The top 10 most expensive cities around the world, ranked

Shutterstock/Arne JW Kolstoe

Sydney, Australia
  • Singapore reigns as the world's most expensive city for the fifth year in a row, based on a report by The Economist Intelligence Unit.
  • Seoul also kept its No. 6 ranking for the second consecutive year.
  • Asia remains the continent with the most expensive cities, closely followed by Europe .
  • Since last year, European capitals Paris and Copenhagen have both moved up in ranking.

Asian and European cities led the list of most expensive cities around the globe in 2018.

That's according to the Economist Intelligence Unit's annual Worldwide Cost of Living report , which highlightsthe top 10 most expensive cities around the globe. The report uses more than 400 prices across 160 different products and services including food, drink, clothing, and home rents to calculate rankings.

Singapore has consistently held its No. 1 ranking since 2014, when it surpassed Tokyo , which had previously occupied the top spot nearly every year since 1992 .

Several cities, including Tel Aviv and Seoul, have made massive leaps in the list over the last five years.

The report notes that while Asia accounts for many of the world's most expensive cities, it is also home to many of the cheapest cities as well, including Bangalore and New Delhi. Cities such as these tend to remain cheaper when experiencing political or economic disruption.

In past reports , American cities have appeared in the top 10, but New York City and Los Angeles currently top out at No. 13 and No. 14 respectively. According to the report, this is due, in part, to a weakening dollar when compared to other currencies.

Below, you'll find the 10 most expensive cities ranked from least to most expensive, along with their comparison ranking from last year.

See Also:

SEE ALSO: Here's how much a bottle of wine costs in each of the world's 10 most expensive cities

JOIN OUR PULSE COMMUNITY!

Unblock notifications in browser settings.

Eyewitness? Submit your stories now via social or:

Email: eyewitness@pulse.ng

Recommended articles

Ayisha Modi goes naked on IG as she flaunts her newly ‘acquired’ body (VIDEO)

Ayisha Modi goes naked on IG as she flaunts her newly ‘acquired’ body (VIDEO)

Police officer arrested for sexually harassing woman in a car

Police officer arrested for sexually harassing woman in a car

19-year-old girl stabbed multiple times in Accra after catching her brother & mother having sex

19-year-old girl stabbed multiple times in Accra after catching her brother & mother having sex

Rema's manager, Sean Okeke responds to DJ Neptune's statement, regarding the ongoing 'For You' drama

Rema's manager, Sean Okeke responds to DJ Neptune's statement, regarding the ongoing 'For You' drama

Talent manager Teebillz praises BBNaija's Tacha for not 'opening her legs'

Talent manager Teebillz praises BBNaija's Tacha for not 'opening her legs'

You should not do any of these while visiting the Oba's palace in Benin

You should not do any of these while visiting the Oba's palace in Benin

WCQ: Minimise mistakes to avoid Morocco, Algeria, Senegal, NFF President Amaju Pinnick tells Super Eagles

WCQ: Minimise mistakes to avoid Morocco, Algeria, Senegal, NFF President Amaju Pinnick tells Super Eagles

Iheanacho, Collins underwhelm - Player ratings: Liberia 0-2 Nigeria

Iheanacho, Collins underwhelm - Player ratings: Liberia 0-2 Nigeria

Judicial panel tells government to change Lekki tollgate to EndSARS tollgate

Judicial panel tells government to change "Lekki tollgate" to "EndSARS tollgate"