Every city has its upsides and downsides, including rent, connectivity and so on. The Economist Intelligence Unit’s Worldwide Cost of Living surveyed the most expensive cities in the world in 2023 —here’s the list!
Most Expensive Cities In The World 2023
Singapore and Zurich combined took first place in the Economist Intelligence Unit’s Worldwide Cost of Living survey, which produced this list. Singapore has shared the title of most expensive city in the world nine times in the last eleven years, with Zurich rising from sixth place in 2022.
Between August 14 and September 11, 173 cities were included in the poll, which compared costs for more than 400 goods and services. High prices for groceries, alcohol, clothes, and private vehicle ownership affect Singapore’s position, whereas high expenses for household goods and leisure activities are the reason for Zurich’s ascent.
According to the poll, cities are generally seeing price increases as a result of inflation. Prices for more than 200 goods and services increased by 7.4% annually, however, they were still lower than the year before. New York City, which tied for first place with Singapore the previous year, is currently tied for third place with Geneva, Switzerland.
The top ten US cities also include Los Angeles and San Francisco. Hong Kong came in fifth place even though Asia has lower inflation than other regions. Due to rising prices for groceries and apparel, Western Europe is more prevalent; cities like Zurich, Geneva, Paris, and Copenhagen are on this list. Copenhagen came in at number eight on the list, along with Tel Aviv.
Also Read: From Biggest Hot Dog To Most Expensive Fries, 8 Foodie World Records To Know About!
Here’s The Entire List
1. Singapore
Due to its continuously high prices for food, alcohol, clothes, and private vehicle ownership, Singapore tops the list and has become the most expensive city in the world for the ninth time in the past eleven years.
2. Zurich
Due in large part to increased prices for recreational and domestic goods, Zurich has moved up from sixth place in 2022 to second place this year, further solidifying Switzerland’s reputation for having expensive living expenses.
3. New York City
Although it was formerly tied for first place with Singapore, this city is still among the most expensive in the world because of the persistently high costs of a wide range of goods and services.
4. Geneva
Geneva, which is tied for third place, is notable for its high costs associated with groceries and apparel; this is consistent with Switzerland’s general pattern of high-cost cities.
5. Hong Kong
Ranking fifth in the world, Hong Kong draws attention to its expensive living standards even though inflation in Asia is lower than in other continents.
6. Los Angeles
Because it is one of the largest US metropolitan centres and has high living expenses, Los Angeles is also among the most expensive cities in the world.
7. Paris
Paris is one of the four European cities in the top 10, mostly because of its exorbitant grocery and apparel prices, which have made it known as an expensive worldwide city.
8. Copenhagen
Copenhagen shares eighth place, demonstrating Denmark’s inclusion on the list as a result of rising food and apparel prices.
9. Tel Aviv
Tel Aviv is regarded as one of the most expensive cities in the world to live in, tied with Copenhagen at number 8.
10. San Francisco
San Francisco, like other major US cities on the list, is ranked among the top 10 because of its high cost of living.
Also Read: New York Tops The Chart Of The Most Expensive Cities For Business Travel
Comment below and share your thoughts about the most expensive cities in the world in 2023.
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