This video is closed-captioned in English and Spanish subtitles
Things have become expensive all over the world, but the cities we are going to discuss
with you today have the honor of being named the most expensive in the world. The ranking
often fluctuates, but these cities have managed to retain their position for an astonishingly
long amount of time. So, let us take a look at the ten most expensive cities in the world.
If you enjoy our videos Join us on our journey around the world by subscribing
to our channel please click the bell icon to get notified when we publish a new video
#1. Hong Kong Hong Kong is the special administrative
region of China located to the east of the Pearl River. This city is famous for its towering
skyscrapers and longest-covered escalators. Here you'll find country parks and nature reserves
because they cover 40% of the territory. When you look into the list of 2020 global billionaires,
you'll find out that about 96 residents of Hong Kong are said to hold personal fortunes of US$1
billion or over. It is believed that Hong Kong has a high cost of living. The average price of
a house in Hong Kong is more than 10 million hong Kong dollars. When it comes to property,
you'll see people lined up to pay the highest prices in the world for the property around $25000
per square meter. This huge demand for property leads to new levels of unaffordability.
However, to overcome this, Hong Kong's man-made islands steal the limelight.
There are around 263 islands in Hong Kong, and only a few are accessible by ferries.
#2. Zurich, Switzerland The city of Zurich lies at the
north end of Lake Zurich in northern Switzerland. It is known for its international banking and
finance institutions. If finance is your field of interest, then Zurich is a perfect place for you.
This city is the center of the German-speaking part of Switzerland. Apart from its medieval
history, the real question is "what makes Zurich an expensive city?". One cannot deny
the fact that the salaries in Zurich are among the highest in Switzerland. Unfortunately,
groceries, rent, clothing, restaurants, and transportation takes the biggest chunk out
of the household budget. If you ever plan on living in Zurich, you might prefer cooking
at home because ordering only a Panini at some restaurant can simply cost you $18.
Moreover, Zurich's Bahnhofstrasse shopping street will amaze you with luxury shops, but you
may need a bank loan if you are hoping to make a purchase. This street is either for the super-rich
or ordinary folk making a one-off special (and extravagant) purchase. Prices for real estate
here start at $10.000 per square meter so all in all, it is a very expensive city to live in.
#3. Paris, France Known as the city of
lights or the city of love, the streets of Paris overflow with its café culture,
arts, designer boutiques, and gastronomy. Paris is the capital of France and is crisscrossed by wide
boulevards and river Seine. Originally, Paris was a roman city called "lutecia." Many of you
must have dreamed of being proposed at the Eiffel Tower or visiting the famous statue of liberty,
but tourism in Paris can be very expensive. According to EIU, Paris has been ranked as the
seventh most costly city globally, which is well above London. If expensive living is your thing,
then Paris is a perfect place for you. Paris is considered a fashion hub as it has attracted the
world's foremost designers and has imbued its citizens with an innate sense of style. It is
costly in terms of clothes, entertainment, and a basket of goods. The possible reason for this can
be high wages and quality of products. This means that citizens of Paris have high purchasing power,
which results in high real estate prices around $15.000 per square meter in the city of lights.
#4. New York, USA New York is one of the world's most populous
megacities, sometimes shortened as NYC. New York, unlike other cities, is known as the world's
cultural, financial, and media hub. It is made up of five boroughs: Brooklyn, Queens, Manhattan,
the Bronx, and Staten Island, and is located on the world's largest natural harbor. However,
this vast territory has been labeled as one of the world's most costly cities. According to studies,
an annual salary of $85,656.60 is required to live comfortably in New York City. Citizens spend
approximately half of their salary on required expenses. Can you believe that New York City
has 105 billionaires, more than nearly any other country on the planet? It's no surprise that Ralph
Waldo described New York as "sucked orange." Every person desires to buy a new home, yet renting a
two-bedroom apartment in New York costs around $3500. This rent is equivalent to 82 percent
of the median American wage. Furthermore, private preschools and kindergartens in New York City can
cost up to $50,000 per year, more than certain Ivy League institutions' annual tuition.
