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Singapore is the world's most expensive city to live in. According to the "EIU Report Worldwide Cost of Living Report 2016" released by The Economist, the Lion City has an index of 116. Transportation costs in Singapore are even 2.7 times higher than in New York. The prices of clothing and electricity tariffs in the city are also among the highest.
Zurich and Hong Kong are ranked second and third, respectively, with an index of 114. Meanwhile, London and New York are ranked sixth and seventh, with indices of 101 and 100.
This survey by The Economist Intelligence Unit compiles an index from the prices of 160 types of goods and services purchased by consumers. These prices are collected and converted into US dollars. This cost of living index is based on an international lifestyle pattern and is not geared towards the spending patterns of any specific country.
"Disclosure: This is an AI-generated translation of the original article. We strive for accuracy, but please note that automated translations may contain errors or slight inconsistencies."
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