Singapore and Zurich are the world’s most expensive cities to live in, according to a new report. The Southeast Asian hub retained the spot it held last year, with Switzerland’s largest city jumping from sixth place in 2022. Singapore has led the pack nine times in 11 years, while Zurich returns to the top after a three-year gap.
New York, joint top a year ago, has slipped to second place, level with Geneva, according to the latest edition of the Economist Intelligence Unit’s (EIU) World Cost of Living report.
London finds itself outside the top 10 in 12th place on the 173-strong list, jumping up the list from 28th last year, while Manchester is among the biggest risers, jumping 31 places to be the 42nd most expensive city in the world.
Hong Kong, Los Angeles, Paris, Copenhagen, Tel Aviv and San Francisco round out the rest of the top 10.
Western Europe, which accounts for four of the 10 most expensive cities, saw “volatile inflation in food, clothing and personal care, along with the appreciation of the euro and other local currencies in the region”, which “led them to growth”. ranking,” the report said.
At the other end of the list, Damascus in Syria remains the cheapest city, followed by Tehran in Iran, Tripoli in Libya and Karachi in Pakistan.
The Russian cities of Moscow and St. Petersburg saw the biggest declines in the rankings as sanctions imposed after the large-scale invasion of Ukraine weakened the ruble. The Worldwide Cost of Living Report is an annual study by EIU, the research and analysis division of The Economist Group.
These are the top 10 most expensive cities in the world, with their 2023 ranking. Some cities are tied.
Singapore — 1
Zurich — 1
Geneva — 3
New York — 3
Hong Kong — 5
Los Angeles — 6
Paris — 7
Copenhagen — 8
Tel Aviv — 8
San Francisco — 10
