-
Singapore Tops The List Of Most Expensive Cities In The World
Singapore is one of the most beautiful and modern cities in the world with breathtaking man made attractions. If you are dreaming of moving to Singapore then it is essential to know the cost of living in the country. As per the latest research by the Economist Intelligence Unit (EIU), Singapore ranks as the most expensive city in the world, followed by Paris, Oslo, Zurich and Sydney.
The survey that was carried out by Economist Intelligence Unit took into account 133 cities across the world, and they used New York as the yardstick for determining which city is more expensive or cheap. When creating the list of most expensive cities worldwide, some of the main factors that were considered for comparison include clothing, food, and utility bills.
What Makes Singapore More Expensive Than Nyc?
We all know Singapore as the land of expensive luxury malls, high end stores, stunning skyscrapers and fantastic transportation facilities. The cost of living in Singapore is triple when compared to New York, and as per EIU’s report the city ranks as the costliest place to stay in the world. The cost has been compared based on around 160 different services and products such as clothing, food, and utility bills.
When it comes to buying basic groceries, Singapore is 11 percent more expensive than New York. In terms of clothing, the city is one of the most expensive along with seoul. The prices are nearly fifty percent higher than NYC.
Furthermore, the complicated Certificate of Entitlement system makes purchasing a car more expensive in Singapore. On top of that the transportation costs are three times more than NYC.
How Much Would You Pay For Wine, Bread Or Cigarettes?
In Singapore, a bottle of wine may cost you about $25 whereas you can get the same bottle for just $4 in Bucharest. Also, when it comes to cigarettes, you can expect to pay more than what you would rather pay in other affordable cities in the world. A loaf of bread will also cost you about three times more in Singapore.
Who Can Benefit From This Report?
The information provided in this report can be used by expatriates and travelers planning to stay here for business or leisure. If you are planning to move to Singapore then it is important that you take the high cost of living into account. From buying a breakfast to purchasing a car, expect to pay more in everything you do in this city. If you have a family with kids then you might even want to consider the school and college fees in Singapore.
Travelers visiting Singapore for business or leisure purposes will also benefit from this report. The cost of accommodation in the city is comparatively higher than other cities in the world, so be prepared for the travelling budget to exceed its limit if you are not prepared. Proper planning and making advance online bookings can help you reduce your vacation cost and also minimize the impact of high expenses in the city.
