from the Times of India
This list has been compiled by Economist Intelligence Unit’s Worldwide Cost of Living survey, in which Singapore and Zurich have jointly claimed the top spot. This is Singapore’s ninth time in the past 11 years as the world’s most expensive city, sharing the position with Zurich this year, which rose from sixth place in 2022.
The survey, conducted from August 14 to September 11, covered 173 cities and compared prices for over 400 items and services. Singapore’s ranking is influenced by high costs in groceries, alcohol, clothing, and private car ownership, while Zurich’s rise is attributed to elevated prices for household items and recreational activities.
The survey indicates a trend of cities experiencing higher prices due to inflation, with a 7.4% year-on-year increase in prices for over 200 goods and services, albeit lower than the previous year. New York City, sharing the top spot with Singapore last year, now ties for the third position with Geneva, Switzerland.
Other US cities in the top 10 include San Francisco and Los Angeles. Despite lower inflation in Asia compared to other regions, Hong Kong secured the fifth spot.
Western Europe is prominent due to inflation in groceries and clothing, with Zurich, Geneva, Paris, and Copenhagen making the list. Tel Aviv also featured in the list with Copenhagen at number 8.
Do note that this survey was conducted before the Israel-Hamas war [which may have lowered Tel Aviv a bit from its 10th place here —Eds].
Here’s the list of the world’s most expensive cities to live in.
