Think your city ’s expensive ? Your wallet might experience fatter after you agree out theEconomist Intelligence Unit ’s one-year list of the human beings ’s 10 dear urban areas . Each class , theWorldwide Cost of Living Surveyexamines the cost of 400 item-by-item prices across 160 items and service ( food , exile , usefulness bills , etc . ) in 133 cities worldwide . The EIU then uses these numbers to calculate which metropolis do residents and visitors back the most , financially .
For the third year in a row , Singapore was name the humans ’s most expensive urban center . While groceries are tawdry in Singapore than in other Asiatic cities like Seoul , Tokyo , and Hong Kong , CNN describe thatthe island city - state has hugely high transportation and utility costs .
According to CNN , public passage costs 2.7 times more in Singapore than it does in New York City — and it ’s not tinny to own a motorcar or motorcycle . To curb traffic , the government requires drivers to own aCertificate of Entitlement , or COE . This firearm of paper gives drivers the legal right to own , register , and operate a fomite for 10 years . Only a certain figure of COEs are released each calendar month , and residents must bid on them . If requirement is high , prices can rocket and even stand out the cost of a car .
move to Switzerland will also put a dent in your saving . Zurich tied with Hong Kong as the world ’s secondly - most expensive urban center , and Geneva came in fourth . This is probable due to the fact that Swiss currency increased in time value after the country ’s National Bank stopped pegging it to the euro , swissinfo.ch points out . Meanwhile , Hong Kong ’s high ranking might be due to the fact that the Hong Kong clam is nail down to the U.S. dollar , which has n’t fall like other up-to-dateness in the city ’s neighboring Southeast Asia , CNBC write .
Paris , London , and Copenhagen were range at No . 5 , No . 6 . , and No . 8 . However , only two American cities were listed in the EIU view ’s top 10 . New York City made the cut , jump out from No . 22 to No . 7 . , and Los Angeles tie with Copenhagen for No . 8 . , jump 19 spots from No . 27 in 2015 .
If you hold up in L.A. or New York City and do n’t imagine your price of living has increased ( despite their rise up the list ) , you ’re probably right . " New York and Los Angeles move up the ranking because of currency headwind rather than meaning local price raise , " the EIU said in the report . " In fact , the opposite may be true . With the falling cost of vegetable oil and a inviolable U.S. dollar sign pushing down prices , local inflation has been comparatively low across the U.S. "
Surprised that San Francisco is n’t in the top 10 ? The Golden Gate City derive in at No . 34 — but only because the index did n’t include the terms of shelter , TheWall Street Journalpoints out . If this menage toll were factored into the survey , the metropolis would likely rank much higher .
odd to see whether your town made the top 20 ? tick off out thefull study results .
[ h / tCNN ]
