New York: Singapore is retained its global ranking as the most expensive city in the world.
This unique research output is from the Economist Intelligence Unit (EIU).
According to them the global ranking of the remaining four most expensive cities in the world are also found unchanged from a year earlier and in descending order they are, Paris, Oslo, Zurich and Sydney.
As per the reports, EIU has conducted surveys on 133 cities globally, considering New York as the basic city.
The survey was by comparing the cost of more than 160 services as well as products including food, clothing and utility bills.
Singapore was found to be 11% more expensive than New York for basic consumer goods.
Together with Seoul, EIU has found Singapore to be the most expensive place in the world for clothing.
When compared, the prices of the various textile goods were 50% more in Singapore than in New York.
Regarding transport services, Singaporean transport costs almost three times higher than the same in New York.
The most notable thing is Singapore’s complex Certificate of Entitlement system which has pointed out car prices as excessive.
The information collected to conduct the survey is being well designed to use on-line as a means to calculate the cost of relocating as well as living for expatriates and business travelers.
Video on the ranking of Singapore as the most expensive city in the world