10 Countries With The Highest Cost of Living In The World in 2023

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5. Republic of Singapore

Insider Monkey’s Cost of Living Score: 131

The Republic of Singapore, commonly known as Singapore, counts itself among one of the few city states in the world. It is an Asian financial hub and an important port city for the billions of dollars of exports that take place from Asia to the West each year. Singapore has a $701 billion GDP and the second highest GDP per capita in the world. Singapore has also often been criticized for being a tax haven for wealthy individuals due to low levels of income tax. It also houses the highest number of millionaires in the world and has generous social support programs for its citizenry.

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