From surveys of grocery costs and transport expenses to recreation and buying cars and homes in 173 countries, the Economist Intelligence Unit's Worldwide Cost of Living 2023 report revealed the most expensive cities to live in right now.
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#10: At tenth place is sunny San Francisco, California which is the base of many global tech firms. Despite the city's offices being vacant by more than 20 per cent owing to layoffs in the tech sector, the city continues to be an expensive on to live in.
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#8: Copenhagen, Denmark is on position 8, shared with Tel Aviv. The standard of living in Denmark is considered one of the best in Europe, but the living costs are also high.
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#7: Paris in France is also among the most expensive cities to live in. Data shows that housing is one of the most high-ticket items people end up paying for.
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#6: Home to stars and millionaires alike, it is hardly surprising that Los Angeles is on the list.
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#5: Hong Kong which usually places higher on similar rankings fell in 2022 as accommodation costs continued to fall and price rates increased faster in other cities.
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#3: New York and Geneva were tied in third position. Overall, global prices rose an average 7.4 per cent year-on-year in local currency terms.
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#1: Zurich and Singapore shared the top ranking of the world's most expensive cities to live in. Zurich jumped from sixth place last year to joint first, thanks in part to the strong Swiss franc, as well as expensive groceries, household goods and recreation.
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#1: Singapore retained its position as most expensive city in the world. The city state has the world's highest transport prices, owing to strict government controls on car numbers. It is also amongst the most expensive for clothing and groceries.
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