Singapore Named Fifth Most Expensive City Globally

The Global Wealth and Lifestyle Report 2022 has named Singapore the fifth most expensive city on the planet.

The report crafted by Swiss Private Bank Julius Baer included 24 cities worldwide but excluded Moscow for 2022. Interestingly, most cities in Asia reign on the top 10. As life continues to become more expensive after the pandemic, it’s not surprising that some of these cities have shot up the list. For instance, China’s Shanghai remained at first place again, while Taipei stole third place and Hong Kong jumped to forth.

Although, cities such as Bangkok and Tokyo fell down the list for expensiveness.

Here are the top 10 most expensive cities globally for 2022:

1. Shanghai

2. London

3. Taipei

4. Hong Kong

5. Singapore

6. Monaco

7. Zurich

8. Tokyo

9. Sydney

10. Paris 

Additionally, the report also ranked cities according to luxurious items such as cars. Singapore was listed as the most expensive for cars. While degustation dining in Singapore is the third most expensive globally and whisky is the fifth most costly.

Indeed, inflation and the rising population along with other uncertainties due to COVID-19 are to blame for the Singapore climb on the report as an expensive city.