10 most expensive cities in the world

I’m sure many of you have moved in the recent past so why are you moving to a new city. We are sure that the “cost of living” is invariably mentioned among the reasons why goods and services have a cost.

The coronavirus pandemic has made us all think, to move forward with the project of living our dreams, to start from scratch, to move. As you expect, below is the list of expensive cities covered in our article which will be helpful in your decision making process.

The latest list of the world’s most expensive cities was compiled by The Economist Intelligence Unit (EIU) comparing US dollars for goods and services in 173 cities. Shekel, the Israeli currency has skyrocketed, which has helped Tel Aviv from fifth place last year to first place this year.

The 10 most expensive cities in the world to live; Tel Aviv tops the list

Tel Aviv is Israel’s technology hub. It has beaches, museums, vibrant nightlife, skyscrapers, diverse culture, and food to die for. A small apartment in the city will cost you up to $ 1,200 per month, lunch will cost you $ 15, and beer can cost around $ 3. No wonder Tel Aviv is the most expensive city in the world.

“Although most of the world’s economies are now recovering as Covid-19 vaccines are rolled out, many major cities are still experiencing spikes in cases, resulting in social restrictions. These have disrupted the supply of goods, leading to shortages and higher prices, ”said Upasana Dutt, Global Cost of Living Manager at EIU.

The biannual Global Cost of Living Survey is conducted by EIU in which they compare over 400 individual prices ranging from around 200 goods and services in 173 cities.

Upasana added, “In the coming year, we expect the cost of living to rise further in many cities as wages rise in many industries. However, we also expect central banks to cautiously raise interest rates to contain inflation. Price increases should therefore start to moderate from this year’s level.

Here is the full list of the 10 most expensive cities in the world.

1. Tel Aviv, Israel

Tel Aviv, the capital of Israel, is the most expensive city in the world. Compared to last year, Tel Aviv has jumped 4 places this year due to the phenomenal strength of the national currency, the shekel, and rising prices for transportation and groceries. . Tel Aviv is the economic and technological center of the country with a population of over 460,000.

2. Paris (second spouse), France

Paris, the capital of France, lost its number one rank last year and slipped to second place in the list of the most expensive cities in the world. Paris is the most populous city in France with an estimated population of 2.1 million. Paris is known for its museums as well as for its architectural monuments.

2. Singapore (second spouse)

Singapore is ranked second on the list this year along with Paris. The homeownership rate in this city is around 91% and it ranks high in various key social indicators such as education, health care, quality of life and personal safety.

4. Zurich, Switzerland

Zurich occupies fourth place in the list of the most expensive cities in the world. It is the financial capital of Switzerland, home to international organizations such as the WTO, WHO, ILO, FIFA headquarters, the second largest UN office and the Bank for International Settlements.

5. Hong-Kong

Hong Kong is a special administrative region of China that regularly appears on the list of the world’s most expensive cities to live in every year. It is one of the most densely populated places on planet Earth. This year, it was in fifth place as prices for clothing and personal care declined.

6. New York, United States of America

New York, which is America’s most expensive city, ranks sixth in the list of the most expensive cities in the world. New York serves as a barometer for the cost of living index. New York, often used as NYC for short, is the most populous city in the United States with a population of 8.8 million.

New York plays an important role in international diplomacy, which is why it is often called the capital of the world.

7. Geneva, Switzerland

The city of Geneva is the second most populous city in Switzerland after Zürich which ranks seventh on our list of the most expensive cities in the world. Geneva was ranked world first in 2018 by global wealth management firm UBS in terms of gross profits and fourth in terms of purchasing power.

8. Copenhagen, Denmark.

Copenhagen is the capital of Denmark and it is one of the most populous Danish cities in Europe. The city has about 800,000 inhabitants. Copenhagen is considered one of the most cycling cities in the world.

9. Los Angeles, United States of America

Los Angeles is America’s second largest city, famous for its cultural and ethnic diversity. It is the ninth most expensive city in the world with a population of 3.9 million. The Port of LA is the busiest container port in the United States.

10. Osaka, Japan

Osaka is a large port city which is also a commercial center on the Japanese island of Honshu. It is the only city in Japan to appear in the list of the most expensive cities in the world. Osaka has a population of 2.7 million as of 2020 which is considered to be one of the most multicultural and cosmopolitan cities in Japan. The city is famous for its captivating architecture, nightlife and lip-smacking street food.

On the other hand, the city of Damascus, the capital of Syria, is ranked as the cheapest city in the world, followed by Tripoli in Libya and Tashkent, the capital of Uzbekistan.

Well, if you are from one of these more expensive cities, share your thoughts by checking out our comments section!

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