The Economist Intelligence Unit has released its Worldwide Cost of Living Report 2016, ranking the world’s most expensive cities.
The report is based on the comparison of 400 individual prices across 160 products and services in countries across the world. This means that the prices of more than 50 000 items were compared.
Products and services analysed include necessities like food and drink, as well as costs such as rent, transport and private schools.
Singapore held its title as the world’s most expensive city for the third year in a row.
Hong Kong and Zurich tied for second place – however it was Hong Kong which made an astonishing climb in the rankings. Hong Kong has climbed seven places in the rankings in the past 12 months.
Other high-cost cities include Paris, Seoul and New York.
The ten most expensive cities in the world are:
1. Singapore, Singapore
2. Zurich, Switzerland; Hong Kong, China (tied)
4. Geneva, Switzerland
5. Paris, France
6. London, United Kingdom
7. New York, United States
8. Copenhagen, Denmark
9. Seoul, South Korea
10. Los Angeles, United States
