Most Expensive Cities in the World - Singapore

This is the most expensive city in the world. Can you name it? (Photo: William Cho – CC)

For years, Tokyo occupied the top position as the world’s most expensive city. Due to the Japanese yen’s depreciation, as well as high appreciation of other countries’ currencies, the city has dropped a few positions and is now the sixth most expensive on earth.

According to the US magazine The Economist’s Cost of Living survey 2014, Singapore is now the world’s most expensive city to live in. This is due to a few factors, which include currency appreciation, high costs of clothes and all things related to cars, from purchase to maintenance.

The survey is based on 131 cities worldwide and takes New York as a benchmark, with factor 100. Any cities with higher cost of living is scored over 100 points, whereas those cheaper than the Big Apple stay below 100. Australia, which used to be relatively inexpensive a decade ago, appears on the top ten list with two cities, the same number as Scandinavia and Switzerland.

Despite its reputation as an expensive city, London is in 15th place, New York 26th, and Vancouver appears as the 30th most expensive city to live. Bucharest, in Romania, is Europe’s cheapest capital, according the report, which shows Mumbai and New Delhi, as two of the cheapest cities in the world.

MOST EXPENSIVE CITIES IN THE WORLD 2013

1- Singapore
2- Paris, France
3- Oslo, Norway
4- Zurich, Switzerland
5- Sydney, Australia
6- Caracas, Venezuela
6- Geneva, Switzerland
6- Melbourne, Australia
6- Tokyo, Japan
7- Copenhagen, Denmark

Most Expensive Cities in the World: Bucharest at the bottom

Bucharest, in Romania, is Europe’s cheapest capital

THE WORLD’S CHEAPEST CITIES TO LIVE

122 – Riyadh, Saudi Arabia
123 – Jeddah, Saudi Arabia
124 – Panama City, Panama
125 – Bucharest, Romania
126 – Algiers, Algeria
127 – Damascus, Syria
127 – Kathmandu, Nepal
128 – New Delhi, India
129 – Karachi, Pakistan
130 – Mumbai, India

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4 Responses

  1. Alex Traveling

    Great post, Pedro!

    I really didn’t expect these kind of results. Also if you look at Telegraph’s results, London is the most expensive city in the world and Singapore ranks #7. I am also surprised Bucharest ranked as one of the cheapest… I’ve been there a few years ago and although it is cheaper then many other cities in Europe, it’s not all that cheap.
    Alex Traveling recently posted…How To Get Around Warsaw (Without a Car)My Profile

    Reply
    • Pedro Richardson

      Hi Alex! Thanks for your comment. I hadn’t seen the Telegraph list and just read it. That’s very interesting, both lists contradicts each other! That’s probably got something to do with the criteria each survey used – which makes it more intriguing.

      Reply
  2. Zara @ Backpack ME

    Quite interesting!

    I am currently in New Delhi and all I can say is that: it can be very cheap, but also quite expensive, depending for what! Real estate, for instance, is not cheap at all beyond a certain (not that high) standard.

    I had recently read that Caracas was amongst the most expensive in the world. I was very surprised then!
    Zara @ Backpack ME recently posted…The other side of the World Cup in AFRICAMy Profile

    Reply
    • Pedro Richardson

      Hi Zara! That’s interesting about New Delhi! I was in shock when I saw Caracas is considered as expensive as Tokyo, and more expensive than London. Strange, isn’t it?

      Thanks for the visit!

      Reply

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