There are thousands of cities around the world. They vary in size, population and economy. Similarly, they all differ in prices of goods and services. Some cities have reasonable prices while some may seem very expensive. Usually this is balanced out by the income earned. Generally, when people have high income, they can afford many goods and services which in turn increases demand and price. Here’s a list of the world’s most expensive cities.
Singapore is considered to be the most expensive city to live in. Singapore is a global financial center and is considered to be a highly developed city. Due to its small size, the city has been able to grow considerably. Singapore lacks any natural resources and yet was able to grow due to their external trade and workforce. Singapore is ranked highly among healthcare, education, quality of life, personal safety and quality of life. Currently Singapore has around 5.6 million population. Further Singapore has one of the lowest unemployment rates meaning people are able to afford goods and services despite the high prices. For a foreigner thing may seem more expensive than usual. For example, those who wish to do pool resurfacing or any other service may seem very expensive than a local.
HK is among the most densely populated territories. Due to the high number of people and the demand, the prices in Hong Kong are extremely high. Even though Hong Kong is under China, it maintains the “One country, two systems” policy which allows Hong Kong to maintain a separate political and economic system from China. HK is among the most important financial centers in the world. Even though Hong Kong has one of the peak per capita income, it undergoes from critical income disparity. While one part of Hong Kong can afford multiple pool renovations from Brisbane and buildings, the other can’t afford to pay their rent and bills. Income inequality is a large problem that has planned to be tackled.
Zurich is a city in Switzerland. German is the official language of Zurich and it is also the largest city in Switzerland. Despite the small population, Zurich has some of the largest financial centers in the world. Zurich has been constantly ranked as the best city to live in the world in many researches and studies. This is due to their high quality of life and being the wealthiest city in Europe. Due to the high income earned by the citizens, they are better able to afford goods and services, which is considered to be expensive to many foreigners. Foreign investment is popular in Zurich due to their low tax rates.