The Economist has revealed the top ten most expensive cities to live in and visit in the world and declared a three-way tie for first place.
When planning a trip we look for a variety of different things. How easy it is to get there. What there is to do once we’re there. Whether we have been there before. Plus, we also want to know how much it is going to cost while we’re there. We’ve probably all had people tell us how expensive or cheap a city or country is when we inform that person we are thinking of paying it a visit.
The trouble with that is people’s opinions of what is and isn’t expensive tends to differ quite a bit. That’s why The Economist‘s rundown of the world’s most expensive cities is incredibly handy. An objective look at how much it costs to visit and even live in different cities around the world rather than the subjective view of a handful of friends and family.
The Economist‘s top ten most expensive cities were revealed this week via BBC, and there is a three-way tie for first place. Last year’s chart-topper Paris, France remains in the number one spot. However, this year it has to share that rarified air with Hong Kong and Singapore. It’s the first time in the Economic Intelligence Unit Survey’s 30-year history that three different cities have tied for first place.
How are these cities assessed exactly, we hear you ask? It actually involves 160 different elements being evaluated across 133 different cities. Those elements include the price of food, transport, utility bills, and rent. It then uses New York as a benchmark, which is coincidentally one of only two US cities to make the top ten, sliding in at number seven alongside Seoul and Copenhagen. Los Angeles was the other but has been left out of the graphic above since it was joint tenth with Tel-Aviv.
Those of you who have paid a visit to any of the cities above, or live in them, will know all too well that it costs a lot of money to be there. However, from what we can see as we roll our eyes over the list, most of them are worth visiting if you can afford it. What shocks us most is that the likes of London and Tokyo didn’t make the cut. Perhaps we’ve been underestimating the value the respective capitals offer.