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Hong Kong night skyline. Photo by Base64-

10 Most Expensive Cities in the World

Global mobility company ECA International compiles the most expensive cities in the world. They look into the money-hungry, capital that dominates the global economy.

Cities are ranked across a key number of factors such as the price of staples like rent, public transit, cooking oil and the strength of the local currency. It also focuses on foreign workers and expats in their ranking.

ECA Institution isn’t the only company that ranks the world’s most expensive cities but also Economist Intelligence Unit (EIU).

As of 2022 ECA International  list of the 10 most expensive cities worldwide is as follows.

1. Hong Kong

Hong Kong is a city in the special administrative region of China on the eastern Pearl River Delta in south China. It has a population of 7.5 million in a 1,114 square kilometers  territory and is the most densely populated place in the world.

The city is a key global financial centre and one of the most developed cities in the world. Hong Kong maintains a separate governing and economic system from mainland China under the principle “One country, two systems”.

Hong Kong is known for attracting some of the world’s most successful and wealthy business people, with thousands of expats drawn to the city.

According to the ECA index, the city has claimed the honour of being the world’s priciest city three times in a row. It has the largest number of skyscrapers of any city in the world, with residents with the highest life expectations.

2. New York, United States

New York, often referred to as New York City, is the most populous and densely populated in the United States. It has a population of 8.8 million (2020) distributed over an area of 783.8 square kilometers.

According to ECA International, New York is the land of opportunities which attracts hordes of people from the U.S and the rest of the world.

Due to all this, it’s no surprise that it’s such an expensive city to live in and everyone wants to have a New York experience. It is the most photographed city in the world.

New York is home to United Nations headquarter, an important centre of international diplomacy, a haven for global investors and sometimes described as the world’s capital.

3. Geneva, Switzerland

Geneva. Photo by fr:Utilisateur:Ork.ch-

Geneva is the second most populous city in Switzerland, with a population of 201,818 (2019) in 16 square kilometers. It is located southwest of the country where the Rhone exits Lake Geneva.

Geneva is the top entry of Europe and has epitomised all things class and luxury. Geneva is known for enabling the most lavish lifestyles with the finest restaurants, social scenes and state-of-the-art homes.

While walking down Geneva streets and going into one of the grocery stores, you will be left with no question as to why it’s one of the most expensive cities to live in.

4. London, United Kingdom

London is the capital and largest city o England and the United Kingdom, with a population of 8.982 million in an area of 1,572 square kilometers. Its GDP makes it the biggest urban economy in Europe and one of the major financial centres in the world.

It is the city of dreams over the years, London has made a name for itself as the fourth most expensive city in the world. Plenty of people folk here with the hopes to establish a career, enjoy London life which looks nice and find fame.

Prices of rent and public transport in London are the most expensive in the world. Therefore, you need a lot of cash to establish your life here.

5. Tokyo, Japan

Photo by Kakidai-

Tokyo is the capital and largest city of Japan. It has an estimated population of 13.96 million (2021) with an area of 13,452 square kilometres. Tokyo is the political and economic centre of the country as well as the seat of the Emperor of Japan and the national government.

Tokyo is the most densely populated and expensive city in Japan’s capital. Japan is known for its high cost of living and with Tokyo the capital, it’s no surprise why the cost is the highest in the busy city.

The cost taking up the largest chunk of expense include rent, car ownership and transport. All the speedy bullet trains come with a lot of costs.

6. Tel Aviv, Israel

Tel Aviv is on the Israel Mediterranean coastline with a population of 435,855 (2016), covering an area of 52 square kilometers. The city was founded in 1909 and it’s now 133 years old.

It has the largest economy per capita in the Middle East. Currently, it has the highest cost of ling, making it the most expensive city to live in.

Tel Aviv is a hub for all things luxury and royalty, which contributes to the highest cost of living and can also 

be credited to the appreciation of the Israel currency, the Shekel.

7. Zurich, Switzerland

Zurich is the largest city in Switzerland and the capital of the canton of Zurich. It has a population of 402,762 (2017), covering 87.88 square kilometers.

The city is a global centre for banking and finance, which is why it is referred to as the most expensive city in the world.

The city attracts some of the most boujee and rich people solely because of the city’s classy vibe, luxurious lifestyles, high-end shopping and fancy chocolates.

Zurich has some of the highest salaries in the world, and all this can be credited to all those big banks headquartered here.

8. Shanghai, China 

Four-segment panorama of Pudong, Shanghai, China. Photo by Kings of Hearts-

Shanghai is one of the four direct admitted municipalities with a population of 26.32 million (2019), covering an area of 6,340 square kilometers.

The city of Shanghai is a global centre for finance and innovation, a national centre for trade, commerce and transportation with the world’s busiest container port Shanghai.

Shanghai is expensive because of the high prices of products, higher inflation rates and continued strength of the Chinese Yuan against other major currencies.

9. Guangzhou, China

Guangzhou is the main manufacturing hub of the Pearl River Delta, one of mainland China’s leading commercial and manufacturing. It has a population of 15.31 million (2019) and covers 7,434 square kilometers.

The city is similar to that of shanghai hence making it expensive. At the same time, the city is lesser known from an expat perspective, the strength of the currency and inflation along high cost that comes with living in a high-population nation.

10. Seoul, Korea

Seoul is the city of South Korea with a population of 9.776 million (2017) and covers an area of 605.2 square kilometers.

The city is expensive largely due to the high housing cost and security deposits people put down. The Korean currency tends to perform well due to the stability and growth of the economy in the Republic of Korea contributes to its being expensive.

Seoul is one of the world’s largest automobile producers and shipbuilders and is home to many large construction companies which bring large revenue.