-Most Expensive Cities in The World-
Living in cities has many advantages, such as job opportunities, good food, theater, and easy access to world-class museums, but it comes at a cost. Rent is typically high in the world’s largest and best cities. In this article, we’ll be showing you the most expensive cities in the world.
Most Expensive Cities To Live In
Living in a big city can be expensive — literally. The world’s most popular destinations are coveted for a reason, so living in one will cost you more.
Mercer conducted a cost-of-living study in 2021 that compared the prices of housing, transportation, food, clothing, and other items to determine the most expensive cities to live in.
Learn about all the places that made the list (including some you’ve probably never heard of!) and what makes them so expensive.
1. Tel Aviv
This is no doubt the most expensive city In the world. This sun-drenched city on Israel’s Mediterranean coast topped the EIU’s ranking for the first time, rising from fifth place in 2020.
The city received a cost-of-living score of 106, owing largely to the strength of the Israeli shekel relative to the US dollar. It also saw an increase in grocery and transportation prices in 2021.
The 2021 study compared the cost of living in 173 cities and discovered that supply chain issues had caused a rapid increase in prices. Measures put in place to combat the COVID-19 pandemic continued to impact production and trade.
Aside from the Eiffel Tower, the Louvre, and the gleaming Champs-Élysées, France’s iconic capital is also the world’s second most expensive city, with a cost-of-living index of 104.
Paris topped the list last year. It’s “only” in second place this year. The French capital has long been one of the most expensive cities in the world, but that hasn’t kept tourists away.
One highlight for many is the Moulin Rouge in the Montmartre district.
Singapore is also among the most expensive cities in the world. The island city-state, is right up there with Paris this year. Aside from its wealth, the Southeast Asia financial center is also known for its harsh laws.
For example, secretly using someone else’s unsecured wireless network is strictly prohibited; anyone caught doing so faces a fine of €10,000 (approximately $11,300).
Singapore has long been lauded for its immaculately clean streets and buildings, but living in what is likely the world’s cleanest city comes at a cost.
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It’s not surprising that the world’s banking and finance capital is also one of the most expensive cities on the planet. With a mountain-bound location on Lake Zurich, the city is as beautiful as it is expensive, with a cost-of-living rating of 103.
Even though living costs in Switzerland are high, they are especially so in Zurich. Rents have skyrocketed in recent years, owing in part to immigration, and there are few available apartments.
The average rent is €400 ($450) per square meter, according to official statistics.
5. Hong Kong
Although Hong Kong is a Chinese “special administrative region,” they ranked the city alongside the world’s largest (and most expensive) metropolises.
Besides other factors, Hong Kong had the most expensive gas prices in the world in 2021, with an average cost of $2.50 per liter. As a result, they rated the cost of living in 2021 101.
Hong Kong, a former British colony that is now one of China’s special administrative zones, is also high on the list because of its exorbitant rents.
6. New York
New York is not only the most expensive city in the United States but also the sixth most expensive city in the world. It’s uncommon to find New Yorkers who were born in the city.
Even well-paid financial analysts are having difficulty finding an affordable apartment in Manhattan these days. They value the most expensive in the tens of millions of dollars.
As the survey’s reference point, New York City received a score of 100 and a ranking of sixth. The city has long been on the list because of the high cost of everything from groceries to gas.
Geneva is the second Swiss city to make the top ten list. The pricey metro, with a cost of living rating of 99 in 2021, is near the French-Swiss border on the vast Lake Geneva.
The city is a banking center and the headquarters of Europe’s United Nations and the Red Cross.
A standard club sandwich is said to cost more in Geneva than anywhere else in the world. But what does that say about a country’s overall cost of living? A great deal.
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Copenhagen is likewise among the most expensive cities in the world. Life in Denmark’s capital is also not inexpensive. Food, alcohol, and consumer goods are 40% more expensive here than in the rest of the EU.
But that doesn’t stop people, particularly young students, from wanting to live there. It’s also conveniently located for residents who want to explore the rest of Scandinavia or the European mainland, which can be reached by ferry.
On the 2021 cost-of-living report, this northern, water-bound city received a score of 97. While the cost of food and housing in Copenhagen is high, they filled the city with citizens who prefer to ride their bikes rather than drive.
9. Los Angeles
The Angels’ City. Hollywood is the home of the stars. Few places evoke luxury and wealth like this megacity in the United States state of California.
