Which three global cities have the highest cost of living?

Mar 20 , 2019

Singapore has been the world’s most expensive city in The Economist’s annual survey for years … but two other cities now share its title. Photo: Shutterstock

Asian and European cities lead the list of the world’s most expensive cities in which to live in 2019.

The Economist Intelligence Unit’s annual Worldwide Cost of Living report ranks the cities on the basis of more than 400 prices across 160 different products and services – including food, drink, clothing, and home rents.

Singapore has consistently maintained its No. 1 ranking since 2014, when it surpassed Tokyo, which had previously occupied the top spot nearly every year since 1992.

It’s official, Hong Kong is the most expensive city in the world to live in

While Singapore still holds its title, it now shares first place with two other major cities: Paris and Hong Kong. Paris moved up from second place last year, while Hong Kong has moved up from last year’s No. 4 ranking.

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 and Los Angeles were at No. 13 and No. 14, respectively.

According to the report, this was partly because of a weakening dollar when compared to other currencies.

Check out the 10 most expensive global cities, ranked in descending order, along with their ranking from last year.

Equal 10: Los Angeles, California