Singapore Eclipses Tokyo As World’s Most Expensive City
Singapore is the world’s most expensive city to live in, according to a report published by the Economist Intelligence Unit, which covers 2014.
Other cities in the top five are Paris, Oslo, Zurich, and Sydney. Tokyo, which topped the list in 2013, dropped to the number six position this year.
The EIU’s Worldwide Cost of Living Survey is used by companies to calculate costs and compensation packages for expatriates and business travelers. To calculate each city’s cost, researchers look at over 400 individual prices across 160 products and services including food, clothing, household supplies, personal care items, housing costs, transportation, utilities, schools, household help, and recreational costs.
All cities in the survey are compared to a base city of New York, which has an index set at 100.
(Photo: Accura Media Group)