Top 10 most expensive cities in the world for living

The most expensive cities in the world in terms of cost of living were determined by the experts of the British magazine The Economist. They assessed life in 172 major cities around the world. In 2023, the cost of living increased sharply by 8.1% compared to the previous year, the biggest jump in 20 years.

To estimate the cost of living, experts collected price data for more than 200 categories of goods and services. These include prices for food, drinks, clothing, household items, personal care items, housing rent, transportation, utility bills, private schools, home help, and recreational expenses.

Items are updated or revised periodically to reflect changes in shopping habits. For example, the most recent review revised indicators such as for mobile phone services, as well as for taxis and other car rental services.

The most expensive cities in the world in 2023

• New York, USA
• Singapore
• Tel Aviv, Israel
• Hong Kong
• Los Angeles, USA
• Zurich, Switzerland
• Geneva, Switzerland
• San Francisco, USA
• Paris, France
• Sydney, Australia
• Copenhagen, Denmark

Analysts named the cities in which there was the largest jump in prices. Prices also rose in six US cities (Atlanta, Charlotte, Indianapolis, San Diego, Portland and Boston), in the capital of Mexico and Saipan, a city in the Mariana Islands in the Pacific Ocean. These are the few most expensive cities in the world.

The experts also identified cities in which the cost of living has decreased over the past 12 months. We are talking about Luxembourg, Stockholm, Lyon, Osaka, Manchester, Noumea, Brussels, Douala, Busan and Tokyo.

The cheapest cities in the world for living are also named, these are mainly cities in Asia and Africa. The TOP-5 cheapest ones include Damascus (Syria), Tripoli (Libya), Tehran (Iran), Tunisia and Tashkent (Uzbekistan).