The World’s Most Expensive (and cheapest) cities revealed.
It’s no surprise to any global traveler that Paris, Singapore and Hong Kong have been named the most expensive cities in the world.
Singapore is the only city surveyed to maintain its top 10 rating, and for Paris, it is the 16th consecutive year they have been in the top 10 most expensive cities in the world. (Here are some of the cities best coffee shops for more incentive to visit).
It’s the first time three cities have shared the top spot, in the annual study that considers food, transport and rent as well as the cost of 1kg of white bread, a staple in almost every city.
What may surprise is that in Australia, Melbourne dropped to 22nd, but is are still ranked amongst the most expensive cities in the Asia Pacific. Whilst Adelaide (51) and Perth (64) had huge reductions in the index, making them a cheaper Australian residential option.
Sydneysiders might be shocked to know their city didn’t make the top 10 and in fact dropped to 16th, making it more affordable than this time last year according to the study.
But Sydney is officially more expensive than London according to the index. Londoners might be even more stunned to hear their city came in at number 22 behind Dublin (19) and surprisingly for the UK, Manchester is the second most expensive city after London at (51).
Zurich, Switzerland is number 4, Geneva, tied at number 5 with Osaka Japan. Seoul, Copenhangen and New York share 7th place. Then Tel Aviv and LA share 10th spot.
Emerging economies including Itsanbul, Moscow and St Petersburg fell largely due to high inflation and currency depreciation.
1. Singapore, Singapore
1. Paris, France
1. Hong Kong, China
4. Zurich, Switzerland
5. Geneva, Switzerland
5. Osaka, Japan
7. Seoul, South Korea
7. Copenhagen, Denmark
7. New York, US
10. Tel Aviv, Israel
10. Los Angeles, US