For the third consecutive year, Singapore has been named the most expensive city to live in.
In the past few months, a spate of rankings have appeared, determining everything from the best places in the world to retire to, well, the best country in the world. Yet another survey has recently been released: theEconomist Intelligence Unit‘s 2016 Worldwide Cost of Living rankings, which deemed Singapore the world’s most expensive city.
The annual report, which researches and ranks 133 cities based on a twice-yearly survey, collects more than 400 individual prices across 160 products and services, including food and drink, clothing, rent, transport, utility bills, private schools, domestic help, and recreational costs.
Singapore’s high transportation costs are cited as a key factor in its topping of the rankings: Singapore is the most expensive place in the world to buy and use a car, and transportation costs are 2.7 times higher than in New York. Although the island city-state has been awarded the “most expensive” distinction three years in a row, the gap is narrowing between Singapore and Zurich, Switzerland; and Hong Kong, which rang in as the second and third most expensive cities, respectively. Rounding out the top 10 were Geneva, Switzerland; Paris; London; New York; Copenhagen, Denmark; Seoul, South Korea; and Los Angeles. The least expensive city? Lusaka, the capital of Zambia.