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Singapore Is Named The 2nd Most Expensive City To Live Globally

Megan Zara Walsh Megan Zara Walsh - Staff Writer

Singapore Is Named The 2nd Most Expensive City To Live Globally

On December 1, the Economist Intelligence Unit (EIU) released their Worldwide Cost Of Living 2021┬áreport. It ranks Singapore as the world’s 2nd-most expensive city to live in during 2021.

Surprisingly, Tel Aviv in Israel was awarded the most expensive city to live globally, beating out Hong Kong, which previously took first place.

EIU Report Expensive Cities Singapore
Photo Credit: Unsplash in Tel Aviv

Equally, Singapore overtakes Hong Kong as the most expensive city to live in Asia. Due to COVID-19, personal care, clothing and other expenses decreased in Hong Kong. Indeed, this has effected results.

Currently, Singapore ties with Paris for second place. While, Zurich in Switzerland takes fourth place, and Hong Kong fell to fifth. Shockingly, cities such as New York and Los Angeles didn’t make the top five. Interestingly, Dubai and London, which are known for high expense, didn’t even make the top ten.

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Data for the report consisted of comparisons in food, clothing, household items, transport cost, recreation activities, and more in 173 cities. Certainly, COVID-19 impacted results with economies frequently being affected by restrictions.

The cheapest cities are mainly in Africa, the Middle East and poorer parts of Asia. For instance, Damascus in Syria remains the cheapest city to live in globally.

Indeed, essentials like groceries are inexpensive in Singapore. However, the rising population, high price inflation and other factors contributed to Singapore’s climb on the report.

Enjoying Secret Singapore? Check out The Best Things To Do This Month In Singapore.

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