City life can be a bit expensive but there is something that keeps drawing people in every time… the lights, the action, the hustle and bustle. For some this cost is so high that they are literally spending money while standing.
Here are the top ten most expensive cities in the world according to the Economist Intelligence Unit’s (EIU) bi-annual Worldwide Cost of Living report:
- Singapore, Singapore: In the number one spot for the second year in a row is the tiny island of Singapore. Going shopping? You might consider doing it somewhere else as the clothes here cost 50% more than in New York!
- Paris, France: The romantic capital of the world hasn’t missed out on cashing in from the tourists (and all others that live there). An average 1kg loaf of bread will set you back US$8.83 !
- Oslo, Norway: This 1,000 year-old capital is the main hub of Norwegian trade, banking industry and shipping. Hosting 2,654 of the country’s largest companies it’s no wonder demand and costs are high. A 20 pack of branded cigarettes will amount to US$15.42 .
- Zurich, Switzerland: Deemed as the city with the best quality of life in the world as well as Europe’s wealthiest city, the good life doesn’t come cheap. The average price of 1 liter of unleaded petrol here is US$2.07 .
- Sydney, Australia: Residents in the most expensive city in Australia possess the highest purchasing power of any city after Zurich. The average bottle of wine costs US$23.63but workers receive the 7th highest wages in the world.
- Melbourne, Australia: Shortly following after their Australian counterparts, the cost of living is roughly the same with a bottle of wine averaging at US$23.32 .
- Geneva, Switzerland: It is Well known for being a world financial center and a diplomatic capital due to the presence of many international organizations, most popularly, the UN and Red Cross.
- Denmark, Copenhagen: A loaf of bread here will cost you US$4.18, which is more expensive than in Singapore.
- Hong Kong, Hong Kong: One of the world’s leading financial centers. This is a city of millionaires with 8.5% of the population owning at least $1 million US Dollars.
- Seoul, South Korea: An average bottle of wine will cost you US$27.66 in the modern metropolis that is the capital city of South Korea. This is more expensive than any other place on the list by at least US$4!