Similar to the 2008 global economic crisis, the world’s economy has been thru a shock again in 2020 which would make it more difficult to make money in the following year and everyone should definitely be careful where and what to spend their hard-earned money on.
In this post, we listed the world’s most expensive cities to live in 2020. This list is shifting fast. Just ten years ago, most of the cities on the list were located in Europe, but now, the list is heading to fast-developing Asian countries with a booming economy.
This Swiss city has experienced a boost in salaries and low taxes which made its citizens’ lives a bit more affordable and dropped their city’s ranking from nine last year to ten.
Japan’s capital is home to more than 9.2 million people. It s the world’s most expensive city to book a hotel suite. The cost of living in Tokyo is so high that 1kg of loaf bread would cost about $7.41 on average.
8- Los Angeles
Similar to New York, the angels’ city is famous for its high cost of living which seems to be only climbing since domestic demand is on the rise.
7- Tel Aviv
Tel Aviv, former Israel’s capital is the only Middle Eastern city on the list. Tel Aviv’s rising transport costs such as car ownership is the main reason that Tel Aviv’s ranking has improved on the list!
Zurich in Switzerland has is one of the best cities to live in terms of quality of life, as well as having a high salary paying system which would be the main two reasons why this city has made its way to this list.
The city of love doesn’t come cheap, does it? Everything in this world has its own price, even love!
4- New York
Manhattan and the large population of more than 8.3 million are the main reasons that New York is one of the most expensive cities in the world. For example, a woman’s haircut would cost about $210.
Osaka in Japan is mostly famous as being a foodies favorite city, but it’s now tied up with Hong Kong and Singapore as the world’s most expensive city in 2020.
=1- Hong Kong
Hong Kong in China has the most expensive real estate market in the world which makes it almost impossible to own a property, even for people with high salaries.
Singapore in Singapore has the highest car prices in the world. a Volkswagon Golf which is $44,000 in Norway would cost more than $110,000 in Singapore.
10 thoughts on “world’s most expensive cities to live in right now”
Interesting article. I didn’t really put much thought into this. Thank you for sharing!
Thank you for your comment.
I’m surprised London didn’t make the list. Income inequality is increasing there thanks to prices also increasing and income isn’t matching it. That was one major reason I was happy to leave. When my Dad asked me if I wanted to go back there, I said, “I might as well flush money down the toilet!” It’s that bad
Wow! That’s so sad to hear.
I was reading about the term “Londonistan” yesterday and thought I should ask your opinion about it. Maybe in email, not here! Lol
Go for it! Be happy to share!
I think Bangladesh has far higher import duties for cars than Singapore, doesn’t it?
I’ll look it up. when I was researching, three different rankings mentioned Singapore.
Thabk you for your email.
Ha, no worries. It’s a great post!! 🙂
Thank you for your comment! 😊