Singapore ‘world’s most expensive city’ for fifth year in a row, survey says
Lion city lingers at the top, while Hong Kong came in fourth in survey that rates cities on the cost of daily necessities
Singapore remains the world’s most expensive city for the fifth consecutive year, with Paris, Zurich and Hong Kong following closely behind, according to the Worldwide Cost of Living Survey published on Thursday.
Low inflation meant Tokyo – the most expensive city until 2013 – dropped out of the top 10 in The Economist Intelligence Unit’s biannual study of 133 cities.
Meanwhile, euro strength and a weaker pound saw the Irish capital Dublin overtake London, which is now ranked 30th, said the report’s author Roxana Slavcheva.
“A strong euro has driven up the relative cost of living in not just Dublin, but all euro zone cities included in the survey,” she said. “This has resulted in a move up the rankings for Dublin of six spots (to 19) since last year’s ranking, even as consumer price inflation in Ireland remains low.”
