Nine most expensive cities

1. New York, United States

New York topped ECA International’s Cost of Living Rankings for 2023 due to its skyrocketing in ation and soaring accommodation expenses. e city’s rents have reached record highs, and there are now 1.5 million people in New York living below the poverty line.

2. Singapore

Land in Singapore is scarce and natural resources are limited, making the cost of living in Singapore high. It is the world’s secondmost expensive city in the Economist Intelligence Unit’s Worldwide Cost of Living 2021 study. On the list of cost of living cities maintained by ECA International, this city rose from 13th in 2022 to fth in 2023.

3. Hong Kong, China e very in ated real estate market is a major contributor since it drives up the cost of nding a place to live. e value of the local currency also plays a role, as it drives up the cost of living. e city has a high demand for land and homes but a low supply, prompting the suggestion of creating an arti cial island to help alleviate the situation. It went from rst place in the most costly cities in 2022 to second this year.

4. Geneva, Switzerland e capital city of Switzerland has an abundance of costly variables that contribute to Geneva’s high cost of living, including the city’s prosperous economy, high incomes, restricted housing supply, high taxes, and high import duties. Switzerland is pricey, but Geneva’s unique blend of security, e ciency, cleanliness, and natural beauty pushes up the cost of living even further.

Many studies have found that the higher earnings and more advantageous employment contracts in the area more than makeup for the more signi cant cost of living. It comes in at number three in both 2022 and 2023.

5. Westminster, London e fact that it serves as the global nancial center is certainly a plus. Its ability