According the Economist Intelligence Unit, Singapore is now the world’s most expensive city, taking over the top slot from Tokyo, which has slipped down to sixth position. The survey looks at the price of 160 different items, including food items, clothing, utility, and transportation costs.
The next five cities after Singapore were Paris, Oslo, Zurich, and Sydney. A key factor affecting Tokyo’s ranking is the weakening of the Japanese yen. By contrast the Singapore currency has remained strong and prices have continued to rise.
Malaysia also saw its ranking shift a bit as it moved from 74th to 86th place on the list out of 130 countries surveyed. The survey does not take into account average salary levels, and of course compensation is much higher in Singapore. Given the major disparity in prices, you can expect the number of Singaporeans visiting Malaysia to remain high for some time to come.
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