Singapore, most expensive destination 2018
Like last year, Singapore is the world’s most expensive city. The other four cities in the world’s top five of expensive destinations are Paris, Zurich, Hong Kong and Oslo. Low inflation rates have pushed Tokyo and Osaka out of the top 10 of expensive destinations.
The rankings are based on the findings of the latest Worldwide Cost of Living Survey by the Economist Intelligence Unit. The survey compares more than 400 individual prices across 160 products and services. These include food, drink, clothing, household supplies and personal care items, home rents, transport, utility bills, private schools, domestic help and recreational costs.
Tel Aviv, which was ranked 34th just five years ago, is now the ninth most expensive city in the survey. Currency appreciation played a part in this rise. Paris (2nd) has featured among the top ten most expensive cities since 2003.
The cheapest destinations in the world, largely due to weak local currencies, and ongoing crisis situations, are Damascus (Syria), Caracas (Venezuela) and Almaty (Kazakhstan).
2018’s top 10 of most expensive cities:
- Singapore, Singapore
- Paris, France
- Zurich, Switzerland
- Hong Kong, Hong Kong
- Oslo, Norway
- Geneva, Switzerland
- Seoul, South Korea
- Kopenhagen, Denmark
- Tel Aviv, Israel
- Sydney, Australia
Further reading on eiu.com
