Pretty penny: The three most expensive cities in the world

Recently numerous places have been popping up where travelers can go on ‘luxurious’ vacation for a fraction of the cost, and it’s all thanks to the Internet. Because of blogs and social media, travelling has never been more budget-friendly and democratized. With nothing as so much as the clothes on their back, they can experience everything that the city or country has to offer. Then there’s Zurich, Hong Kong, and Singapore, the three most pocket-boring cities in the world.

 

Zurich is the largest city in Switzerland. It is home to more than 3 million inhabitants and has the busiest airport and railways in the whole country. Living in the city is no joke for a single lunchtime meal which includes a drink in the business district and could reach up to US$26. Meals in fast food restaurants are significantly cheaper but still isn’t for the faint of heart for the diner will be spending 14 dollars on average.

Image source: myswitzerland.com

 

The second city on the list, Hong Kong, is an autonomous region in China. Upon examining its territorial area and the number of individuals who inhabit it, Hong Kong is one of the most densely populated cities in the world. Spending for electricity, heat, water, and garbage disposal for a month can easily reach US$200, and that’s only the tip of the iceberg.

Image source: homejamesglobal.com

 

For the fourth time in a row, Singapore is the world’s most expensive city. For a single month, rent can exceed US$1,500, and that’s not even in the high-end neighborhoods. To live there, a person needs to dish out more than US$2,500 monthly.

Image source: absoluteinternship.com

 

Apparently, the aforementioned cities are wealthy cities. They are also relatively small (making real estate prices very high) and rely heavily on imported goods such as food and even water. When cash flow is robust, chances are prices are also extremely high. That means the likes of London, New York, Dubai, Tokyo, and even Hamilton in Bermuda (a well-known offshore financial center) can also be just as expensive.  Meanwhile, the world’s cheapest cities to live in are mostly found in poorer Asian and African nations, with the top three being Bangalore (India), Lagos (Nigeria), and Almaty (Kazakhstan).

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