In the past few months, a number of rankings have appeared, determining everything from the best cities in the world for expats to the best country in the world. Yet another survey has recently been released: The Economist Intelligence Unit's 2019 Worldwide Cost of Living rankings, which proclaims Singapore, Hong Kong, and Paris the world's most expensive cities—the first time that three places have shared top billing.
The annual report, which ranks 133 cities based on a twice-yearly survey, collects more than 400 individual prices across more than 160 products and services—including food and drink, clothing, rent, transportation, utility bills, private schools, domestic help, and recreational costs—to arrive at the overall cost of living. A glimpse at some of the intel: In Paris, a two-pound loaf of bread costs $5.66 on average; in Hong Kong, a two-piece business suit will run you an average of $1,874.65. In Singapore, which had topped the "most expensive city" list for five years in a row prior, a women's haircut averages $96. (For comparison's sake, in the world's "cheapest" city, Caracas, Venezuela, that same haircut would cost $1.77.)
Though the list is dominated by Asian and European cities, New York and Los Angeles cracked the top ten after being jointly tied for 39th place a mere five years ago. The reason? Sharp currency appreciation, or a stronger U.S. dollar, which means that U.S. cities have become more expensive globally. In fact, all but two U.S. cities rose in the list's greater rankings this year, with the highest climbers being San Francisco (25th up from 37th previously), Houston (30th from 41st), Seattle (38th from 46th), and Detroit and Cleveland (joint 67th from joint 75th).
Interestingly, the report notes that certain regions are typically more expensive for certain things: In the U.S., for instance, domestic help and utilities remain expensive. Asian cities, meanwhile, tend to be most expensive for groceries, while European cities are hit hardest by household, personal care, recreation, and entertainment costs.
A full list of the most expensive cities can be found below.
1. Singapore
1. Paris, France
1. Hong Kong
4. Zurich, Switzerland
5. Geneva, Switzerland
5. Osaka, Japan
7. Seoul, South Korea
7. Copenhagen, Denmark
7. New York, New York
10. Tel Aviv, Israel
10. Los Angeles, California
This article was originally published in 2016. It has been updated with new information.
