The question that everybody asks is how can one adjudge which city is the most expensive? Well, the ECA international is a global mobility company that compiles the different financial data of different cities across the globe and puts out a list of the cities where the expenditure on daily life is the most. One thing is for sure, Asia is the most expensive continent in the world. The fact that Hong Kong claimed the position of the most expensive city in the world three times in a row speaks volumes about how expensive it would be to live in Asian cities. Today, a list of the most expensive cities across the globe will be discussed.
List of the most expensive cities across the globe
Hong Kong: 1st in Expensive Cities In The World
To start our list, the first city is Hong Kong. Hong Kong is known for providing the most luxurious lifestyle and attracts thousands of the wealthiest businessmen. As aforementioned, Hong Kong has claimed the title of the most expensive city in the world on the ECA index for the third time in a row!
New York, USA: 2nd in Expensive Cities In The World
The list would be incomplete without mentioning the concrete jungle of the USA. New York is known as the land of opportunities and because of the massive businesses operating out of New York, thousands of people come to New York to make a name for themselves. With the highest amount of rent for apartments and houses, New York is worthy of being the number 2 most expensive city on our list.
Geneva, Switzerland: 3rd in Expensive Cities In The World
Unless you have been living under a rock, you must have heard of Geneva on more than one occasion. This is the place where the rich politicians and businessmen have their bank accounts filled to the brim with their money. Geneva is popular for its highly modernized living, the lavish restaurants, and providing one of the most high-class social atmospheres. With a small population of just 200,000, Geneva is one of the most luxurious and the most expensive cities in the world.
London, United Kingdom:
Everybody dreams of visiting London. With the beautiful weather, the massive streets, and one of the most beautiful architecture, London is only for the ones who live an extravagant life. London is known for having some of the highest living costs and rent in the world. Even the public transport in London would seem expensive to someone with a normal economic background. If you want to have a comfortable life in London, the only advice is to have a truckload of cash available to you at all times.
Tokyo, Japan:
The lifestyle portrayed in the famous movie, Fast & Furious: Tokyo drift is not cheap. Tokyo is the capital of Japan and one of the most modern and hi-tech cities in the world. The rent, public transport, and even cars are one of the most expensive in the world. Therefore, if one wants to enjoy the fast-paced and advanced Tokyo life, one needs to have a respectable bank balance.
Shanghai, China:
Shanghai is also part of the most expensive cities in the world and it is largely due to the massive inflation rates that the city faced recently. With a population of above 26 million people, Shanghai is an extremely big city with some of the most high-priced rents and other necessities.
Seoul, Korea:
The last city on our list is Seoul, a city in Korea. Korea is one of the largest automobile manufacturers in the world, along with numerous other industries such as construction companies and shipbuilders. The economy of Korea has performed well lately. However, the hefty housing costs and security deposits made by the residents make Seoul one of the most expensive cities in the world.
CONCLUSION:
The world is a social jungle and almost everything is interdependent in today’s modern world. While some cities are cheaper to live in with lower rents, lesser taxes, and better pricing of daily necessities, there are no doubt many cities which are made just for the wealthy few. To settle in the abovementioned cities, one has to have a great source of permanent income and the income has to be in massive numbers.
Are the wages better in expensive cities?
The hourly wages or salaries are dependent on a long list of factors but usually, expensive cities do have better job options, and therefore, one can earn more money.
Is it possible to own property in the most expensive cities?
It is most definitely possible to own property in cities like Geneva, New York, or London. If one has the cash, they’re free to buy the property of their choice.
