These are the most expensive cities in the world

Paris and Hong Kong have joined Singapore as the most expensive cities to live in, according to a survey by the Economic Intelligence Unit (EIU).

Singapore has topped the list for years and this is the first time that Hong Kong and Paris, so far in the second and the third places, are matching it.

The EIU publishes the list each six months, comparing the prices of 160 products and services, such as food, housing, transport, in more than 130 cities in the world.

Paris is the only capital from within the Euro area to place in the top 10.

The three most expensive cities are followed by Zurich, Osaka, Geneva, Seoul, Copenhagen, New York, Los Angeles and Tel Aviv.

The EIU explains that the order is influenced by inflation, devaluation and global unrest.

Caracas, the capital of the turbulent Venezuela, has dethroned Damascus as the least expensive city in the world.

The survey primarily serves as an aid to companies to calculate the living costs, and with that the salaries and bonuses they can pay their employees abroad.

Economic Intelligence Unit

most expensive cities in the world

least expensive cities in the world