People come to big cities looking for better opportunities and with the idea of making life better. However, there are costs that one must be prepared to pay in these major cities. And it could rise further in the near future. According to the Economist Intelligence Unit’s (EIU) Worldwide Cost of Living Index for 2022, the average cost of living will rise 8.1% due to the Russian war in Ukraine and the lingering effects of the pandemic.
These are the 5 most expensive cities in the world:
New York
Millions of tourists from all over the world travel to New York every year. It is the most populous city in the US and is also referred to as “The Big Apple”. New York City is divided into five boroughs, each associated with a different county in New York State: Brooklyn (Kings County), Manhattan (New York County), Queens (Queens County), the Bronx (Bronx County), and States Island (Richmond County).
Singapore
Singapore is a small but thriving island nation that has a lot to offer in terms of lifestyle amenities and personal development. Despite being a small red dot on the world map, the country is ideal for growing families and children in a happy and safe atmosphere. The city-state is number two on the list of the most expensive cities in the world
Tel Aviv
Third place is for Tel Aviv. The fifth most visited city in the Middle East and Africa is located on Israel’s Mediterranean coast. The city, known for its culture, also has a vibrant nightlife.
Hong Kong and Los Angeles (tie)
Los Angeles and Hong Kong are the next two on the list. Los Angeles is a city in California, United States, and is known for its iconic Hollywood sign and for being the official residence of many famous actors, while Hong Kong is a city and a special administrative region of China, officially known as the Hong Kong Special Administrative Region of the People’s Republic of China. In addition, it serves as the country’s hub for the film and television industry.
Zurich
Zurich is the financial capital of Switzerland and a chic banking city. It is therefore no surprise that it is often referred to as one of the most expensive cities in the world. Zurich is known for its lavish lifestyle, luxury shopping and gourmet chocolates. Despite its high cost and extravagance, it is ranked as one of the best cities in the world to live in.
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