Which Cities Have Become the Most Expensive to Live in This Year

Singapore and Zurich have overtaken New York City and have become the most expensive cities in the world to live in this year, according to Bloomberg.

Last year, Singapore shared the top spot with New York due to high vehicle costs, expensive alcohol, and rising food prices. Zurich climbed from sixth place to the first position this year thanks to the strong Swiss franc, as well as the high costs of food, household goods, and leisure activities.

New York follows in the ranking, along with Geneva and Hong Kong. Overall, global prices in local currencies have risen by an average of 7.4%, slightly lower than last year's increase of 8.1%. The top ten also includes Los Angeles, Paris, Copenhagen, Tel Aviv, and San Francisco.