The Economist Intelligence Unit’s 2019 World Cost of Living Survey annual list came out last week, and Hong Kong moved up from 4th place in 2018 to join both Singapore and Paris as the world’s most expensive city. This year’s results revealed that four of the world’s most expensive cities are in Asia, with two topping the world alongside France.
Hong Kong has held a spot in the top 10 for almost two decades, since 1999, excluding a three-year stint from 2012-2014.
Singapore has been the most expensive city for five years running, holding the top spot since it first passed Tokyo in 2014.
Tokyo, which has also held a steady spot in the top 10 since 1992, was nowhere to be seen in the top 10 this year. Instead Osaka nabbed a spot in the top list, coming in 5th.
The report comes just a few weeks after The Economist Intelligence Unit released the results of The 2019 Bleisure Barometer Asia, which saw Hong Kong tie for third with Sydney, Australia. The report surveyed 1,500 travellers worldwide to determine which cities in Asia global business travellers enjoyed most for corporate trips with leisure components. The bleisure barometer raises the question is our high rent really the cause for having the world’s highest cost of living, or are there some elements of greed and targeting wealthy business travellers in there too?
These are the world’s top 10 most expensive cities:
1. Hong Kong
7. New York
10. Tel Aviv
10. Los Angeles
Download the full report here.
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