Singapore Named the Most Costliest City to Live in
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According to the Economist Intelligence Unit (EIU) Singapore is the most city in the world and became number one out of 131 cities worldwide. The EIU’s survey took in to account the cost of living whereas other firms use different research methods. Increasing utility bills, the cost of basic groceries and high costs for running a car, contributed to the city’s expensive living. The city also has an increasingly strong currency.
Singapore replaces Tokyo on the top of the list. Tokyo was named the most expensive city in 2013. Other cities making it to the top five are Paris (France), Oslo (Norway), Zurich (Switzerland) and Sydney (Australia).
The editor of the report, Jon Copestake, stated that Asia and Australia ‘continue to supply most of the world’s expensive cities’. Although this has been specified, Asia cities also continue to make up some of the world’s cheapest cities, particularly in the Indian subcontinent. Mumbai and New Delhi, which are India’s major cities, are found to be among the least expensive cities in the world.