This was published 5 years ago
Revealed: The world's most expensive (and the cheapest) cities for 2019
By Gavin Haines
Marina Bay Sands Hotel in Singapore.Credit: Shutterstock
They may be markedly different destinations, but Singapore, Paris and Hong Kong have one thing in common: they are officially the world's most expensive cities.
At least that's according to the Economist Intelligence Unit's (EIU) latest Worldwide Cost of Living Survey, an annual index that compares the cost of goods and services – including food, transport and rent – in 133 cities around the world.
It is the first time in the index's history that three cities have shared the top spot. The survey's editor, Roxana Slavcheva, claimed converging prices were "a testament to globalisation and the similarity of tastes and shopping patterns" in those destinations.
Hong Kong: Ties first place with Paris and Singapore as the world's most expensive city.Credit: Shutterstock
No Australian cities featured in the top ten, with Sydney dropping six places to 16th position in the survey. Melbourne fell eight spots to 22nd, Brisbane was 41st (-15), Adelaide (51st, -21) and Perth (64th, -18). The latter two cities were among the biggest movers down the ranking in the past 12 months.
Despite its steep rents and notoriously high cost of living, London didn't feature in the top 20, sitting down in 22nd place, behind Dublin (19), but way ahead of the UK's second costliest city, Manchester (51).
At the opposite end of the table, a combination of high inflation, currency depreciation and political instability have conspired to make Caracus, Damascus and Tashkent the world's cheapest cities, according to the EIU. Bargain hunters beware, though; the FCO advises against all but essential travel to Venezuela's capital, and all travel to Syria.
The survey highlighted some interesting trends, chiefly falling prices in Istanbul, Buenos Aires and São Paulo, which, to the delight of thrifty travellers, slid through the table.
By contrast, the likes of Sofia, Casablanca and Muscat climbed the rankings, having become just that little bit less affordable for travellers.
Singapore, which famously hosted last year's summit between Donald Trump and Kim Jong-un, is the only city in the top ten to retain its ranking.
However, despite being perennially one of the world's most expensive destinations, there are still bargains to be had in the sultry city state, including, incredibly, Michelin-starred meals for just $5.
Where are all the Swiss cities?
It may come as a surprise to see not a single Swiss city in the EIU top 10. According to Numbeo's 2019 Cost of Living Index, which takes into account the price of around 50 items, including a wide variety of accommodation, food and drink from both supermarkets and restaurants, clothing, taxi fares, leisure activities, utility, internet and mobile phone bills, the top six slots are all taken by Swiss settlements. They are - in order - Basel, Zurich, Lausanne, Bern, Geneva and Lugano.
Bottom of the Numbeo list is Rawalpindi, followed by a clutch of Indian cities: Thiruvananthapuram, Vijayawada, Visakhapatnam and Kochi. Pristina is deemed to be the cheapest city in Europe.
The most expensive cities in the world
1. Singapore, Singapore
1. Paris, France
1. Hong Kong, China
4. Zurich, Switzerland
5. Geneva, Switzerland
5. Osaka, Japan
7. Seoul, South Korea
7. Copenhagen, Denmark
7. New York, US
10. Tel Aviv, Israel
10. Los Angeles, US
The cheapest cities in the world
1. Caracus, Venezuela
2. Damascus, Syria
3. Tashkent, Uzbekistan
4. Almaty, Kazakhstan
5. Bangalore, India
6. Karachi, Pakistan
6. Lagos, Nigeria
8. Buenos Aires, Argentina
8. Chennai, India
10. New Delhi, India
The Telegraph, London
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