The cost of living in Singapore and Zurich ranked at the top amongst major cities worldwide, according to a report by the Economist Intelligence Unit.
For the ninth time in 11 years, Singapore ranked as the most expensive city in the world, tying Switzerland’s Zurich, according to the Worldwide Cost of Living survey by the Economist Intelligence Unit (EIU). Transport and clothing were particularly pricey for the former city while a stronger Swiss franc, groceries, household goods and recreation costs were highlighted as drivers for the latter city.
New York and Geneva tied for third place in 2023, followed by Hong Kong in fifth place. Overall, global prices rose by 7.4 percent in local currency terms, down from 8.1 percent in the previous year.
EIU’s survey was conducted between August 14 and September 11 this year, based on prices in 173 major cities.