Top 10 Most Expensive Cities of the World (with photos)

Top 10 Most Expensive Cities of the World (with photos)

The results of Worldwide Cost of Living Survey are out and the thing that might surprise you is that there is no American city in the top 10 list.

The Economist Intelligence Unit (EIU) generates an annual report by comparing the prices of more than 150 services and products. 133 major cities around the world are included in this survey. On the basis of the data gathered, the cost of living and traveling to these places is calculated. Following are the 10 most expensive cities in the world.

         Singapore

Singapore is the most expensive city in the world for 5 consecutive years now. It is a global hub for commerce, transport, and finance and there are certain reasons behind that. It is the 3rd most competitive city having the best investment potential. It also has the 2nd busiest container port in the world. A lot of international meetings are held in this part of the world which earned it the status of the top International-meetings city.

        Paris

Paris solely generates 31% of France’s GDP as it has been a massive center of commerce and finance for centuries. The most popular features of this city are architectural landmarks and museums. The Louvre was declared as the most visited museum of the world in 2016 as 7.4 million visitors were recorded. Huge sporting events like French Open at Roland Garros and Tour de France add a lot of value to this amazing city.

        Zurich

Switzerland is considered a heaven on Earth due to its utmost beauty. Despite having just 400,000 inhabitants, it is one of the top financial centers of the world. It homes several banks and financial institutions. A lot of international companies have placed their headquarters in Zurich as the tax rates are incredibly low. It offers the best quality of life as its GDP per capita matches with any other city of Europe.

      Hong Kong

The worth of Hong Kong can simply be judged by the fact that its currency, Hong Kong Dollar, is the 13th most traded currency of the world. It is ranked 7th in the list of largest trade centers of the world. The standards of public transportation are so high that 90% of its population uses it. The 35th-largest economy of the world will facilitate you in every manner but comforts do come at incredible rates in this region.

       Oslo

It is considered the economic center of Norway as most of the Norwegian banking, shipping, industrial, and trade activities are carried out here. It controls the maritime sector of Europe as the largest shipping companies of the world reside in this part of the world. Nearly 6,000 ships dock at the Port of Oslo every year. It is also regarded as the friendliest city for business after Amsterdam.

        Geneva

A lot of international organizations are situated in this city of Switzerland which makes it the worldwide center of diplomacy. It is the 5th most competitive financial center in Europe and has a profound economic system which revolves mainly around services. The economic stability and international meetings lead to highest standards of living but at a price.

        Seoul

This rising global city has a GDP per capita of $39,786. This clearly indicates the economic growth of this city. Headquarters of 15 companies featuring in the Fortune Global 500 are located here. One of the top smartphone companies, Samsung, also operates from the capital of South Korea.

        Copenhagen

Shipping is an important sector when it comes to revenue generation for this Danish city. The world’s largest shipping company, Maersk, has established their headquarters here and use the Copenhagen Port for their operations. It offers some of the highest gross wages but the cost of living here is ranked 8th-highest in the world.

         Tel Aviv

The second most populous city of Israel receives 2.5 million visitors every year despite being the 9th most expensive city in the world. Farming is not possible here as the city is built on sand dunes. Hence, the flourishing technological center paid all their attention towards scientific research and this enabled them to achieve supremacy in the high-tech industry.

         Sydney

The most populous city in Australia offers brilliant opportunities for economic expansion in the fields of manufacturing, tourism, and finance. It is ranked 11th in the world for economic opportunity. The presence of multinational companies and foreign banks make it one of the top financial hubs of the Asia Pacific.

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Muneeb ud Deen
A sports fanatic who loves to read.
"Honesty and self-satisfaction have been my weapons throughout my writing career of 3 years."

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