Every year, research is done in order to rank the Top 10 Expensive Cities in the world. It has been a dream of very many young people to live in big cities. What they do not know is that the cost of living in most of these cities is very high. There are multiple reasons why people want to live in big cities. Some of the reasons include the fact that it is very easy to move around this cities as there are better means of transport.
In the big cities, if you can be able to embrace the new challenges, it becomes easier to live here. If you are a person that does love to socialize, well in these cities you will be able to find very many people. Deflation and currency devaluations usually determine the cost of living in these cities. Research has also found out that instability in a city can increase the cost of living. It is interesting to note that there is no city from the United States of America. This is due to the weakening of the dollar in relation to the G-10 currencies. This is despite the increasing cost of living in the United States.
Top 10 Expensive Cities in the World
10. Sydney, Australia
Sydney is the city that has the largest population in Australia. The increase in population has led to the rise in the cost of living in this area. It has been able to experience very large businesses as well as fashion companies setting their business here. Sydney has seen some people migrate to work here. It also has very easy access to government services. These are some of the facilities that have attracted so many people to move to Sydney. Well, these facilities come with a price. It is number ten on the list of the Top 10 Expensive Cities in the world. Food, rent, and education costs are high in relation to other cities.
9. Tel Aviv, Israel
Five years ago, Tel Aviv got to be ranked at number 34 on the most expensive! It has risen to number nine in the list of Top 10 Expensive Cities in the world. High costs of purchasing cars have increased these costs. This city got ranked number two in the category of the most expensive country to buy alcohol. Food and rent cost very high in this city.
8. Copenhagen, Denmark
Copenhagen is among the most beautiful cities that you can live in. The engineers and architectures have well planned the city. It has very clean water, well-constructed roads, fabulous museums and also high profile restaurants. Despite this fact making this city more tempting to live in, they have contributed significantly to increasing the cost of living. The rent, education and the maintenance cost are relatively high. This has made most people to get paid hefty salaries in order to cater to their needs. Copenhagen does host the wealthiest people in Denmark. This means they can comfortably afford these services with no hardships. They have large businesses that usually sells high-quality goods. All the above factors have seen Copenhagen get rated number eight in the list of Top 10 Expensive Cities in the world.
7. Seoul, South Korea
Seoul is the capital city of North Korea. This city has well-structured skyscrapers, expensive malls, and high tech subways. This city is very vibrant in drama and movie industries in Asia. Pop culture is widespread in these areas. It has outstanding public services, and it has excellent infrastructures. These factors have played a part in increasing the cost of living.
6. Geneva, Switzerland
Geneva has been a host to very many tourists from all over the world. The cost of living in this area is very high as the Swiss Franc has gained more in relation to US dollar. This has made the cost of living in this area to be very high. This city has well administered public services. It is number six on the list of Top 10 Expensive Cities in the world.
5. Oslo, Norway
If the rankings used the alcohol price, then this would be the most expensive city in the world. It has very great tourists’ attractions. The restaurants have unique and special foods. This facility has made Oslo be a costly city to live in. It got to be ranked number five among the Top 10 Expensive Cities in the world.
4. Hong Kong, China
Hong Kong is the largest city of imports and exports in Asia. This has made companies set up their headquarters in this place. Hong Kong has terrific numbers of tourists. It has very great tourists’ attractions. The restaurants have unique foods. This facility has made Hong Kong be the most expensive city in China. It got to be ranked number four among the Top 10 Expensive Cities in the world.
3. Zurich, Switzerland
Zurich is the biggest city in Switzerland. It has well-developed banking services. The city is well decorated with high-end restaurants and very excellent roads. It has high wages due to having insurance and luxury goods. Fuel, power, food, and rent are costly. Swiss Franc has gained value and is very expensive in relation to US dollar. Imported products are expensive. This has increased the cost of living.
2. Paris, France
Paris has made a name as the city of romance. It has been an ideal honeymoon destination for most couples. It has some historic structures. Paris has a rating of being among the most beautiful cities in the world. It has a well-structured city administration. Did you know that Paris is the most expensive city in Europe? Now you know. Paris has some of the best designers in the world as well expensive perfumes. The cost of living in this city is high because most of the places in Paris are posh areas and in houses. It is number two on the list of Top 10 Expensive Cities in the world.
Singapore has huge businesses, and it has multiple multinational setting up their offices here. This city has been able to attract a very large workforce. It has also experienced very high housing costs. The food is very pricey, and so is the public transport charges. All these factors have played a very big role in making Singapore the number one city on the list of Top 10 Expensive Cities in the world.
Many of the youth have adopted believe that life in the city is very smooth. I want to believe that this article will help them even as they plan to move to the big cities. If people can be able to work together, life will become more sustainable.