The Economist Intelligence Unit (EIU) has released its latest report on the cost of living worldwide. The EIU survey measured the cost of living after comparing 400 independent prices of 160 products and services that range from food products, to private schooling.
Singapore, for the 4th consecutive year was ranked as the most expensive city in the world, followed by Hong Kong, China with Zurich, Switzerland in third place. South African city Johannesburg has been ranked as the 116th most expensive city to live in while Pretoria made it on to the list as the 123rd most expensive.
The report showed that these local cities are about half as expensive as New York, USA, which ranked at number 9 alongside, Copenhagen, Denmark.
In the 4th quarter of 2016, the Numbeo Cost of Living Index and the Expatistan Cost of Living Index, indicated that Tshwane had surpassed the city of Cape Town as the end most expensive city in South Africa, both of which did not appear on the EIU report.
The are the world’s top 10 most expensive cities:
- Singapore, Singapore
- Hong Kong, China
- Zurich, Switzerland
- Tokyo, Japan
- Osaka, Japan
- Seoul, South Korea
- Geneva, Switzerland
- Paris, France
- New York, USA and Copenhagen, Denmark