The Economist Intelligence Unit, the research and analysis division, ranked the world’s priciest cities. Of the 10 most expensive cities, five are in Asia. Singapore came out at No. 1, followed by Hong Kong. The third-most expensive city is Zurich in Switzerland which is the city with the highest cost of living in Europe. Tokyo and Osaka, both in Japan, are fourth and fifth, followed by Seoul in South Korea. Geneva in Switzerland, and Paris tied for 7th, and New York and Copenhagen tied at No. 9.
Almaty in Kazakhstan was the least expensive, followed by Lagos in recession hit Nigeria.
Only one U.S. city, New York, made the top 10 in the Economist Intelligence Unit’s twice-yearly “Worldwide Cost of Living” survey. It came in ninth, dropping two places on a slightly weaker dollar but still far higher than its No. 46 slot just five years ago.
Los Angeles, in 11th place, just missed the top tier.
The study bases its calculation on the price of at least 160 products and services including food, drink, clothing, household supplies and personal care items among others, converted to U.S. dollars.
So a one-kilo loaf of bread costs $3.55 U.S. in Singapore and a bottle of table wine $23.68. In Paris, they were $6.81 and $10.35, respectively.
In Almaty, it was 90 cents for the bread and $5.15 for the wine.
“Cheap but not always cheerful,” the survey said of some of least expensive cities, which also included Bangalore in India, Karachi in Pakistan, and Algeria’s Algiers.
Notably absent from the list of most expensive