This multibillion-dollar entertainment hub attracts aspiring actors and filmmakers, as well as creative want tobes from all over the world.
Although the cost of living in this sprawling Southern California city is high, there is no better place to be for many beach lovers and aspiring actors. Los Angeles ranked ninth, with a score of 96, just four points lower than New York City.
You might think that Tokyo would be more expensive than Osaka in terms of cost of living, but according to the numbers, this Japanese city, which has a cost-of-living rating of 94, is a little more expensive than the country’s capital.
Many goods and services are expensive in Osaka, but budget-conscious visitors can still enjoy the city’s famous and reasonably priced street food.
Osaka, with its millions of residents, is one of Japan’s two major financial centers, along with Tokyo. Visitors should budget generously, especially for lodging. Rent per square meter is significantly higher than in the rest of the country, and it is not cheap.
11 Beirut, Lebanon
Beirut rose 42 spots in a year to become the third most expensive city on the list. Why the sudden shift? Beirut has been in the grip of a severe economic crisis for some time.
Unfortunately, the region, like many others around the world, was exacerbated by the COVID-19 pandemic.
12. Dublin, Ireland
Dublin is without a doubt one of Europe’s most picturesque cities, with its expansive bodies of water — such as the River Liffey, seen here — and lush green mountains.
However, as tech giants such as Google and Amazon set up shop here, it has resulted in extremely high housing prices.
13. Vienna, Austria
The historical buildings of Vienna provide a backdrop for Austria’s most populous city. With so many people, however, comes a competitive housing market.
In 2021, the average home price in Vienna increased by more than 10% over the previous year.
14. Milan, Italy
As one of the world’s fashion capitals, it’s no surprise that Milan is Italy’s most expensive city. According to a recent study, groceries alone cost 47 percent more in the area than in Naples.
Milan is also the country’s business hub, attracting tycoons and celebrities from virtually every industry.
15. Bangui, Central African Republic
Bangui is a major commercial center for Central Africa, thanks to its river port and connections to other countries.
While housing prices are average in this area, other costs such as internet access, mobile phones, furniture, and kitchen appliances are higher, increasing the cost of living.
16. Chengdu, China
If you want to live in Chengdu, you should up your fashion game. The city places a high value on luxury items and has even opened one of Western China’s only high-end malls.
They frequently see residents wearing designer clothing, and there is a sizable secondhand market for such items.
17. Tokyo, Japan
Tokyo was looking forward to the economic benefits of hosting the postponed 2020 Olympics in the summer of 2021.
However, near the end of the event, the region was placed under emergency restrictions in order to combat COVID-19’s Delta variant, which analysts say harmed financial growth.
18. Ashgabat, Turkmenistan
We’ve arrived at the end of the list. Meet Ashgabat, Turkmenistan, the world’s most expensive city. The mountainside region, which frequently suffers from high inflation, is absolutely dripping in luxury.
With over 500 white marble buildings scattered throughout the city, it even holds the world record for the highest density of white marble buildings.
19. Qingdao, China
This coastal city’s 177 ports makes it an economic staple for all of China. It also has some of the most gorgeous beaches in Asia and draws in tourists from around the world during the annual Qingdao International Beer Festival.
20. Nouméa, New Caledonia
The capital of New Caledonia — one of the richest countries in the world, looks right out of a postcard. Because of Nouméa’s size and location, it relies on expensive imports for many ordinary items.
For a one-week trip here, prepare to shell out at least $2,000.
21. Riyadh, Saudi Arabia
Have you seen a more futuristic skyline? Saudi Arabia’s capital is booming with jobs, famous shops like the Souq Al Zal market, and business opportunities.
As of November 2021, apartment values increased 17 percent from the year prior.
22. London, England
If you ever want to open a business — or even buy your own property — in London, prepare to spend a lot. With an enormous demand and restricted supply, stores often charge more to cover their rent.
23. N’Djamena, Chad
The agriculture in N’Djamena is very important to the city (it exports livestock, salt, grains, fish, and cotton), and it also has oil and gas sectors that attract expat workers. Its high prices, however, stem from transportation costs.
These are some of the most expensive cities in the world. There are, however, some cities out there that may fit in this list, but whose names are not here.
These above-listed countries are amazing to visit, and if you have the money to travel there, don’t relent. Travel and have fun, life’s short!
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