No matter where you live in the world, the cost of living seems to keep rising. While you might be begrudgingly paying a little extra for your morning brew, bag of groceries or dry cleaning there is a chance that there are far more places that every little thing you do – except perhaps playing online Blackjack – would cost a little – or a lot – more.
This year’s Worldwide Cost of Living Survey from the Economist’s Intelligence Unit has revealed the most expensive cities to live in. The report ranks 133 cities around the world according to the price of more than 400 individual prices across 160 products and services.
These are the six most expensive cities in the world, according to the Worldwide Cost of Living Report:
The jewel in Southeast Asia’s crown, Singapore holds the title as the world’s most expensive city for the fifth consecutive year in a row. This affluent city with a population totalling just over 5.3 million people boasts a balmy tropical climate, striking skylines, great food and a vibrant culture that has proud Chinese, Malay and Indian influences. Described as one of Asia’s economic “tigers”, Singapore is a thriving financial hub, far removed from its humble beginnings as a British colonial trading post. A decent 750ml bottle of table wine will set you back $23.86 in this fair city, while a loaf of bread will cost you $3.71. While household goods remain significantly cheaper than other major Asian cities, the high cost of car ownership is the driving factor behind its top ranking.
Paris reclaimed its title as the world’s second most expensive city, up from seventh place in 2017. It is the only euro zone city that has ranked within the top 10. Known the world over for its fashion, culture and cuisine, the city of Paris is one of the most visited tourist destinations in the world. While a brief stay in the City of Lights might strain your wallet, those who call it home need to be particularly money-savvy. Cigarettes, alcohol and transportation offer Parisians value for money in comparison to other European cities, however the city has some of the highest rental costs in all of Western Europe.
Sharing the second spot with Paris is Zurich, rising up one place from last year’s rankings. Despite its relatively small population, it is known as one of the world’s most powerful financial capitals and consistently ranks in the top ten list of most liveable cities in the world.
Having ranked as the second-most expensive city in the world in 2017, Hong Kong has slipped to fourth place. Hong Kong is a major port and like many of its top-ranking counterparts, the city is an established global financial hub. Along with Tokyo and Seoul, Honk Kong is the most expensive place in the world to buy staple goods. Its skyscraper-studded skyline may well be awe-inspiring but so are its exceptionally high rental and accommodation costs.
The Norwegian capital clinches the fifth spot in this year’s Worldwide Cost of Living Report. Oslo ascended six spots up on the list after holding down eleventh place last year. Oslo is Europe’s fastest-growing capital and was named European Green Capital for 2019. This rapidly growing urban metropolis has one of the lowest carbon footprints in the world and is celebrated for its excellent city planning, public transportation and commitment to sustainable food production.
Surrounded by the Alps and boasting a view of the iconic Mont Blanc from within its city limits, Geneva makes the list in sixth place. Geneva is a global hub for diplomacy and is the headquarters of Europe’s United Nations and Red Cross. Its residents may endure a considerably high cost of living but it appears to be worth it as the city consistently ranks as one of the most liveable in the world.