Singapore has once again secured the position as the world’s most expensive city to live in, according to the Economist Intelligence Unit’s Worldwide Cost of Living survey. This marks the ninth time in 11 years that Singapore has claimed the top spot.
The survey, conducted from August 14 to September 11, analyzed over 400 prices across 200 products and services in 173 cities. Singapore’s top ranking is attributed to the high costs of groceries, alcohol, clothing and private vehicle ownership.
Hong Kong, similarly to Singapore, is a small city-state with a thriving financial center, secured the fifth spot on the list, while Copenhagen, Denmark, was ranked as the eight most expensive city in the world. The top 10 includes two Asian cities, four European cities, and three U.S. cities.
Tel Aviv, Israel, also made the list. The survey notes that the rankings were conducted before the latest outbreak of the Israel-Hamas conflict.
The list:
1. Singapore
1. Zurich
3. Geneva
3. New York
5. Hong Kong
6. Los Angeles
7. Paris
8. Copenhagen, Denmark
8. Tel Aviv
10. San Francisco
Source: cnbc.com
Housing costs, particularly in Singapore and Hong Kong, have skyrocketed, while everyday expenses like groceries and transportation also bite into residents’ wallets. Despite the financial strain, these cities continue to attract talent and investment, drawn by their stability, innovation, and global connections.