The World’s 10 Most Expensive Cities

on March 7 2014 | in Lifestyle List of Lists | by | with 1 Comment

Singapore

The Economist Intelligence Unit’s bi-annual worldwide cost of living report has declared Singapore the most expensive city in the world, unseating Tokyo.

The worldwide cost of living index compares more than 400 prices across 160 products and services including food, drink, clothing, household supplies, personal care products, rent, property costs, transportation, utilities, and recreation.

Four cities in China made the list of 140 cities, though none were in the top ten. Hong Kong ranked as the 13th most expensive city, up from 14th in the last survey. Shanghai, Shenzhen, and Beijing ranked 21st, 39th, and 47th respectively.

The South China Morning Post attributes Hong Kong’s ranking to “currency appreciation and inflationary pressures.” The editor of the report, Jon Copestake, expanded on this, “Wage inflation has driven up local prices, but internationally, the impact of a stronger renminbi has also been felt.”

The cost of living continues to rise in mainland China and almost all the mainland cities climbed in their rankings compared to last year.

Here are the cities that ranked in the top 10 of the world’s most expensive cities:

1. Singapore
2. Paris
3. Oslo
4. Zurich
5. Sydney
6. Tokyo
7. Geneva
8. Melbourne
9. Caracas
10. Copenhagen

 


image source: ben spreng

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One Response to The World’s 10 Most Expensive Cities

  1. An article that has now largely been discredited because they measured everything in USD. No-one buys stuff in USD in Singapore (except American expats perhaps where the currency has depreciated 40% in 2 years) or anywhere else featured.
    So they didn’t factor in the currency movements against the US dollar. Bit of a problem. I live in Singapore and no way is it more expensive than New York or London or Tokyo. Plus the report didn’t include housing. A major cost expense….missing. Its a fun piece, but time to re-think the sophistication of that report.

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