Every year, The Economist publishes a list of the most expensive cities in the world, and the 2023 rankings are in. To determine which metropolises will snag a spot, the publication looks at the cost of living index, which compares prices of hundreds of products and services in 172 cities around the globe. In addition to looking at how different locales ranked against each other, The Economist’s data found that inflation remains extremely high across the board, with the cost of goods and services rising on average by 7.4%.
Depending on who you ask, living in one of the world’s most expensive cities is either a blessing or a curse. With a few notable changes from last year, the list spans Asia, Europe, the Middle East, and the US. Below, see the full list and the factors that contributed to each area’s high cost of living—from local taxes and currency exchange rates to pricey real estate markets.
1. Zurich (tie with Singapore)
Two locales shared the title of this year’s most expensive city: Zurich and Singapore. For Switzerland’s largest city, the strength of the Swiss franc was a significant factor in pushing it up the charts.
2. Singapore (tie with Zurich)
