Singapore’s streak of being the world’s most expensive city continues in 2023, holding its place for the ninth time in eleven consecutive years. This year, we are tied with Zurich (Switzerland) that moved up from 6th place last year. We have also taken over New York, which has fallen to third place from the second spot last year.
We all probably felt the pinch too – as per the Worldwide Cost of Living survey conducted between August 14 and September 11, the prices of over 200 commonly used goods and services have risen by 7.4 percent globally in local-currency terms over the past year. Good news though, the rate of increase is lower than the 8.1 percent recorded in the previous year. However, it is still significantly higher than the trend between 2017 to 2021.
Across the ten categories featured in the survey’s pricing index, utility prices have shown a slower rate of increase over the past year, reflecting the impact of the 2022 Russia-Ukraine conflict. However, the increase in grocery prices remains unwavering.
In contrast to the report in 2022, the present survey includes Ukraine, coming in at 132nd place. Since the 2021 edition, Ukraine has witnessed a decline in rankings, shifting from its prior position at 118th.
Here are the top 10 most expensive cities in the world as of 2023:
- Singapore and Zurich, Switzerland
- Geneva, Switzerland and New York, US
- Hong Kong
- Los Angeles, US
- Paris France
- Copenhagen, Denmark and Tel Aviv, Israel
- San Francisco
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