What are the most expensive cities in the World to visit? Let me guess. I think you would answer London or New York and surprisingly, they are not according to the top 10 in the Economist Intelligence Unit’s 2014 Worldwide Cost of visiting survey. Considering over 130 cities, and depending on more than 400 different price pointers, Singapore is worthy of the unparalleled merit of being ‘top’, defeating Tokyo, ‘winner’ of 2013.
What grabbed our attention was the fact that there wasn’t a single North American city in this list. Competition and free markets seemingly didn’t let prices go too high. It is a well known fact that US travelers spend the most on business travel (more than $300 billion a year) but usually European cities are more expensive than US cities. However, the rankings will probably change in 2015 as the euro declined nearly 20% against the dollar.
We should note that these rankings aren’t identical to cost of living rankings. Here is what Economist said about its cost of living rankings:
“THE WORLD’s ten most expensive cities are all found in Australia, Asia and Western Europe, according to the bi-annual cost of living index from the Economist Intelligence Unit, our corporate sibling. Singapore retains the top spot, while weak inflation and the yen’s devaluation have pushed Tokyo and Osaka to 11th and 16th place respectively. Seoul has risen from 50th place five years ago to joint ninth at the end of 2014. Asia is also home to many of the world’s cheapest cities: Karachi and Bangalore are the joint cheapest locations among the 133 cities in the survey, and five of the six cheapest cities surveyed are in Pakistan and India. Caracas’s descent from top ten to bottom five is due to the survey’s use of an alternative exchange rate. The cost of living in New York has risen by about 23% over the past five years.”
While we discuss about the 10 most expensive cities in the world to visit, you can also take a look at the following cover stories we did on Most Expensive Cities To Rent In the World, Most Expensive Cities In the World, and Most Expensive Cities To Live in North America.
10. Copenhagen, Denmark (Rank 7)
According to the previous Economist report, the Danish capital, Copenhagen was in 15th place, though it is now in the top 10. Drinks are expensive in Copenhagen and price is almost double than in the UK though you will be to know that Copenhagen came top in the UN’s first World Happiness Report. So, certainly people come to visit this city will be delighted.