What are the most expensive cities in the World? Let me guess. I think you would respond London, New York and astonishingly, they are not according to the top ten in the Economist Intelligence Unit’s 2016 Worldwide Cost of visiting survey. What grabbed our notice was the fact that there wasn’t an only North American city in this list. Game and free markets seemingly didn’t let prices go too high. It is a well-known fact that US travelers spend the most on business travel, but usually European cities are most expensive than U.S.
However, the rankings will probably change in 2016 as the euro declined nearly 20% against the dollar. We must note that these rankings aren’t identical to the cost of living rankings. Here is what Economist said about its cost of living rankings: Asia and Western Europe, according to the bi-yearly cost of living formula from the Economist Intelligence Unit, our corporate sibling.
Singapore retains the top spot as weak inflation and the yen’s devaluation have pushed Tokyo and Osaka to 11th and 16th place respectively. Asia is also home to various of the world’s cheapest cities. Karachi and Bangalore are the joint cheapest locations in the 133 cities in the survey, and five of the six poorest cities surveyed are in Pakistan and India. Caracas’s descent from top ten to back five is due to the survey’s use of an alternative exchange rate. The cost of being in New York has risen by about 23% over the past five years.”
List of Top Ten Most Expensive Cities In The World 2015 Rankings
10. Copenhagen, Denmark
According to the former Economist report, the Danish capital, Copenhagen was in 15th place, although it is now in the top ten. Though you will be to understand that Copenhagen became top in the UN’s first World Happiness Report. So, certainly people come to tour this city will be delighted.
9. Melbourne, Australia
Melbourne is one of the most expensive cities in the world. Though the cost of some products has decreased, butts are still at a price around $18 AUD a packet. Looks like smokers have to wait quietly for a while visiting Melbourne.
8. Geneva, Switzerland
Geneva is widely popular as one of the most expensive cities around the world. Living cost is on a high day after a day. As consequence, it is tough to find a suitable place within your budget. On the real side, unleaded petrol costs less than $2 per liter in this city, and Geneva is the only North European city in the top ten to have it.
7. Caracas, Venezuela
Caracas is the top most expensive city to visit in the Americas. It is the capital of Venezuela and is a position where even the rent of typical one-bedroom apartment costs 2.5 times the normal salary in that region.Black market and also unofficial market rates are present over there and are helping people in slightly to reduce the official and original costs.
6. Tokyo, Japan
The capital of Japan, Tokyo is ranked amid the ten most expensive cities in the world to visit, and it was once top ten of the Economist’s survey. Due to falling Yen, it is now in the sixth position along with Melbourne, Geneva and Caracas. We recently wrote a very interesting article about Japan titled “50 Crazy Facts About Japan“.
5. Sydney, Australia
Sydney, forward with Melbourne is on the top ten in our list, and it is the most expensive place to buy properties in Australia. As mentioned before, tobacco is most expensive in Australia, and so it is in Sydney. Alcohol is also very expensive and also going for a movie in cinema theaters is even 50% more expensive than New York City.
4. Zurich, Switzerland
People of Switzerland have the advantage of high salaries and small rates of tax, but that still doesn’t suggest that it’s less expensive to live and visit. It has higher rates for food, insurance and other services than most of the other European countries. Thus, Zurich ranks high on the list.
3. Oslo, Norway
Oslo is considered the third most expensive city in the world, that is why the inclusion of this city is a must in our list. Drinks are expensive here that beer will cost you around 82 NOK.
2. Paris, France
The French capital, Paris is on the list due to higher rates of living comparing other big cities. The rate for per square feet is also more than that London. The Eiffel Tower is in this city, giving Paris surely a huge attraction for tourists thus expensive to visit.
1. Singapore City, Singapore
Singapore City ranks first among top 10 most expensive cities in the world to visit while London is not even in the top ten. The cost of cars is almost four or five times comparing with that in North Europe or the US, and the charge of the service is sky high. It is the most expensive place in the world to buy clothes; economy depends heavily on introduced commodities and has a progressively strong currency. The city’s transport costs are almost three times more than New York, which it used as a standard for comparisons.