Most Expensive City in The World
Informative

Most Expensive City in The World-Top10

The status of a person is defined by two things. Number one is the money he has and second is the city that he can afford to live in. However, it is not easy to find the most expensive city in the world when you don’t have enough money as every city looks like the most expensive city in the world to visit.

The list was released by the Economist Intelligence Unit’s 2020 Worldwide Cost of Living Survey.  Cringeshit provides you with the insight of these cities. So here is a list of the Most Expensive City in The World to visit and to live.

The cities have been ranked based on Millionaires per 100,000 people and the price to buy a square meter of the area in the city center.

Geneva-Switzerland

Geneva is at number 10 in the list of Most Expensive Cities to Live in the World. Geneva is the second-most populous city in Switzerland.

Cost of Living in Geneva:

  • A family of four would require $6064 per month to cover their expenses excluding the rent.
  • The city has 20882 millionaires per 100,000 people.
  • $13329 would be the cost of buying a square meter area in the city center.

Recognition around the world:

  • World’s  15th most important financial center by the Global Financial Centres Index.
  •  Ranked in top 10 liveable cities around the globe
  • Recognized as “Peace Capital”.
  • Ranked first by gross earning.

The official language of the city is French. The economy is geneva is mostly derived from services. The finance sector of Geneva is long-established private banking that is supposed to be managing US$1 Trillion.

Aside from all these Geneva is the home to the international headquarters os companies listed below:

  • Japan Tobacco International
  • Mediterranean Shipping Company
  • Vitol Gunvor
  • Mercuria Energy Group
  • Merck Serono
  • SITA
  • Weatherford International
  • Caterpillar
  • DuPont
  • Cargill
  •  Take-Two Interactive
  • Electronics Arts
  • INVISTA
  • Oracle Corporation

Tokyo-Japan

Tokyo the capital and most populous city of Japan is at number 9 in the list of Most Expensive Cities to Live in the World. Tokyo is also the political and economic center of Japan.

Cost of Living in Tokyo:

  • Movie tickets for two would cost you $29.
  • A loaf of bread would cost you $7.41
  • Tokyo has 3017 millionaires per 100,000 people.
  • $11,082 would be the cost of buying a square meter area in the city center

Recognition around the world:

  • Largest Urban economy by GDP
  • Categorized as Alpha+city 
  • Had 36 of the 500 Fortune Companies
  • 3rd in Global Financial Centres Index

The city has hosted major events like the summer Olympics 1964 and three G7 summits.

Tokyo was the most expensive city to live in for 14 years continuously which ended in 2006. It holds headquarters for several investment banks and insurance companies. The Toyo Stock Exchange is the largest in Japan and third-largest by market capitalization in the world. Not has vast agricultural land produces of which also contributes to its economy. 36% of the area of Tokyo is covered by forests.

Tourism is also a large contributor to its economy. Every year around 430 million people visit Tokyo. Toyosu Market is the biggest wholesale fish and seafood market in the world.

Los Angeles- United States

Los Angeles is the largest city in California and the second-most populous city in the United States with a population of nearly 4 Million people. It is widely known in Hollywood Entertainment Industry. Los Angeles is number 7 in the list of Most Expensive Cities to Live in the World.

Cost of Living in Los Angeles:

  • Movie tickets for two would cost you $29.
  • Tokyo has 3017 millionaires per 100,000 people.
  • $11,082 would be the cost of buying a square meter area in the city center

Recognition around the world:

  • Ranked 7th in Global City Index
  • Ranked 9th in Global Power Index
  • Ranked 3rd largest city by GDP

The city of Los Angeles has also hosted major events like the 1932 and 1984 summer Olympics and is set to host the 2028 summer Olympics.

Los Angeles has the busiest container port in America.

