Therese Sta. MariaAn updated list of the world’s most expensive cities to live in has just been released by the Economist magazine. The study was conducted via the Worldwide Cost of Living (WCOL) Survey from the Economist Intelligence Unit; and surprise, surprise, Hong Kong actually dropped down to fifth place while Singapore came on top of every other Asian nation. In the whole world though, Tel Aviv in Israel proved the most expensive city.
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Most expensive cities in the world
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Tel Aviv reportedly climbed to the top thanks to the strength of the national currency, Israeli shekel, which was benchmarked against the US dollar. This, along with the city’s increases in transport and grocery prices solidified its number one spot. Here are the top 10 most expensive cities in the world. Note that Paris and Singapore tied at number two with a WCOL index of 104.
- Tel Aviv – 106
- Paris – 104
- Singapore – 104
- Zurich – 103
- Hong Kong – 101
- New York City – 100
- Geneva – 99
- Copenhagen – 97
- Los Angeles – 96
- Osaka – 94
The WCOL report evaluates 173 cities across the world and considers the prices of more than 200 goods and services. These include food, drink, clothing, household supplies, transport, and utility bills. Meanwhile, there’s also a ranking of the best cities to live in if you’re an international student, with different factors considered. Read about it here.
Do you live in one of these most expensive cities? Let us know about your cost of living and experiences in the comments section of our Facebook page!
Featured image credit: Guo Xin Goh | Unsplash
