Sure, it's a nice place to visit
but how can anybody afford to stay there?
Welcome to WatchMojo.com.
Here are our picks for the Top 10 Most Expensive Cities to Live In.
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For this list, we're taking a look at cities
with the highest living costs as of 2018
according to the Economist's annual report.
Thanks to landmarks like the Sydney Opera House
the capital of New South Wales generates $30 billion annually from tourism alone.
Considering how costly it is just to travel there
it shouldn't come as a surprise that
Sydney is Australia's most expensive city to live in.
Just to give you an idea of how pricey life in Sydney can be
a pair of jeans reportedly costs over $100 dollars on average.
At least Sydney workers receive one of the highest wage levels in the entire world.
They're pretty high up there in terms of purchasing power too
meaning many residents can afford to spend almost $20 on movie tickets.
Tel Aviv might only be the second most populous city in Israel
but it's #1 in terms of living expenses.
It's also the most expensive destination the whole Middle East has to offer.
On the worldwide cost of living chart,
Tel Aviv escalated from 34th place to the top 10 over the course of 5 years.
This is largely due to the cost of buying a car
to say nothing of insuring and maintaining it.
In terms of paying for transportation
Tel Aviv actually beat out New York by 79%.
As expensive as it may be, it's worth it for those
with an interest in history or nightlife.
Back in the 10th century, Copenhagen was a mere Viking fishing village.
Fast-forward to modern times and it's one of the most expensive cities in Europe.
Transport, personal care and recreation
are among the major contributing factors to Copenhagen's high cost of living.
While the gross wages are among the highest in the world
taxes take a significant toll following mandatory deduction.
That being said, the capital of Denmark is also often ranked
as one of the best cities to live in due to its quality of life.
We can certainly see why
given its education, social safety and beautiful scenery.
Within just a few years, the Seoul Special Metropolitan City
has skyrocketed up the cost of living chart.
Between 2013 and 2016,
it moved from 21st place to 15th place.
By 2017, South Korea's capital was one of the most expensive places
to purchase groceries, exceeding New York by 50%.
On a routine market trip, you could spend
roughly 4,000 ₩ on white rice,
3,000 ₩ on a dozen eggs,
and 9,000 ₩ on a gallon of milk.
You might actually be better off eating out!
Geneva is one of the most populous cities in Switzerland.
While wages are high and tax rates are surprisingly low
you'll still need a sizeable Swiss bank account to live there.
This can be primarily attributed
to the cost of insurance, groceries and various services.
Good luck trying pay for a two-bedroom apartment
with the monthly rent being between CHF 2,300 and 3,500
and that's not even including utilities!
Eating fast food won't save you much money either
with a Big Mac costing CHF 15.
Life in Geneva comes with a hefty price tag
even by the European average.
The capital of Norway, Oslo, has a booming economy
with the maritime sector hosting 980 companies and 8,500 employees.
Residents of Oslo are used to breaking out the big bucks.
A one-bedroom apartment close to the centre of the city
will cost you over 12,000 kr per month.
On top of that, utilities for an average apartment can cost nearly 1,600 kr.
A Big Mac from Geneva may sound pricey
but a McMeal from Oslo will also drain your wallet of around 110 kr.
If you think coffee is overpriced at your local Starbucks
in Hong Kong, a cappuccino costs almost 35 HK$.
Meanwhile, you can spend 50 HK$ on a pint of domestic beer
and 150 HK$ for a bottle of wine.
The price of consumer goods is one thing but the housing market is another.
Hong Kong has been cited as the most unaffordable city in the world to buy a house.
A three-bedroom home in the city is going to cost 40,000 HK$ per month.
Despite the high living rates, Hong Kong has also been regarded
as the freest economy in the world for over two decades.
Although Zürich is considered one of the globe's top financial centres
it's also one of the priciest in all of Europe.
Zürich even gives Geneva a run for its money
as the most expensive and largest city in Switzerland.
A gallon of gasoline costs just under 6 Fr.
As for taking a taxi, waiting in normal traffic for an hour can set you back 72 Fr.
In short, time is money in Zürich.
It's only natural with a quarter of the population
employed at banks and investment firms.
France's most populous city hosts numerous iconic landmarks
like Notre-Dame Cathedral, the Louvre, and the Eiffel Tower.
It would be a dream come true to live there for many people.
Once you receive your credit card bill in the mail
that dream will quickly turn into a nightmare.
Ever since 2003, Paris has easily reigned
as one of the most expensive cities in the world.
Being the home of world-class restaurants, fabulous shopping centres
and incredible sites, the astronomical living price makes perfect sense.
It's called the City of Light
but not for people who can't even afford their electric bill.
For five years in a row, Singapore has dominated
as the single costliest city to live in.
Granted, not every service will cost you an arm and a leg.
Healthcare and certain domestic goods are actually quite cheap
but owning a car will eat up a good chunk of your paycheck.
A new Volkswagen Golf comes with a sticker price of roughly around 120,000.00 S$.
Then to keep you gas tank full, be prepared to pay around 8 S$ per gallon.
Singapore is additionally the third most expensive place to purchase clothes
with a pair of Nike running shoes going for about 127 S$.
So whether you drive or run, you're spending a fortune!