Activities that drive Los Angeles Economy:

  • International Trade
  • Entertainment
  • Aerospace
  • Technology
  • Petroleum
  • Fashion
  • Apparel
  • Tourism
  • Finance
  • Telecommunications
  • Law
  • Healthcare
  • Transportation

Los Angeles is also the home to 3 Fortune 500 companies and one of them being Reliance steel and aluminum co.

Tel Aviv- Israel

Tel Aviv is number 6 in the list of Most Expensive Cities to Live in the World. Tel Aviv is located in the Gush Dan metropolitan area of Israel.

Cost of Living in Israel:

  • Movie tickets for two would cost you $23.
  • Tokyo has 8076 millionaires per 100,000 people.
  • $12,546 would be the cost of buying a square meter area in the city center

Recognition around the world:

  • World’s Vegan Capital
  • Ranked 25 in the Global Financial Centres Index
  • Fourth Largest Economy Per Capital in the Middle East
  • 2.5 Million International Visitors Annually
  • Top LGBT destination around the world
  • Top 10 oceanfront cities
  • Hottest city of 2011

The city of Tel Aviv is built on Sand Dunes and is unsuitable for farming however has developed itself as a hub for business and scientific research. The city has an unemployment rate of 4.4. Tel Aviv is the largest and the only stock exchange in Israel.

Tel Avis is the fifth most visited city in the Middle East. It has been termed as the city that never sleeps due to its exotic nightlife. It is also home to world-leading hotels namely Crowne Plaza, Hilton, Sheraton, Dan, and Isrotel.

Zurich-Switzerland & Paris- France

The largest city of Switzerland is number 5 on the list of Most Expensive Cities to Live in the World along with Paris.

Zurich

Zurich has a relatively smaller population as compared to its counterparts.

Cost of Living in Zurich:

  • Movie tickets for two would cost you $43.45.
  • Tokyo has 27113 millionaires per 100,000 people.
  • $12,886 would be the cost of buying a square meter area in the city center

Recognition around the world:

  • Top 25 cities in the world
  • 10 most liveable cities in the world
  • Ranked 11 in the Global Financial Centres Index.

The service Industry employs three-fourth of the total employed people and is one of the most important sectors. Out of the top 50 companies in Switzerland 10 are located in Zurich.

Activities that drive the economy of Zurich:

  • Service sector
  • Light Industry
  • Machine Industry
  • Textile Industry
  • Tourism

Swiss Stock Exchange is located in Zurich and is the world’s fourth-largest stock exchange. The stock exchange has been there in existence for almost 150 years.

Paris

Paris the capital city is the most populous city of France.

Cost of Living in Paris:

  • Movie tickets for two would cost you $24.48.
  • Tokyo has 5163 millionaires per 100,000 people.
  • $12,469 would be the cost of buying a square meter area in the city center

Recognition around the world:

Paris has hosted several events namely:

  • Olympic games 1900 and 1924
  • Will host 2024 Summer Olympics
  • 1998 FIFA World Cup
  • French Open Grand Slams
  • 2007 Rugby World Cup
  • 1960, 1984 and 2016 UEFA Europeans Championship
  • Tour De France Bicycle Race

Activities that drive the economy of Paris:

  • Wholesale and Retail Trade
  • Professional, Technical, and Scientific Services
  • Information and communication
  • Transportation and warehousing
  • Finance and Insurance
  • Administrative and support services
  • Accommodation and food services

The city of Paris attracts 38 Million visitors round the year. The monuments are a large center of attraction of people around the globe.

New York

New York is at number r in the list of Most Expensive Cities to Live in the World. New Yor is the most populated and densely populated city in the United States.

Cost of Living in New York:

  • Movie tickets for two would cost you $33.
  • Tokyo has 4039 millionaires per 100,000 people.
  • $14,807 would be the cost of buying a square meter area in the city center

Recognition around the world

  • Largest Metropolitan area
  • Second most populous megacities
  • World’s busiest pedestrian intersections
  • Largest Ethnic Chinese population outside Asia
  • World’s leading financial center
  • Most financially powerful city  

Activities that drive the economy of New York:

  • Banking and Finance
  • Retailing & World Trade
  • Transportation
  • Tourism
  • Real Estate
  • New Media, Traditional Media & Advertising
  • Legal Services, Accountancy & Insurance
  • Theatre, fashion & Arts.

