The most expensive cities in the world

The Economist Intelligence Unit has just released the list for the most expensive cities to live in 2015. During the past years Tokyo had been number one in the rankings, but it looks like in 2015 Zurich, the largest city in Switzerland, has the honour of being the top of the list.

Zurich has moved up four places in comparison with last year. The city has always been considered as a safe haven for investors, and in the last year these have been moving their funds out of the Euro zone. Another Swiss city, Geneva, currently holds the third position.

Tokyo is now in second place on the list. Although the city has moved down a position, it still remains the most expensive city in Asia. Osaka and Singapore are the other two Asian cities on the top 10, in the fourth and ninth positions.

Five Australian cities are part of the top 20. Sydney and Melbourne are in the seventh and eighth places, followed by Perth (12^th), Brisbane (13^th) and Adelaide (17^th). Jon Copestake, editor of the Worldwide Cost of Living survey, ascribe this fact to exchange rates.

“Exchange rates have been the greatest influence for the Australian cost of living, with the Australian dollar seeing its value to the U.S. dollar double in a decade.”

Several European capitals are also on the first places of the list. Oslo holds the fifth place, followed by Paris in the sixth position. London remains in the same position as last year (17^th) and Madrid also occupies the same place (21^st).

Surprisingly the most expensive city in America is located in South America and not in North America. Sao Paulo is on the twenty-eighth position of the list while living in Vancouver (37^th) is more expensive than in Los Angeles (42^nd) or New York (47^th).

On the bottom part of the list Karachi in Pakistan is considered the least expensive city in the world.  Mumbai and New Delhi in India are also on the lowest positions followed by Tehran, Panama City or Algiers.

Have you lived in any of the most expensive cities of the world? Can you think of any other city that should be on the list? Share your thoughts with us in the comments section below.

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