Top 10 Most Expensive Cities
1. Caracas, Venezuela
Caracas is Venezuela's capital and the largest city of Venezuela. The cost of goods has increased exponentially as the economic and political situation has deteriorated and despite the plummeting value of the Bolivar, Caracas sits at the top of our cost of living rankings.
2. Zurich, Switzerland
Despite the low tax rates, Switzerland's largest city ranks eighth in the costliest places' list, chiefly due to the rapid appreciation of the Swiss franc and strong economic stability. Famous for the exquisite Swiss chocolate, exceptional clockworks, and numerous multinational finance institutions, such as the Credit Suisse and Swiss Re, Zurich stands as one of the locations with the highest quality of life and claims the richest urban centre title. As one may deduce, such standard does not come cheap.
3. Geneva, Switzerland
Located on the shores of Lake Geneva in Switzerland, the city of Geneva is considered the global centre of diplomacy. It is the office base of numerous agencies of international significance, such as the United Nations and the World Trade Organization, the Red Cross and the World Economic Forum. A quarter of the area of this picturesque urban giant is occupied by public parks, making it a popular choice for wealthy American retirees. Geneva is known for its refined cuisine and boasts more restaurants per capital than New York. The political importance, together with the population's high standard of life, place Geneva in the 6th spot of the chart.
4. Tokyo, Japan
The beating heart of the Land of the Rising Sun claims the costliest cities' No.1 spot for a consecutive year. The country owes its vast wealth to intense high-tech and industrial production, which continues to have a strong demand. As a global financial kernel, Tokyo is home to many of the largest investment banks and insurance companies, yet it is one of the greenest cities as well. Although the population exceeds 13 million, the area has the lowest carbon dioxide pollution in the Pacific. Limited living space, combined with high paid labour and strong development are the main reasons Tokyo is considered the most expensive to live in.
5. Luanda, Angola
Luanda, formerly named São Paulo da Assunção de Loanda, is the capital and largest city in Angola, and the country's most populous and important city.
6. Oslo, Norway
Whether it is the stable position of the krone against the dollar, or the sustainable growth during world financial crisis, the capital of Oslo remains in the list of most pricey locations on Earth for years. The city is a trading and commercial centre, a headquarters to the leading shipping and insurance companies, and home to one of the most effective public transportation systems in the world. All of these, however, take its toll - quite high expenses, where a quick lunch may come around $50.
7. Copenhagen, Denmark
According to the UBS, the citizens of the Denmark capital have amongst the highest wages in Europe. Such good remuneration inevitably calls for some lofty prices and a better quality of life in general. Copenhagen is an important centre for science and research, as well as the base of many multinational corporations, such as Microsoft. A blooming economy and lots of foreign investment are a key to aligning the city in the list of most pricy locations.
8. Beijing, China
Beijing is the capital of the most populous country on the planet with more than 21 million citizens. The metropolis is prominent with its innovative entrepreneurship and flourishing commerce. With the increasing advance of China, the city has become an investment target to many international venues, which are further attracted by the favourable foreign investment policy. At present, the turbulent progress and monetary inflows have made Beijing renowned for its overpriced products and services.
9. Frankfurt, Germany
Germany has often been referred to as the strongest European economy and its people have long been known for their high living standards and social policy, which have turned them in the biggest world travellers. The financial hub of the German wealth motor, Frankfurt is home to both the German and the European Central Banks, together with the German Stock Exchange. Such fiscal magnitude has rightfully won the city a spot amongst the costliest cities.
10. Singapore, Singapore
Situated in one of the busiest aquatic ways between Asia, Africa and Europe, the island-country of Singapore lines aside the top pricey cities for the very first time. The accommodating business climate, as well as the good strategic position lead to a thriving urban status.