The world’s largest and second-largest stock exchanges are located in New York. Tourism is a vital industry in New York with over 65 million people visiting the city annually.

Major Tourist Destinations In New York:

  • Times Square
  • Broadway Theatre
  • The Empire State Building
  • The Statue of Liberty
  • Ellis Island
  • The United Nations Headquarters
  • Central Park
  • Washington Square Park
  • Manhattan Chinatown

Osaka-Japan Hong Kong-China & Singapore-Singapore

Osaka, Hong Kong, and Singapore are ranked as the number one in the list of most expensive cities to live in the world.

Osaka

Cost of Living in Osaka:

  • Movie tickets for two would cost you $34.46.
  • Tokyo has 4374 millionaires per 100,000 people.
  • $6,233 would be the cost of buying a square meter area in the city center

Recognition around the world:

  • One of the largest metropolitan area in the world
  • Ranked 15th in Global Financial Centres Index
  • 19th World Leading Cities

Activities that drive the economy of Osaka

  • Services
  • Commerce
  • Manufacturing

Events Hosted in Osaka

  • Women’s World Volleyball Championship 1986
  • Women’s World Volleyball Championship 2006
  • Women’s World Volleyball Championship 2010

Oska is widely known for its food all over the world. Food critics term Osaka as the “food capital of the world”.

Hong Kong

Cost of Living in Hong Kong:

  • Movie tickets for two would cost you $25.54.
  • Tokyo has 3059 millionaires per 100,000 people.
  • $31,803 would be the cost of buying a square meter area in the city center

Recognition around the world:

  • Most densely populated places in the world
  • World’s 10th largest exporter
  • World’s 9th largest importer
  • Hong Kong Dollar is the 8th most traded currency in the world
  • Home to the second-highest number of billionaires
  • One of the highest per capita income 
  • Ranked 4th in the UN Human Development Index
  • 35th largest economy

Events Hosted in Hong Kong:

  • 2009 East Asian Games
  • 2008 Summer Olympics equestrian events
  • 2007 Premier League Asia Trophy
  • Lunar New Year Cup
  • AFC Asian Cup
  • 1995 Dynasty Cup

Singapore

Cost of Living in Switzerland:

  • Movie tickets for two would cost you $18.80.
  • Tokyo has 3854 millionaires per 100,000 people.
  • $18,867 would be the cost of buying a square meter area in the city center

Recognition around the world:

  • Ranked 9th in the UN Human Development Index
  • 7th Highest GDP per Capita 
  • The only country in Asia with AAA sovereign rating
  • Fastest Internet Connection speed
  • One of the lowest infant mortality rate in the world
  • The homeownership rate of 91%
  • 14th largest exporter in the world
  • 15th largest importer in the world

Events Hosted in Singapore:

  • 2010 Summer Youth Olympics
  • One Championship
  • Formula One World Championship
  • The Singapore Grand Prix

Activities that drive the economy of Singapore:

  • Telecommunications
  • Banking
  • Transportations
  • Manufacturing

Some rare facts about Singapore

  • World’s 3rd largest foreign exchange center
  • 3rd largest financial center
  • 2nd largest casino gambling market
  • 3rd largest oil refining center
  • largest oil-rig producer

 

So this was it with the most expensive cities in the world. Not many of us can afford to live there however trip to one of them is definitely worth it. If you have ever visited any of these cities or are planning to visit them in near future, do let us know.

Till then read more our articles on our website to get hang of it.

Dev

Dev is an engineer by education, semi banker by profession and a writer at heart.

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2 Comments

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