Singapore reigns as world's most costly city
A new survey ranks the island nation as the most expensive city to live in this year.
This post comes from Krystal Steinmetz at partner site Money Talks News.
Singapore leapt five spots in 2014 to overtake Japan's capital of Tokyo as the world's most expensive city to live in.
The 2014 Worldwide Cost of Living survey by the Economist Intelligence Unit compares more than 400 different price indicators, from groceries to utilities, to rank the cost of living of 131 cities worldwide.
It uses 26th-ranked New York City as a base, The Wall Street Journal says.
The biannual survey placed Singapore first on its list, followed by Paris, Oslo, Zurich and Sydney.
Just a decade ago, Singapore was the 18th costliest city to live in. Said the WSJ:
In the heart of the city-state's business district, nestled amid gleaming office blocks, a hawker center still sells breakfast sets with coffee, toast and an egg for less than a $1.50. But less than a kilometer away, at the swanky Marina Bay Sands resort, big spenders can drop $26,000 Singapore dollars (US$20,500) on a single cocktail at Pangaea, billed the world's most expensive club.
The soaring costs of cars, houses, transportation, utilities and clothes, as well as a strong currency, have helped push Singapore to the top of the list, said CNBC.
On the other end of the spectrum, the cheapest cities to live in are located in South Asia. Mumbai, India's financial center, is the world’s cheapest city to live in. Karachi and New Delhi round out the bottom three.
Says The Independent of the United Kingdom, "Inequality between the richest and poorest in India's major cities like Mumbai and New Delhi ensures prices are kept low, while spending is also stifled by rafts of government subsidies."
More on Money Talks News:
Ahem....where's my "Happy Ending", miss?......ANYONE??
If someone is dumb enough to pay that kind of money for
a drink, they've got to be intoxicated to start!!!!
Are you a business man or woman? Are you in any financial mess or do you need funds to start up your own business? Do you need a student loan? Do you need loan to settle your debt or pay off your bills or start a nice business? Do you have a low credit score and you are finding it hard to obtain capital loan from local banks/other financial institutes? kindly get back to us for further processings through email:firstname.lastname@example.org
Do you need a Loan?
Are you looking for Finance?
Are you looking for a Loan to enlarge your business?
I think you have come to the right place.
We offer Loans at low interest rate.
Interested people should please contact us on
For immediate response to your application,
LOAN APPLICATION FORM.
Send to the via email:email@example.com
Copyright © 2014 Microsoft. All rights reserved.
Fundamental company data and historical chart data provided by Morningstar Inc. Real-time index quotes and delayed quotes supplied by Morningstar Inc. Quotes delayed by up to 15 minutes, except where indicated otherwise. Fund summary, fund performance and dividend data provided by Morningstar Inc. Analyst recommendations provided by Zacks Investment Research. StockScouter data provided by Verus Analytics. IPO data provided by Hoover's Inc. Index membership data provided by Morningstar Inc.
ABOUT SMART SPENDING
LATEST BLOG POSTS
Banks offer confusing and conflicting information about overdraft protection, making it hard for customers to understand the real costs.
VIDEO ON MSN MONEY
BLOGS WE LIKE
MUST-SEE ON MSN
- Video: Easy DIY smoked meats at home
A charcuterie master shares his process for cold-smoking meat at home.
- Jetpacks about to go mainstream
- Weird things covered by home insurance
- Bing: 70 percent of adults report 'digital eye strain'