< Back to blog

World’s most expensive cities revealed Posted On 22 March 2019

UK cities have risen up the list, but it’s a three-way tie at the top for the most expensive cities in the world!

 

This year, for the first time in its thirty-year history, the Economist Intelligence Unit’s (EIU) Worldwide Cost-of-Living Survey has Paris, Singapore and Hong Kong in joint place at number one.

 

Paris, which has been in the top ten since 2003 rose one spot, while Hong Kong rose three places and Singapore stayed at number one for the sixth year running. The survey shows that all three cities are 7 per cent more expensive than New York.

 

Zurich and Geneva complete the top five of the survey which compares the cost of 160 common items such as rent, food and public transport in 133 cities globally, using New York as a benchmark.

 

Only two UK cities were in the list; London rose eight places up to joint 22nd with Melbourne and Milan, and Manchester was joint 51st alongside Adelaide, Lyon and Boston in the USA.

 

Some may be surprised that London isn’t higher up, however, last year London had dropped to 30th in the list. The rankings show a recovery in value for Sterling amid ongoing politics and a surge in domestic prices as a major factor in its climb back up the list. London is still 14% cheaper than New York, which has an index of 100 for the survey.

 

US cities were the most expensive when it comes to utilities and domestic help, while Swiss cities Zurich and Geneva have the highest costs when it comes to personal care, household goods, recreation and entertainment.

 

Globalisation has been cited for the increased cost of living in the top ten with the author of the report, Roxana Slavcheva saying, “it is a testament to globalisation and the similarity of tastes and shopping patterns. Even in locations where shopping for groceries may be relatively cheaper, utilities or transportation prices drive up the overall cost of living.”

 

The survey is designed to help firms calculate the cost-of-living allowances and build compensation packages for expatriates and business travellers and is released twice a year.

 

Interestingly, while Asia has four cities in the top ten most expensive, it also has four in the top ten cheapest.

 

The 10 most expensive cities:

1 Singapore

1 Paris

1 Hong Kong

4 Zurich

5 Geneva

5 Osaka

7 Seoul

7 Copenhagen

7 New York

10 Tel Aviv

10 Los Angeles

 

The 10 cheapest cities:

1 Caracas

2 Damascus

3 Tashkent

4 Almaty

5 Bangalore

6 Karachi

6 Lagos

8 Buenos Aires

8 Chennai

10 New Delhi

< Back to blog

Connect with us

Recent Posts

Who won the Game of Thrones?

After 73 episodes and 8 years Game of Thrones is officially over (Spoiler Alert) The Game of Thrones final episode was viewed live or on catchup by over 19.3 million people, a figure expected to rise to over 50 million during the week, smashing the previous record. The final season has divided opinion, but with …

Read more...

Man City make history

Man City win the FA Cup to become the first club to win the domestic treble. It was a sunny Saturday afternoon at Wembley stadium setting the stage for a great underdog performance, but Man City dashed any hope Watford had of creating an upset in the 26th minute when David Silva scored the first …

Read more...

The Emirates FA Cup Final preview

Man City have the chance to make history when they meet Watford FC in the Emirates FA Cup final this weekend. Newly crowned Premier League Champions, Man City face Watford FC in the FA Cup final this weekend, hoping to win the Cup for the first time since the 2010/11 season when they beat Stoke …

Read more...

Protect your home

Your home is the most expensive thing you will ever own, so it makes sense to look after it and keep it secure. Here are our top security tips. Between January and December 2018 there were 380,517 reported burglaries in the UK*. The impact of burglary is severe; taking 8 months* for the average person …

Read more...

Man City retain Premier League title

Man City’s 14th consecutive win seals the first back-to-back title since 2009 There were no last-minute fireworks as Man City won the Premier League title for the fourth time with a 4-1 win against Brighton. In a thrilling title race, top spot changed hands 32 times in total and Man City clawed back a 7-point …

Read more...