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Singapore takes most expensive city crown from Tokyo

Singapore takes most expensive city crown from Tokyo
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Singapore has become the world’s most expensive city for expatriates.

It replaces Tokyo, which was number one for years but has dropped down to joint sixth in the annual rankings compiled by researchers at the Economist Intelligence Unit.

The reasons for Singapore’s rise were its strong currency, the high price of utilities and the cost of car ownership.

The report checks the prices of over 400 products and services.

Singapore was followed by the French capital Paris, then Oslo in Norway, the Swiss city of Zurich and Sydney, Australia.

The least expensive – out of 131 – was Mumbia in India, just cheaper than the Pakistani city of Karachi, and the Indian capital New Delhi.

Paris rose six places to become the world’s second-most expensive city, which the report’s compilers say, in part, reflects a recovery by European economies.

London was ranked 15th while New York was in 26th place.

The report’s authors said one reason why Mumbai was the least expensive major city in which to live was income inequality meant low wages for jobs like domestic help, driving down household spending.

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