Have you ever glanced at your electricity bill and recoiled at the cost? Well, spare a thought for those unfortunate people who reside in the most pricey cities in the world. The most expensive cities in the world don’t exactly sound like places to go on vacation with their sky-high rents, pricey cocktails, and exorbitant transportation costs, but you might be surprised to hear which locations make the list. Contrary to what the majority of Sydneysiders will claim, shock horror, it’s not Sydney.
How the World’s Costliest Cities Are Determined
The World’s Most Expensive Cities, compiled by global mobility specialist ECA International, examines the capitals that drive the world economy yet are notoriously cash-strapped. The average cost of basic necessities like milk and cooking oil, as well as the cost of rent, utilities, public transportation, and the strength of the local currency, were among the primary metrics used to rank each city. Although the ECA International is one business that ranks the most expensive cities in the world, the index focuses particularly on expats and foreign employees when making its rankings.
In general, the most costly continent to reside in is Asia, followed by Europe and North America, depending on which list you choose. Nevertheless, due to outside causes like politics and world conflicts—which can be attributed to Russia’s invasion of Ukraine—presence Europe’s has dramatically decreased over the past year.
Put the dull stuff away and be ready to be motivated. Whether New York, Geneva, or Tokyo are on your travel bucket list, you might want to start saving now. Starting a new life in one of the most expensive cities in the world could be, well, pricey. According to the ECA International rating, these are the top 10 most expensive cities to live in.
1. Hong Kong
It’s no surprise that the bustling city of Hong Kong tops the list of the top ten most expensive locations to live in Asia. With thousands of expats drawn to the city, Hong Kong, a portion of China, is known for attracting some of the world’s most rich and successful businessmen. According to the ECA research, Hong Kong has reclaimed the title of world’s most expensive city.
Calling prefix: +852
1,114 km2 in size
Population: 7,482,000,000 (2020) World Bank
Currency: Hong Kong dollar
Location: Asia
2. New York, USA
The list continues with New York, the concrete jungle of the United States.The only North American city to make the top 10, New York is the land of opportunities, attracting swarms of individuals from the United States and the rest of the world, all competing to establish a name for themselves in the city. Because everybody wants a piece of the Big Apple, it’s not surprising that living in New York City is so expensive.
Area of land: 783.8 km2.
Built: 1624
10 m above sea level
8.38 million people (2020)
3. Switzerland’s Geneva
The best entry from Europe is Geneva in Switzerland, which has long been regarded as the pinnacle of style and luxury. Geneva is renowned for facilitating the most opulent of lifestyles with the best dining establishments, a vibrant social scene, and cutting-edge homes. You won’t wonder why it’s one of the priciest towns to live in after strolling around one of their immaculate streets and visiting a neighbourhood grocery shop.
Height: 375 m
Population: 198,979
Area: 15.93 km2 (2017)
Geneva is where the UN is located.
4. British city of London
London, the “city of dreams,” has established itself as the fourth most expensive city in the world. Like New York, London sees a large influx of visitors from around the globe who are eager to start a career, find fame, or simply live the life that Londoners make out to be so damn good.In London, where the cost of rent and public transportation is among the highest in the world, you’ll need a lot of cash to build a comfortable life for yourself.
Height: 11 m Area: 1,572 km2
8.982 million people (2019) Eurostat
5. Japan’s Tokyo
Another city that has contributed to Asia surpassing Europe as the continent with the highest number of expensive cities is Tokyo, the capital of Japan. It is not surprising that prices are highest in Tokyo given that it is the nation’s capital and Japan is known for having extraordinarily high living expenses.Rent costs make up the largest portion of expenses, followed closely by car ownership and transportation costs. Those slick, quick bullet trains aren’t free!
2,194 km2 in size;
40 m in elevation
Number of people: 13.96 million (2021)
Administrator: Yuriko Koike
Shinjuku City is the capital.
6.Israel’s Tel Aviv
Tel Aviv has the highest cost of living in the entire Middle East. A centre for all things luxurious and regal, Tel Aviv is the only city in the Middle East to be listed among the top 10 most expensive cities in the world. This raises the cost of living in the city, but it can also be largely attributed to the strengthening of the shekel, Israel’s currency.
52 km2 in size; 113 years old
435,855 people (2016) Ron Huldai, Mayor of the United Nations
created in 1909
3,854,000 people live in the metro.
7. Switzerland’s Zurich
Since Switzerland is a wealthy country, it should come as no surprise that not one, but TWO of its towns rank among the 10 most expensive locations to live. In addition to drawing some of the most famous and wealthy people in the world simply because of the city’s upscale atmosphere, the city has some of the highest incomes in the world, which may be related to all those big banks that have their headquarters there.
Height: 408 m
Amount: 87.88 km2 Number of people: 402,762 (2017) World Organization
Zurich, canton
8.China’s Shanghai
In addition to being one of the most expensive cities in the world, Shanghai, China, is also one of the most inhabited. The Chinese yuan’s continued strength versus other major currencies and the country’s higher-than-expected rates of inflation are two variables that contribute to the city’s high cost of living.
Region: 6,340 km2
created: 1291
Height: 4 m
Number of people: 26.32 million
9. China’s Guangzhou
Another city in mainland China, Guangzhou, is quickly becoming known as one of the most expensive cities to live in. In that it has many of the same qualities that make Shanghai such an expensive city to live in, the city is analogous to Shanghai.
7,434 km2 in size,
At a height of 21 m
Number of people: 15.31 million (31 Dec 2019)
Guangdong Province has a population of 65,594,622 people.
10. Korea’s Seoul
South Korea’s capital, Seoul, narrowly manages to land in place 10. The high cost of living in the city and the sizeable security deposits that people must pay are a big part of the reason why. Additionally, since the second half of the 20th century, it has to do with how.
Size: 605.2 km2;
Height: 38 m
Population: 9,776,000,000 (2017) World Organization
Built: 1394
