Paris, Singapore, Hong Kong are the costliest ones.
Move
over Singapore — the world's most expensive city has two new
rivals.
After
topping the Economist Intelligence Unit's Worldwide Cost
of Living Survey for five years, Asia's Lion City has been joined
by Paris and Hong Kong in a tie at the top of the table.
Zurich
and Geneva rounded out the top five, while New York and Los Angeles
reclaimed spots in the top 10 — ranking in seventh and 10th
respectively — after slipping to 13th and 14th last year thanks to
a weakening dollar.
The
survey is designed to help companies calculate cost-of-living
allowances and build compensation packages for expatriates and
business travelers.
The
trio of cities sharing the top spot are 7 per cent more expensive to
live in than New York, according to the EIU, which compiles its list
from a survey of 160 products and services across 93 countries.
The
Japanese port city of Osaka was another re-entry, moving up six spots
to number five. Seoul (joint seventh place), Copenhagen (also
seventh) and Tel Aviv (10th) round out the top 10 — which actually
consists of 11 cities thanks to tied places.
"Weaker
local currencies have pushed all five Australian and two New Zealand
cities surveyed down in the ranking," the EIU said, accounting
for Sydney's absence after it scraped into 10th position in last
year's report.
Outside
the top 10, the EIU said the cost of living in Chinese cities remains
relatively stable, while Southeast Asian destinations were moving up
the ranks.
One
of the factors behind Asia's strong showing at the top of the table
is that some Asian cities are among the world's priciest locations
for general grocery shopping, according to the EIU.
But
while parts of Asia remain the most expensive places on Earth, the
continent also makes several appearances at the bottom of the list.
"Within
Asia, the best value for money has traditionally been offered by
South Asian cities, particularly those in India and Pakistan,"
the EIU said. "To an extent this remains true, and Bengaluru,
Chennai,
New Delhi and Karachi feature among the 10 cheapest locations
surveyed."
No comments:
Post a Comment