Feb
3
2011

Top 10 Most Expensive Cities In The World

10. Singapore

Singapore

the Republic of Singapore, is an island country off the southern tip of the Malay Peninsula, 137 kilometres (85 mi) north of the equator, in Southeast Asia. It is separated from Malaysia by the Straits of Johor to its north, and from Indonesia’s Riau Islands by the Singapore Strait to its south. Singapore is the world’s fourth leading financial center and a cosmopolitan world city, playing a key role in international trade and finance. The port of Singapore is one of the five busiest ports in the world. The city of just under 5 million people takes up the majority of the country of 710km2, leading to an extremely high population density of almost 7000 people per km2.

9. Geneva

Geneva

Geneva is a city nestled between Lake Geneva and The Alps in Switzerland. Although most of the city is in Switzerland, due to the high cost of living in the city proper many people commute in from nearby France. Geneva is famous for being the location where the Geneva Conventions were signed, which govern the handling of prisoners of war. Geneva is also home to the headquarters of the International Committee of the Red Cross, and many United Nations departments are also based here.

8. Frankfurt

Frankfurt

Frankfurt is joint seventh most expensive city to live in along with Helsinki. Frankfurt is a city in Germany, and is located on the Main River.  It is the largest financial center of mainland Europe, and both the European and German central banks are located here, as well as the Frankfurt stock exchange which is one of the biggest in the world. All of this wealth leads to Frankfurt being the joint seventh most expensive city in the world to live in.

7. Helsinki

Helsinki

Helsinki is joint seventh most expensive along with Frankfurt. Helsinki is the capital city of Finland, and is located in the far south of the country next to the Gulf of Finland. Despite being at the south of Finland, it is still a very northerly city and so can get very cold in the winter. Helsinki has traditionally had a large shipbuilding industry and this continues to this day, although there are now also more hi-tech industries such as Nokia which is located just outside the city. Finland has a relatively high tax rate, and this combined with the large amount of wealth generated is probably what results in Helsinki having the joint seventh highest cost of living in the world.

6. Zurich

Zurich

City of Switzerland, Zurich comes sixth on the list of most expensive cities in the world. Zurich is to Switzerland like New York is to the USA, it is the commercial capital of the country but not the political one. Zurich is home to many top educational institutions, and this helps ensure that the top minds in Switzerland and further afield come to live in Zurich, and it is likely that many of these will spend at least some of their working lives here. The population of Zurich is very diverse, and this potentially explains why many international companies, such as IBM, Google and Microsoft have facilities here. All of these factors mean that Zurich has a very strong economy, and this results in the 6th highest cost of living worldwide.

5. Oslo

Oslo

The city with the fifth highest cost of living is the Norwegian capital city of Oslo. Oslo is Norway’s biggest city, both economically and by population. Norway is one of the most developed countries in the world, with a large income from a variety of sources. Norway has one of the highest average wages for a country in the world, and Oslo has an average even higher than this national average. Due to the high average wage, linked to the fact that many basic commodities such as many foodstuffs are imported, leads to an extremely high cost of living.  All of above factors combine to make Oslo the fifth most expensive city in the world in which to live.


4. Copenhagen

Copenhagen

The fourth most expensive city in the world in which to live. Like Helsinki and Oslo which also appear in the top 10 most expensive cities in terms of cost of living, it too is the capital city of a Scandinavian country. In Copenhagen’s case the country is Denmark, and like both Oslo and Helsinki, it is not only the political capital city but the dominant city in the country economically and culturally as well. Copenhagen is the location for many international head and regional offices, such as Maersk which has head offices in Copenhagen and Microsoft, for which Copenhagen provides the regional headquarters. Recently Copenhagen, and Denmark as a whole has seen massive growth, both domestically and internationally. For example, the largest wind turbine manufacturer, Vestas, is a Danish company.

3. Paris

Paris

Paris is the capital city of France, and comes in third on the list of most expensive cities in the world.  The central area of Paris, and the area with which this cost of living list deals with, refers solely to the city of Paris. Paris is famous for tourism, and whilst this generates a large amount of money for the local economy, it does lead to demands for less development of the older parts of the city.

2. Osaka-Kobe

Osaka-Kobe

The second highest cost of living is for two linked cities in Japan – Osaka and Kobe. As with many Japanese cities, both of these have an extremely high population density, which leads to expensive housing and other costs. Both cities are very large with populations in excess of 1 million.Mitsubishi, Mizuno, Panasonic, Sanyo and Sharp lies in these cities. There is also a relatively large financial industry in both cities, leading to high wages.

1. Tokyo

Tokyo

The Japanese capital city of Tokyo comes first on the list of most expensive cities to live in. In addition to being the top of the list of cities with the highest living costs, it is also the centre of the world’s largest metropolitan area by both population and economy. This is probably what makes it the most expensive city in the world in which to live. The Tokyo stock exchange is one of the world’s largest, and is the largest one in Japan. Many international companies are based in Tokyo, and yet more have regional offices in the city which leads to a lot of highly paid jobs.


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