World's 10 most expensive cities

2014-03-04 12:30
Cape Town – Thinking of satisfying your wanderlust by taking a sabbatical in another world city? Well, if you don’t have loads of cash to spend, there are 10 cities we suggest you avoid.

CNN Travel reports that the results of the Economist Intelligence Unit's (EIU) latest Worldwide Cost of Living survey have been released, with Singapore topping the list.

The bi-annual report ranks 131 cities and by comparing the prices across 160 products and services, including food, drink, rentals, utility bills, schooling costs and household supplies. The report states that Singapore’s rise to the top of the list has been steady, rather than spectacular.

The city-state was 18th most expensive ten years ago and has actually seen the cost of living compared with New York City decline over the last 12 months. However, over the last decade a 40% currency appreciation, coupled with solid price inflation, has consistently pushed Singapore up the ranking.

It jumped five places from No 6 last year, unseating Tokyo and sending the Japanese capital to a joint 6th position with three other cities on the list this year.

So, without any further ado, here are the 10 cities to avoid living in if you’re forever on a shoestring:

1. Singapore
2. Paris, France
3. Oslo, Norway
4. Zurich, Switzerland
5. Sydney, Australia
6. Caracas (Venezuela), Geneva (Switzerland), Melbourne (Australia), Tokyo (Japan)
10. Copenhagen, Denmark  

Okay, so where can you go then? Good question! You may want to consider relocating to the EIU’s 10 least expensive cities:

122. Riyadh, Saudi Arabia
123. Jeddah, Saudi Arabia
124. Panama City, Panama
124. Bucharest, Romania
126. Algiers, Algeria
127. Damascus, Syria
127. Kathmandu, Nepal
129. New Delhi, India
130. Karachi, Pakistan
131. Mumbai, India

But would you? As the report points out, outside India bargain hunters may be put off by the security risk in many of the countries in which the  world’s cheapest cities are found. Pakistan, Nepal, Syria and Algeria all feature in the bottom ten, but  have had well documented security issues or domestic unrest.

Which world city do you dream of living in and why? Tell us in the comment section below, chat to us on Facebook or tweet us at @news24travel
Read more on:    travel  |  travel international

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