Singapore, Zurich most expensive in the world

Singapore has been at the top of the list of cities with the most expensive cost of living in the world for many years (Photo: CNBC).

According to the ranking published on November 29 by The Economist magazine (UK), Singapore and Zurich (Switzerland) are currently the two cities with the most expensive cost of living in the world.

Among the 10 most expensive cities in the world are Geneva (Switzerland), New York (USA), Hong Kong (China), Los Angeles (USA), Paris (France), Copenhagen (Denmark), Tel Aviv (Israel), San Francisco (USA).

Singapore has been at the top of the list for the past seven years due to rising prices. The city has the highest transport costs in the world due to strict government controls on the number of cars. Singapore is also one of the most expensive places for clothing, groceries and alcohol.

Meanwhile, Zurich’s position in the rankings reflects the strength of the Swiss franc as well as the high prices of goods, household goods and entertainment. Last year, Zurich ranked sixth.

By region, Asia continues to have lower average cost of living growth than other regions.

Four Chinese cities, including Nanjing, Wuxi, Dalian and Beijing, along with Japan's Osaka and Tokyo, were the cities that fell the most in the rankings.

According to a survey by the Economist , the average price of more than 200 popular global goods and services rose 7.4% year-on-year in local currency terms across 173 major cities around the world in the first quarter of 2020. This is down from the previous year’s record 8.1% increase but still higher than the 2017-2021 period.

Source: https://dantri.com.vn/the-gioi/singapore-zurich-dat-do-nhat-the-gioi-20231130152341284.htm