- Singapore reigns as the world’s most expensive city for the fifth year in a row, based on a report by The Economist Intelligence Unit.
- This year, Paris and Hong Kong join Singapore for a three-way tie in the top spot.
- Asia remains the continent with the most expensive cities, closely followed by Europe.
- Since last year, two United States cities have rejoined the list: New York and Los Angeles.
Asian and European cities led the list of most expensive cities around the globe in 2019.
That’s according to the Economist Intelligence Unit’s annual Worldwide Cost of Living report, which highlights the top 10 most expensive cities around the globe. The report uses more than 400 prices across 160 different products and services – including food, drink, clothing, and home rents – to calculate rankings.
Singapore has consistently held its No. 1 ranking since 2014, when it surpassed Tokyo, which had previously occupied the top spot nearly every year since 1992.
While Singapore still holds its title, it now shares first place with two other major cities: Paris and Hong Kong. Paris moved up from its No. 2 seat last year, while Hong Kong moved up from No. 4.
This year also marks the return of two major American cities: New York and Los Angeles. In past reports, American cities have appeared in the top 10, but last year, New York City and Los Angeles topped out at No. 13 and No. 14 respectively. According to the report, this was due, in part, to a weakening dollar when compared to other currencies.
Below, you'll find the 10 most expensive cities ranked from least to most expensive, along with their comparison ranking from last year.
10. Los Angeles, California
2019 city ranking by cost of living: 10
2018 city ranking by cost of living: 14
10. Tel Aviv, Israel
2019 city ranking by cost of living: 10 (tied with Los Angeles)
2018 city ranking by cost of living: 9
7. New York, USA
2019 city ranking by cost of living: 7 (tied with Copenhagen and Seoul)
2018 city ranking by cost of living: 13
7. Copenhagen, Denmark
2019 city ranking by cost of living: 7 (tied with New York and Seoul)
2018 city ranking by cost of living: 8
7. Seoul, South Korea
2019 city ranking by cost of living: 7 (tied with New York and Copenhagen)
2018 city ranking by cost of living: 6
5. Osaka, Japan
2019 city ranking by cost of living: 5 (tied with Geneva)
2018 city ranking by cost of living: 11
5. Geneva, Switzerland
2019 city ranking by cost of living: 5 (tied with Osaka)
2018 city ranking by cost of living: 6
4. Zurich, Switzerland
2019 city ranking by cost of living: 4
2018 city ranking by cost of living: 2
1. Hong Kong, China
2019 city ranking by cost of living: 1 (tied with Singapore and Paris)
2018 city ranking by cost of living: 4
1. Paris, France
2019 city ranking by cost of living: 1 (tied with Singapore and Hong Kong)
2018 city ranking by cost of living: 2
1. Singapore, Singapore
2019 city ranking by cost of living: 1 (tied with Paris and Hong Kong)
2018 city ranking by cost of living: 1
