What are the most expensive cities in the World to visit? Let me guess. I think you would answer London or New York and surprisingly, they are not according to the top 10 in the Economist Intelligence Unit’s 2014 Worldwide Cost of visiting survey. Considering over 130 cities, and depending on more than 400 different price pointers, Singapore is worthy of the unparalleled merit of being ‘top’, defeating Tokyo, ‘winner’ of 2013.
What grabbed our attention was the fact that there wasn’t a single North American city in this list. Competition and free markets seemingly didn’t let prices go too high. It is a well known fact that US travelers spend the most on business travel (more than $300 billion a year) but usually European cities are more expensive than US cities. However, the rankings will probably change in 2015 as the euro declined nearly 20% against the dollar.
We should note that these rankings aren’t identical to cost of living rankings. Here is what Economist said about its cost of living rankings:
“THE WORLD’s ten most expensive cities are all found in Australia, Asia and Western Europe, according to the bi-annual cost of living index from the Economist Intelligence Unit, our corporate sibling. Singapore retains the top spot, while weak inflation and the yen’s devaluation have pushed Tokyo and Osaka to 11th and 16th place respectively. Seoul has risen from 50th place five years ago to joint ninth at the end of 2014. Asia is also home to many of the world’s cheapest cities: Karachi and Bangalore are the joint cheapest locations among the 133 cities in the survey, and five of the six cheapest cities surveyed are in Pakistan and India. Caracas’s descent from top ten to bottom five is due to the survey’s use of an alternative exchange rate. The cost of living in New York has risen by about 23% over the past five years.”
While we discuss about the 10 most expensive cities in the world to visit, you can also take a look at the following cover stories we did on Most Expensive Cities To Rent In the World, Most Expensive Cities In the World, and Most Expensive Cities To Live in North America.
10. Copenhagen, Denmark (Rank 7)
According to the previous Economist report, the Danish capital, Copenhagen was in 15th place, though it is now in the top 10. Drinks are expensive in Copenhagen and price is almost double than in the UK though you will be to know that Copenhagen came top in the UN’s first World Happiness Report. So, certainly people come to visit this city will be delighted.
9. Melbourne, Australia (Rank 6)
Melbourne is one of the most posh places in the world to visit. Though the price of some products has decreased, cigarettes are still at a price around $18 AUD a packet. Looks like smokers have to stay quiet for a while visiting Melbourne.
8. Geneva, Switzerland (Rank 6)
Geneva is one of the 10 most expensive cities to visit. Living cost is on the high day after day. As a result, it is difficult to find a suitable place within your budget. On the positive side, unleaded petrol costs less than $2 per liter in this city and Geneva is the only European city in the top 10 to have it.
7. Caracas, Venezuela (Rank 6)
Caracas is the most expensive city to visit in the Americas. It is the capital of Venezuela and is a place where even the rent of typical one-bedroom apartment costs 2.5 times the average salary in that region. Black market and also unofficial exchange rates are present over there and are helping people in somewhat to reduce the official and original costs.
6. Tokyo, Japan (Rank 6)
The capital of Japan, Tokyo is among the 10 most expensive cities in the world to visit and it was once top of the Economist’s survey. Due to falling Yen, it is now in sixth position along with Melbourne, Geneva and Caracas.
We recently published a very interesting article about Japan titled “50 Crazy Facts About Japan“. Check it out.
5. Sydney, Australia (Rank 5)
Sydney, along with Melbourne is on the top 10 in our list and it is the most expensive place to buy properties in Australia. As mentioned before, tobacco is expensive in Australia and so it is in Sydney. Alcohol is also very expensive and even going for a movie in cinema theatres is even 50% more expensive than New York City.
4. Zurich, Switzerland (Rank 4)
People of Switzerland have the benefit of high salaries and small rates of tax, but that still doesn’t mean that it’s less expensive to live and visit. It has higher rates for food, insurance and other services than most of the other European countries. Thus, Zurich ranks high on the list.
3. Oslo, Norway (Rank 3)
Among the 10 most expensive cities in the world to visit, Oslo ranks third and that is why the presence of this city is a must in our list. Drinks are really expensive here that a beer will cost you around 82 NOK (approximately $14).
2. Paris, France (Rank 2)
The French capital, Paris is in the list due to higher rates of living comparing other big cities. The rate for per square feet is even more than that London. The Eiffel Tower is in this city, making Paris surely a huge attraction for tourists thus expensive to visit.
1. Singapore City, Singapore (Rank 1)
Singapore City ranks first among 10 most expensive cities in the world to visit while London is not even in the top 10. Cost of cars is almost four or five times comparing with that in Europe or the United States, and the charge of the accommodation is sky high. It is the most expensive place in the world to buy clothes, economy depends heavily on imported commodities and has a progressively strong currency. The city’s transport costs are almost three times more than New York, which it used as a standard for comparisons.