#5. Tokyo, Japan Tokyo is one of the most expensive
cities in the world, in addition to being modern and strange. With nearly 36 million people,
it is one of the world's most populous cities. From neon-lit skyscrapers to historic temples,
Tokyo combines the ultramodern and the traditional. Edo was the name given to Tokyo in
the twentieth century. The name was then changed to Tokyo as a result of the Meiji restoration.
When traveling abroad, it's always a good idea to have a rough idea of how much money you'll need
to spend while you're there - and Japan is no different. Tokyo offers some of the cheapest
local food in the world, yet it also has the world's best restaurants. Lunch in Tokyo can set
you back around 1000 yen ($9). The import quota is extremely high because Tokyo is known for its
technology and product quality. As a result, the country's inflation rate rises. Clothing is more
expensive and is tailored to Japanese norms. Furthermore, obtaining any type of lodging in
Japan can be extremely expensive around $17000 per square meter for a house. Foreigner schools
are also pricey. #6. Singapore
Have you ever found yourself in a scenario where your wallet is full of cash one minute
and then full of receipts the next? This is, after all, what the majority of Singaporeans
go through. Singapore is a sovereign island city-state in Southeast Asia's maritime region.
According to legend, this city is a vision of green hills and scarlet dust.
Singapore is reliant on its neighbors for food because it lacks land, which means there is no
agriculture. Importation inevitably leads to increased retail costs. As a result,
the average expense for a single individual in Singapore, excluding rent, is roughly 800 SGD.
Children of ex-pats in Singapore are frequently sent to international schools,
which further drives up costs. The lack of space also means that properties are really expensive
around $14500 per square meter. #7. Shanghai, China
China is poised to become the world's largest economy by 2028, but one of its towns has
already become the global economic center. Shanghai has climbed the ranks to become one
of the world's most expensive cities. Shanghai has such a high degree of wealth that private
purchases are more expensive than anywhere else on the planet. One of the most fundamental
reasons for the increase in spending is that Shanghai residents are now much wealthier. The
city has the sixth-highest concentration of billionaires, with 18 billionaires
last year. Even the pandemic contributed to their wealth as pharmaceutical companies saw
their profits skyrocket. Buying property here will set you back around $13.000 per square meter.
#8. Los Angeles, USA Los Angeles, the second-largest metropolis
in the United States, draws people from all over the globe. LA is a magnet for aspiring actors,
directors, producers, and screenwriters since it is a vibrant center for the multi-billion-dollar
film business or Hollywood as it is popularly known. Furthermore, the City of Angles is one
of the world's most populous and expensive cities. It is well titled because no ordinary person can
afford to live comfortably here. A two-room apartment in Los Angeles costs roughly $2250
per month on average. If you consider yourself wealthy and want to buy a home in Los Angeles, the
cost will be roughly $800k upwards. Living in a city full of movie stars is going to be expensive;
their presence drives up prices of everything from utilities to food and transport costs.
#9. Tel Aviv, Israel The cost of living in Israel cannot be compared
to that of its Middle Eastern counterparts; it is more comparable to that of Israel's Western peers.
Israel's overall cost of living is greater than that of the majority of OECD (Organization for
Economic Cooperation and Development) countries. A three-room flat in Tel Aviv costs roughly $5500
per month to rent. If you wish to pursue higher education in private institutions or overseas
colleges, it is also quite costly. The government subsidizes free public education from preschool
to grade 12 at the most basic level. Within the city, utility and food costs are also very high.
Local transportation within the city is also quite costly, Buying a property will set you back around
$12.000 per square meter So, while you're there, have your checkbook handy; the trip isn't going
to be inexpensive. #10. Osaka, Japan
Osaka is Japan's second-largest city after Tokyo; it's only a short train trip away
from the capital, but the city's feel and intensity are significantly different from
Tokyo's. The average monthly salary of $2400 is insufficient to cover all expenses; the rent for
a two-bedroom apartment is well above $1000, not including other costs such as utilities.
A one-bedroom apartment in the city center costs $7100 per square meter, and monthly school tuition
for one child is around $5200, but if you want to be fancy, the charge for an international
primary school costs around $9,500 per year. we hope you enjoyed this video which city would
you like to visit from the list let us know in the comments section below the video and if you liked
the video be sure to subscribe and turn on the bell notifications so you will be the first to
know when we publish a new video thanks for watching