These are the world’s most expensive cities
Graphic detail page.THE GLOBAL cost-of-living crisis that began in 2022 is now so much part of daily life that it is entering the vernacular. “Cozzie livs", British slang for the crisis, was recently named Australia’s word of the year by the Macquarie Dictionary. The latest Worldwide Cost of Living survey by EIU, our sister company, confirms that inflation remains high worldwide: the prices of 200 products and services that it tracks rose by an average of 7.4% over the past year.
This is down slightly from 8.1% in 2022, but remains well above the average of 2.9% over the previous five years. Our map and chart below reveal which cities are the most expensive.Tied in first place this year were Singapore and Zurich. Singapore is no stranger to the top spot: it has ranked as the priciest place to live in nine of the past 11 years.
Groceries, alcohol and clothing in the international business hub can cost a small fortune. The cost of a certificate needed to own a car (which the government wants to discourage) recently topped $106,000. Zurich, meanwhile, jumped five places from last year.
Switzerland’s largest city is perennially pricey; it came joint first in 2020 and rarely leaves the top ten. Its rise to the top of the index is mostly because the Swiss franc has appreciated by more than 10% against the dollar over the past year. (The survey’s benchmark city is New York, so if a country’s currency strengthens its cities will generally move up the ranking.)Western European cities, including Copenhagen, Dublin and Vienna, take around half of the top 20 spots.
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