From 2023 onwards, Mercer conducted a comprehensive analysis comparing housing, transportation, food, clothing and other expenses, making it easier to identify the cities with the highest cost of living. Paris, Shanghai and Boston are well-known, but more expensive cities; Visiting these places provides a great opportunity to explore architecture, museums, cuisine and culture. If you’re looking for an exciting vacation or are simply curious, check out Mercer’s list of the world’s most expensive cities.
1) Geneva, Switzerland
Geneva is known for its world-famous Jet d’Eau fountain and high-class restaurants and shops; Experts estimate that the average monthly cost of living for a person in Geneva for rent, food, transportation and accommodation is around $3,500 USD.
2) Los Angeles, California
Residents of Los Angeles, California, Hollywood have to pay exorbitant sums to enjoy a luxurious lifestyle. Los Angeles has tremendous power over the real estate market, as its population of nearly 10 million is heavily influenced by the city. Los Angeles also faces high taxes for residents, as well as an 8.5% sales tax rate, making it expensive to live there – as of January 2020, the rate was nearly double the national rate for renting an apartment for rental purposes.
3) Bangui, Central African Republic
Bangui is located in the Central African Republic.
Bangui is a city in Central Africa that has become an important trading center due to its port and links with other countries. Although housing is not cheap, basic services such as internet access, mobile phones, furniture and appliances are much more expensive than average.
4) Hong Kong, China
The main factor contributing to the high cost of living in Hong Kong is its dense population. Rent is only part of it; Intense competition for housing units, as well as its many attractions such as bustling markets and vibrant nightlife, contribute significantly to this.
5) Brussels, Belgium
Brussels, Belgium. Brussels is an ancient and prestigious European capital as well as its center. Since it is located in the Brussels metropolitan area, the estimated monthly cost for four people to live here would be $3,055.
6) Yokohama, Japan
Yokohama is one of the most expensive cities in the world, with an average cost of living of US$14,886 per month. Tourists come here for attractions such as the Senken Garden and the Yokohama Tower Sky Garden; In addition, food is widely available and bar visits cost around $112 per day.
7) Tokyo, Japan
Tokyo is an extremely busy city that is consistently ranked among the most expensive cities in the world. Its residents not only have to pay expensive rent, but also have to bear the cost of owning a car and using public transport – Japan is generally known for its high cost of living.
8) Milan, Italy
Milan is an economic hub and one of the 10 most expensive cities in Europe to live in, making it a profitable area to live in due to its excellent fashion industry and excellent medical facilities. Furthermore, the city ranks high on the list of cost of living as well as quality of life due to its excellent safety and tourist appeal.
9) Singapore, Singapore
Since 2014, the Economist Intelligence Unit’s World Cost of Living Survey has consistently ranked Singapore first in the cost of living rankings. Due to limited land resources and low population density, real estate markets in Singapore remain highly competitive. An island nation with no natural resources of its own, Singapore relies heavily on water and natural gas imported from nearby ports to generate electricity.
10) Brussels, Belgium
Brussels, Belgium. Brussels is known for its rich past and the seat of the European Union, making it the most populous city in the Brussels metropolitan area, and rent for a family of four costs around $3,055, not including rent.