Singapore slipped down from joint top spot.
A study from Economist Intelligence Unit (EIU) has named Singapore as the world’s fourth most expensive city to live in.
It is the first study carried out since the pandemic gripped the entire world earlier this year. The previous study had listed Singapore as the joint costliest city in the world.
Now, the joint-leaders are Zurich, Paris and Hong Kong, with Singapore following behind. The rest of the top ten is made up by Tel Aviv and Osaka (joint 5th), Geneva and New York City (joint 7th), plus Copenhagen and Los Angeles (joint 9th).
The EIU says an exodus of foreign workers can explain the drop in Singapore’s position, which has seen the population decrease for the first time in seventeen years.
EIU ranks 133 global cities by comparing the price of a basket of 138 everyday items. There has been many changes in the rankings from the previous study, due to the differing impacts of Covid-19 on markets.