Singapore: The Most Expensive City in the World For Second Year
It is a surprise for you that Singapore has been named the most expensive city in the world for the second time in a row?
Singapore is located in Southeast Asia; the country’s population of more than 5.5 million citizens generates an income of $339 billion.
A study conducted by the Economist Intelligence Unit (EIU) resulted that Singapore is again the most expensive city.
(The Economist Intelligence Unit (EIU) is an independent business within The Economist Group providing forecasting and advisory services through research and analysis)
They also mentioned that is “relatively rare” to have the same city as the wealthiest, two years in a row.
The cities that follow Singapore are Paris, Oslo, Zurich and Sydney.
The EIU’s Worldwide Cost of Living report includes 133 cities worldwide, using New York’s prices as a base. The list compares prices of products and services like food, drinks, clothing, rent and transport.
The cosmopolitan city-state is one of the most densely populated areas in the world, but it’s also one of the wealthiest, with about 105,000 millionaires living there – and that means that it has prices to match.
The city is helped by the richest people that live in it. But also due to the grocery prices that are 11% higher than New York and clothing is 50% more expensive.
The utility costs are high as Singapore is a city of limited resources and is quite heavily dependent on other countries for energy and water.
Transport cost in Singapore is triple of those in New York. Something as simple as a loaf of bread, a bottle of wine and a pack of cigarettes would cost $39.11 in Singapore.
Even though Singapore is the most expensive city, it has a lot to offer by its nighclubs, restaurants, and places to have a drink.
Their Pangea Club is one of the richest nightclubs in the world. The interior of the club is amazing and it should definitely be on your to go places.
However, the city is famous for its inexpensive street food, driving in a rental car or riding the cleanest metro systems in the world.
There are also dozens of free parks to enjoy long walks, which is why Singapore is called the “garden city”.
Check out other subjects with the same theme: Singapore.
Now that the most expensive city in the world has been unveiled, what do you think about Singapore? Have you ever visited? You wish you could?
|pics via: internshipinasia.com & wikipedia.org & digitaljournal.com |