Costliest Cities in the World...

The lifestyle and the cost of items required for daily use are the indexes which determine which is the most costly city in the world. In other words the standard of living in these expensive cities is very high compared to others which sets them apart. The main items that can be considered for evaluating the standard of living in these cities include transport, food and drink, cost of residences, rent of residential apartments, clothing and utility charges. 

The cost of living in these cities is also dependant on the fluctuations of various currencies of each country in relation to the major currencies of the world and price changes that takes place in these countries which affect the economy. 

Some of the most expensive cities in the world at present are given below...

• Singapore...

This city has dethroned Tokyo, the capital city of Japan, as the most expensive city in the world to live in. The biggest factor which makes Singapore the most expensive is the cost of transportation. Owning a car is a very costly affair as the price that has to be paid for buying the car is quite steep as it includes a lot of fees. 

Cost of transportation is almost three times the cost of transportation prevalent in New York. Furthermore, Singapore is a city-state which does not have any mentionable natural resources. This makes this city dependant on external sources of power and water. 

The cost of both these utilities has pushed up the cost of living here. Garments and clothing are also very expensive here.    

  

• Paris...

After Singapore, France’s capital Paris is the most expensive city in the world to live in. It is also known as the fashion capital. It is very difficult for a person with a modest source of income to live decently in Paris. Whether it is food, housing, clothes, transportation or personal care everything costs much more than what you can get in many other cities. Clothes, books and electronics goods are costly as well as groceries and gas. 

The average income is comparatively very low than in US and with the higher cost of living Paris is a quite an expensive place to stay in Europe.

• Oslo...

Oslo, the capital of Norway, can be ranked as the third most expensive city in the World. Most of the things cost almost twice as much compared to the cost of the same items in New York, e.g. you have to pay almost double the amount for a can of soda in Oslo than when you buy the same can in New York. Only real estate prices are more in New York compared to Oslo. 

But as the prices of common items required in day-to-day life is higher in Oslo it is quite expensive to stay in this city whether you are a permanent resident or a frequent visitor. This is true for the whole of Norway whose per capita GDP is one of the highest in the world.  

• Zurich...

  
  
  
  
  

Zurich in Switzerland is the fourth most expensive city in the world. Though taxes here are low compared to other cities, the cost of food, services and insurance are quite high. The average income of a working person is high which increases the purchasing power also. This means that the person is able to buy products made by foreign brands more easily than people in other cities. 

Compared to other European countries the prices of all kinds of products and services are high. Clothing and entertainment costs more here as well as does healthcare. Though petrol is cheaper compared to some European cities the cost of owning a car is much higher than in other cities. 

• Sydney...

Sydney is the capital of Australia. House rent in Sydney is quite high which makes this city the fifth most expensive city in the world. Items of daily use like groceries, prices of utilities, expenses required for keeping your mobile operational and things like that produce an expensive picture of this Australian city. 

The areas around the beaches and in the central part of Sydney are usually very expensive if you want to set up your accommodation in these areas. Transportation is expensive as the cost of petrol is high here compared to other cities in the world. Basically due to transportation, every other thing also becomes costly.