Tags: singapore | most | expensive | city

Singapore Most Expensive City in the World: Economist Report

Image: Singapore Most Expensive City in the World: Economist Report

Tuesday, 04 Mar 2014 02:31 PM

By Michael Mullins

Singapore is the most expensive city in the world.

The designation comes from the Economist Intelligence Unit’s Cost of Living Survey, which was published Tuesday and reported that the Asian city-state had jumped five spots since the prior survey.

Urgent: Do You Approve Or Disapprove of President Obama's Job Performance? Vote Now in Urgent Poll

Singapore knocked Japan's capital Tokyo out of the top spot, according to the bi-annual report.

"Car costs have very high related certificate of entitlement fees attached to them, which makes Singapore significantly more expensive than any other location when it comes to running a car," the Economist's report says, according to CNN.

"In addition, as a city-state with very few natural resources to speak of, Singapore is reliant on other countries for energy and water supplies, making it the third most expensive destination for utility costs," the report continues.

The Worldwide Cost of Living survey compared 130 cities in nearly 90 countries, gathering detailed market information between June and December of 2013.

France's city of lights, Paris, is considered the second most expensive city to live in, while Norway's Oslo was third on the list. Zurich, Switzerland, and Sydney, Australia, rounded out the Top 5 most expensive cities in the world.

Asia is also home to the three least-expensive cities in the world. According to the survey, the Indian city of Mumbai is the least expensive city worldwide, while the nation's capital of New Delhi is third from the bottom.

"Although India has been tipped for future growth, much of this is driven by its large population and the untapped potential within the economy," the report says, according to CNN.

The Wall Street Journal reported that Karachi, the largest and most populous city in Pakistan, is sandwiched between Mumbai and New Delhi for the least expensive cities in the world.

Editor's Note: Do You Support Obamacare? Vote in Urgent National Poll

Related Stories:

© 2015 Newsmax. All rights reserved.

Around the Web
Join the Newsmax Community
Please review Community Guidelines before posting a comment.
>> Register to share your comments with the community.
>> Login if you are already a member.
blog comments powered by Disqus
Zip Code:
Privacy: We never share your email.
Hot Topics
Follow Newsmax
Like us
on Facebook
Follow us
on Twitter
Add us
on Google Plus
You May Also Like

Glassdoor: 25 Best Jobs in America for 2015 Topped by Tech, Healthcare

Wednesday, 28 Jan 2015 20:19 PM

Glassdoor has released its inaugural report 25 Best Jobs in America for 2015, and jobs in technology, healthcare, and pr . . .

Ludacris Custody Battle: Rapper Wins Full Custody of 13-Month-Old Cai

Wednesday, 28 Jan 2015 19:37 PM

In a custody battle for his daughter, rapper and actor Ludacris, whose real name is Chris Bridges, has been granted full . . .

Easter Island Mystery Solved? Research Suggests Cause of Demise

Wednesday, 28 Jan 2015 19:13 PM

New research is shedding light on the Easter Island mystery concerning what caused the downfall of the natives of the is . . .

Top Stories

Newsmax, Moneynews, Newsmax Health, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, and Newsmax World are trademarks of Newsmax Media, Inc.

America's News Page
©  Newsmax Media, Inc.
All Rights Reserved