Singapore and Zurich rank as world’s most expensive cities in 2023

The Economist Intelligence Unit (EIU) recently revealed that Singapore and Zurich share the title of the world’s most expensive city in 2023. Following closely are Geneva, New York, and Hong Kong, maintaining that the worldwide cost-of-living crisis is yet unresolved.

The research and analysis division of the Economist Group observed that prices for over 200 frequently utilised goods and services have risen by an average of 7.4% year on year in local currencies. Despite being a decrease from last year’s record 8.1% hike, it is still notably above the trend observed from 2017 to 2021.

Singapore reclaimed its top spot for the ninth time in the past 11 years. This reinstatement is attributed to the high price levels across various categories. The city-state is infamous for the world’s highest transport costs, a result of stringent