In a recent study conducted by the Economist Intelligence Unit, the world’s most expensive city has been identified, and it might not be where you think. Despite the UK’s soaring prices, it doesn’t claim the top spot in the Worldwide Cost of Living Index.
The index analysed prices and inflation in cities worldwide, considering over 200 common goods and services. The findings revealed that prices had increased by an average of 7.4 percent year on year in local currency terms. Although slightly lower than last year’s record of 8.1 percent, this increase is still significantly higher than the scores observed between 2017 and 2021.
So, which city takes the crown as the world’s most expensive? For the second consecutive year, Singapore holds the top position, while Zurich, Switzerland, climbed from sixth place last year to join Singapore at the top spot. The list continues with New York, USA, and Geneva, Switzerland, sharing the third position, followed by Hong Kong, Los Angeles, USA, Paris, France, and Tel Aviv, Israel, tied with Copenhagen, Denmark.
Here is the full list:
1. Singapore /Zurich, Switzerland
2. New York, USA / Geneva, Switzerland
3. Hong Kong
4. Los Angeles, USA
5. Paris, France
6. Tel Aviv, Israel / Copenhagen, Denmark
7. San Francisco, USA
Sven Franssen