This world map above identifies the most expensive cities in the world to live in. The data is based on a 2020 report by the Economist Intelligence Unit. The ranking of each city on the list is determined by different factors, including a person’s income, spending habits, and cost of living. In addition, there’s also “currency, population growth, or external market movements,” according to Visual Capitalist.
With an index score of 102, three cities are tied for the distinction of the most expensive city in the world: Singapore, Hong Kong, and Osaka. The Japanese city moved 4 places up to the top of the list, while the other two cities retained their top position from the previous year’s list.
Each of the top 10 most expensive cities has an index score of at least 95, with 100 being the baseline score. The perfect 100 is achieved by New York City, USA, ranked fourth on the list.
In comparison, the city of Damascus in Syria is the lowest-ranked city on the list and is, therefore, the world’s cheapest city. This is partly due to the bad effects on Syria’s economy due to the civil war there. Most of the cities in the bottom 10 are from central and southern Asia.
Know more about how these cities are too costly to live in by browsing these books:
- Homeless: The Untold Story of a Mother’s Struggle in Crazy Rich Singapore
- Mall City: Hong Kong’s Dreamworlds of Consumption
- Osaka Modern: The City in the Japanese Imaginary
- Retire in New York City: Even if You’re Not Rich
- Paris. Portrait of a City
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