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The 10 most and least expensive cities in the world today

by Tim Winship on Mar 29, 2018, 5:03 PM

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  • A recent study by The Economist ranked cities worldwide based on their cost-of-living, from rent to food and drink. 
  • Singapore has maintained its title of the world's most expensive city, followed by the European cities of Paris and Zurich.
  • The Syrian capital of Damascus rated as the least expensive city in the world, with Caracas and Almaty in second and third place respectively. 

If it seems that most of the cities you most want to visit are particularly expensive, you're probably right. According to The Economist's latest "Worldwide Cost of Living 2018" report, the world's 10 most expensive cities are also among the world's top travel destinations.

The study's rankings are based on prices for 160 products and services in each city, including food, drink, clothing, household supplies and personal care items, rents, transportation, utility bills, private schools, domestic help, and recreation costs. So what's being measured is more cost-of-living than cost-of-visiting. Still, if it's expensive to live there, it's a safe bet that it's also expensive to visit.

As it has for several years, Singapore was at the top of the world's most expensive list:

  1. Singapore
  2. Paris
  3. Zurich
  4. Hong Kong
  5. Oslo
  6. Geneva and Seoul (tie)
  7. Copenhagen
  8. Tel Aviv
  9. Sydney

At the other end of the cost-of-living spectrum, Damascus, Syria, was the cheapest of the cities reviewed, followed by Caracas, Venezuela, and Almaty, Kazakhstan.

  1. Damascus
  2. Caracas
  3. Almaty
  4. Lagos
  5. Bangalore
  6. Karachi
  7. Algiers
  8. Chennai
  9. Bucharest
  10. New Delhi

U.S. cities lost ground since last year's report, due to the weakening of the dollar against other currencies. New York, which was the ninth most expensive city in 2017, fell back to number 13 in 2018. And Los Angeles slipped from number 11 to number 14. Still pricey, but a tad less so.

SEE ALSO: This man did a 22,000 mile road trip of North America — these are the 25 spots he says you can't miss


 
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