In the aftermath of the Fukushima power plant disaster, Tokyo has forfeited the dubious merit of being the world’s most expensive city.
In the Economist Intelligence Unit’s biannual report, ranking 131 global cities, Singapore is instead throned, while the Japanese capital slumps to a sixth place.
Singapore’s ascension is on the back of soaring living costs, currency appreciation and solid price inflation. The city-state’s meager natural resources makes it heavily reliant on energy and water imports, transport costs are almost three times higher than New York and it is the most expensive place to buy clothes in the world.
The world’s 10 most expensive cities to live in:
1. Singapore
2. Paris
3. Oslo
4. Zurich
5. Sydney
6. Caracas, Geneva, Melbourne, Tokyo
10. Copenhagen
The bottom of the list features a scrum of South Asian metropolises. “Although India has been tipped for future growth, much of this is driven by its large population and the untapped potential within the economy,” says the EIU.
The five least expensive global cities to live in:
127. Damascus, Kathmandu
129. New Delhi
130. Karachi
131. Mumbai
[CNN]
More Must-Reads from TIME
- Donald Trump Is TIME's 2024 Person of the Year
- Why We Chose Trump as Person of the Year
- Is Intermittent Fasting Good or Bad for You?
- The 100 Must-Read Books of 2024
- The 20 Best Christmas TV Episodes
- Column: If Optimism Feels Ridiculous Now, Try Hope
- The Future of Climate Action Is Trade Policy
- Merle Bombardieri Is Helping People Make the Baby Decision
Contact us at letters@time.com