While living in a major city can be a lot of fun, as there’s often a ton of things to do and a lot of culture to experience, it can get extremely expensive.
Prices in cities seem to keep going up, and although many people feel the need to move to a major city for work or self-discovery, it can seem like an impossible mission if you can’t afford the lifestyle.
When I ask you what the most expensive city in the world is, what comes to mind?
A recent annual report by Economist Intelligence for their 2023 Worldwide Cost of Living survey collected data from 173 major cities worldwide to list the most expensive cities to live in around the world.
According to the report, prices for the cost of living in these cities increased by 7.4%. But which cities exactly are the most expensive to live in?
Singapore and Zurich are tied for first place on Economist Intelligence’s list. Last year, New York and Singapore were tied, which may not surprise people, as New York City has a reputation for being expensive.
However, Zurich made a jump all the way from the sixth most expensive city to the first. The report states this is most likely because of the Swiss currency, francs, as well as their high grocery and household goods prices. Some of the most costly expenses in Singapore include transportation and clothing.
New York City has been bumped down to the third most expensive city and is tied with Geneva. Both cities are followed by Hong Kong, Los Angeles, Paris, Copenhagen, Tel Aviv, and San Francisco.
So, to sum up this list, four of the most expensive cities are European, three are American, and two are Asian. This data is quite fascinating, as some cities on the most expensive list are surprising, while others are expected. For instance, did you expect Zurich to be listed so high?