There are many countries, some are developed and the rest are developing. The factors which determine the growth are the standard of living, to have health care facilities, a high percentage of literacy rate, and a decent lifestyle. Out of 195 countries, Bermuda is one of the most expensive countries to live in. Apart from nations, some cities can empty your pockets. There are few cities where living an ordinary life can cost a lot. Before shifting to these cities, make sure you know how extortionate they are! The most expensive cities in the world are determined based on the survey that studies the rent, utilities, transportation, cooking oil, milk, staple foods, and the power of the currency.
The Top Ten Most Expensive Cities In The World
Seoul, the capital of South Korea, ranks as the tenth most expensive city. Guangzhou is the ninth most expensive city in the world. This is an important seaport in China. The eighth most expensive city is again from Asia, it is Shanghai. Zurich is known for its high-end brands, lavish lifestyle, and tasty chocolates. It ranks seventh among the most expensive cities. Tel Aviv is a city situated on the coast of the Mediterranean sea, ranks sixth because of its world-class lifestyle. Tokyo is the capital of the techno-savvy nation, Japan. This city ranks fifth most expensive city. The capital of England, London which famous for architecture, education, and lifestyle. It ranks the fourth most expensive city to live in. The third most expensive city in Switzerland is the global city, Geneva. New York is the second most expensive city in the world. And the city which ranks first twice in a row in Hong Kong.
Read further to know why cities are so expensive.
Why are cities so expensive?
The infrastructure, security, and transportation make an urban area well-developed in any sector. Cities are better because they have job opportunities and educational facilities. Major cities have a large population to fulfill their wants and needs, which increases the demand in the market. The pandemic and Russia’s war against Ukraine have increased the inflation rate in the global market.
What are the benefits of living in an expensive city?
Though living in an expensive city is not easy. The facilities these cities provide, make you experience life like an elite. The expensive cities are a global community, and you will have the world around you. In such cities, there is an increase in professional opportunities. Due to the high cost of living, the income for your desired job is likely to be high. Access to the best becomes easy because of high-quality restaurants, shops, cafes, clubs, sports, music acts, and other entertainment factors. Even the transport facilities which cities provide can ease up your life. These cities are expensive for a reason, whether it is heaven for the tech industry or a fashion hub.
What are the least expensive places to live in 2022?
Cambodia is a Southeast Asian country with the capital city of Phnom Penh. Friendly locals, warm weather, a clean place, and cheap beer. The monthly cost of living in Cambodia can approximately be $1,150.
Bolivia is a country in South America and is one of the best attractions for planning retirement. It is a safe nation with the lowest cost of living. The monthly cost of living in Bolivia can be around $1,500.
Vietnam is a country with beautiful sceneries, warm locals, and rich culture. This Asian country is famous for its cuisine and healthy lifestyle. The monthly expense of living in Vietnam can range from around $899 to $1,400. Visa for Vietnam is also inexpensive.
Bali is an Indonesian island. This island has picturesque beaches, friendly locals, a beautiful climate, and an affordable lifestyle. The Czech Republic is a European country where living is economical, with a global community, a low crime rate, and precious history.
Albania is a European country with landscapes, a warm climate, and a cost-effective lifestyle. Central American country Costa Rica is perfect heaven on Earth. Beaches, friendly locals, and nature teaches everyone to live life to the fullest. These countries are affordable and safe, and Mexico, Bulgaria, Panama, Malaysia, Portugal, and Thailand are also economical and safe.
Conclusion:
The expensive cities are termed expensive because of their cost of living, facilities provided, and the space this city gives you. The major expensive cities are mainly in the continent of Asia. Hong Kong is considered the most expensive city. Cities like Shanghai, Tokyo, Geneva, Zurich, Seoul, London, Guangzhou, Tel Aviv, and New York. The expensive cities provide job opportunities, educational facilities, a high standard of living, access to the global community, transportation, and entertainment programs. Though, some countries are affordable and safe. These countries are best for retirement life. Bali, Albania, Costa Rica, Malaysia, Thailand, Panama, Bulgaria, Mexico, Czech Republic, Vietnam, Cambodia, and Bolivia. These countries are welcoming, have a great climate, and have beautiful sceneries.
Frequently Asked Questions:
- Which is the most expensive city to live in?
Hong Kong is a dominating city it holds the title of the most expensive city to live in. 1 USD is 7.8 HK$ in Hong Kong.
- Why are these cities expensive?
These cities have a well-built global community. These expensive cities provide educational facilities, job opportunities, simple transportation, a high-end lifestyle, infrastructure, and security.
