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In 2024, Hong Kong was ranked to be the city with the highest cost of living in the world. High household averages were caused by high per capita income and periodic increases in expenditures over the past year because Hong Kong is an economic city with high potential and competitiveness in all dimensions, both in the public and private sectors, as a link between China and international trade, investment, and business opportunities. However, with limited land available and a strong economy, many people are competing to invest in business here.
Singapore is ranked as one of the most expensive cities to live in due to its unique economic and urban complexity. Singapore is located at the strategic location at the intersection of the world trade route and transportation and has become a thriving trade and financial center in the heart of Southeast Asia.
Singapore has developed a high level of infrastructure, education, career, and quality of life. Nevertheless, the small size of the country has led to a relentless increase in demand for real estate, resulting in higher property prices and rental rates.
Zurich is a city surrounded by beautiful scenery in Switzerland. It is not surprising that the environment of Zurich is clean and standardized. As a result, the cost of living here is high due to the strengthening of the Swiss franc, along with rising prices of groceries, household goods, and recreational equipment that is higher due to the currency appreciation.
The city’s strong economy, buoyed by its strong currency and a stable political environment, has consistently attracted wealthy people, driving demand for premium properties and luxury goods.
Geneva is Switzerland’s second most populous city after its neighboring city, Zurich. This is an international hub on the coast of Lake Geneva. The city is known for its diplomatic significance to the UN, the headquarters of the United Nations of Europe.
It is also a fortress city of high-level life and has long been a magnet to attract those with high net worth and good fiscal policy. However, this influx has intensified competition in housing and services, and in the future, has also improved.
Basel is ranked fifth. The city has high economic and technological growth, resulting in higher housing and living expenses, as well as higher costs of food and appliances. With urban or local environments amid a rich variety of areas, the city has a strong currency in Switzerland, making the costs of living here as high as the second rank cities with the highest costs of living in the same country.
According to a survey of the world’s most expensive cities to live in 2024, regional financial centers such as Hong Kong still rank as the city with the highest costs of living, followed by Singapore and Zurich, Switzerland.
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