Top 20 Most Expensive Cities in the World 2023: Full List
New York has replaced Hong Kong, as the most expensive city in the world. As per ECA International’s Cost of Living Rankings for 2023, the high inflation and increasing cost of accommodation in such cities make them the world’s most expensive to live. Â
Geneva, Switzerland, London and Singapore ranked third, fourth and fifth respectively in the list.
As per the reports, prices driven by President Recep Tayyip Erdogan’s economic policies, the biggest riser was Istanbul, which move up 95 spots to 108th place, and that is thanks to an 80% surge in prices. Let’s find out what are the other most expensive cities.
Also Read: Top 20 Most Polluted Cities in the World: List by Ranking
List of Top 20 Most Expensive Cities in The World:
1. New York, US (2022 ranking: 2)
2. Hong Kong, China (1)
3. Geneva, Switzerland (3)
4. London, UK (4)
5. Singapore (13)
6. Zurich, Switzerland (7)
7. San Francisco, US (11)
8. Tel Aviv, Israel (6)
9. Seoul, South Korea (10)
10. Tokyo, Japan (5)
11. Bern, Switzerland (16)
12. Dubai, UAE (23)
13. Shanghai, China (8)
14. Guangzhou, China (9)
15. Los Angeles, US (21)
16. Shenzhen, China (12)
17. Beijing, China (14)
18. Copenhagen, Denmark (18)
19. Abu Dhabi, UAE (22)
20. Chicago, US (25)
As per the reports, the living cost rose in Southeast Asian financial hubs mainly due to increases in accommodation costs.
Increased demand for rental homes, partially driven by the earlier relaxation of Covid-19 restrictions compared to other key locations in the region, was not matched by corresponding increases in the supply of accommodation.
