Singapore, Hong Kong, and Paris shared the top spot for the most expensive cities in the world as per the annual Economist Intelligence Unit (EIU) survey 2019. It was for the first time ever that three cities shared this title. Zurich in Switzerland came fourth, and Geneva in Switzerland and Osaka in Japan were tied at the fifth spot.
New York and Los Angeles were the only two cities from the United States in the list – they were at seventh and tenth position respectively. Copenhagen from Denmark and the South Korean capital of Seoul tied with New York at the seventh position. Tel Aviv, the capital of Israel, was tied with Los Angeles at number 10.
Meanwhile, Caracas in Venezuela was ranked the least expensive city. The capital city of Syria, Damascus was ranked the second least expensive city.
How is the Benchmarking Done?
To create this list, EIU compares the prices of 160 products and services in various cities. These could range from the price of common goods such as bread to services such as a haircut. These are then benchmarked against New York, which has a base index of 100.
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Here is the List of most Epensive Cities:
1. Singapore (Singapore)
1. Paris (France)
1. Hong Kong (China)
4. Zurich (Switzerland)
5. Geneva (Switzerland)
5. Osaka (Japan)
7. Seoul (South Korea)
7. Copenhagen (Denmark)
7. New York (United States)
10. Tel Aviv (Israel)
10. Los Angeles (United States)
Here is the List of Least Expensive Cties:
1. Caracas (Venezuela)
2. Damascus (Syria)
3. Tashkent (Uzbekistan)
4. Almaty (Kazakhstan)
5. Bangalore (India)
6. Karachi (Pakistan)
6. Lagos (Nigeria)
8. Buenos Aires (Argentina)
8. Chennai (India)
10. New Delhi (India)
To read more about the report, click here.
