The results of this year’s Worldwide Cost of Living survey reveal that Singapore is the most expensive city in the world for the fifth consecutive year.
The survey sees Asian hubs like Hong Kong and Sydney compete with European cities such as Paris, Zurich and Oslo at the top of the ranking.
Other key findings in the report include that cities in west Europe have returned to among the most expensive, and the region now accounts for three of the five most expensive cities and for half of the top ten.
Syria’s capital of Damascus props up the ranking, having fallen 14 places to the last position in the past 12 months.
Mexico City also saw the fastest rise in the relative cost of living of any city, moving up 23 places to 59th position.
The Worldwide Cost of Living is a biannual Economist Intelligence Unit survey that compares more than 400 individual prices across 160 products and services.
These include food, drink, clothing, household supplies and personal care items, home rents, transport, utility bills, private schools, domestic help and recreational costs.
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