oslo, Geneva and Copenhagen all present in the top-10 ranking. In the US, the cost of living has fallen slightly, resulting in both New York and Los Angeles slipping outside the top-10. Israel is also well known for its high costs and Tel Aviv is the only Middle Eastern city in the top-10 with a score of 102.
Infographic: The Cities with the Highest Cost of Living.
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