The world's most expensive and cheapest cities for 2017 (See where Lagos ranks)
Singapore remains the world’s most expensive city according to the latest cost of living survey released by the Economist Intelligence Unit.
The survey which compared the prices of 160 goods and services in 133 cities around the world showed that Asian cities have become comparatively more expensive as five cities from the continent are top on the list.
On the list, Singapore which has retained this title for four consecutive years is followed by Hong Kong, Zurich and two Japanese cities, Tokyo and Osaka.
The survey which was released on Tuesday, March 21, indicated that Singapore was 20% more expensive than New York and 5% pricier than Hong Kong, which lies in second place.
Only four European cities made it to the top 10 most expensive cities around the world. A decade ago, European cities made up eight of the ten most expensive places.
READ ALSO: Interview: The strongest man in Nigeria
According to the report, Paris is the only eurozone city among the 10 most expensive. Compared with other European cities, the French capital still remains expensive to live in, with only alcohol and tobacco offering value for money.
The top 10 most expensive cities are:
- Singapore
- Hong Kong
- Zurich
- Tokyo
- Osaka
- Seoul
- Geneva
- Paris
- New York
- Copenhagen
Lagos in Nigeria is one of the world’s cheapest cities. Other ranked as world cheapest were Almaty, Bangalore, Karachi and others.
READ ALSO: Buhari spits fire, threatens to deal with politicians with fake certificates
The top 10 cheapest cities are:
- Almaty
- Lagos
- Bangalore
- Karachi
- Algiers
- Chennai
- Mumbai
- Kiev
- Bucharest
- New Delhi
London is at its lowest position in 20 years while Manchester fell sharply down the rankings from 26th to 51st position.
READ ALSO: How Buhari’s ministers colluded with IMF to destroy Naira – Falana
Also, American cities have fallen down the rankings, too, although they still remain comparatively expensive compared with five years ago, when New York was ranked in 46th position. San Francisco and Lexington, Kentucky were the only American cities out of the 16 surveyed to move up the rankings.
Meanwhile, Nigerians are Africa’s sixth happiest people, according to the World Happiness Report (WHR). Algeria leads the rest of Africa in happiness, followed by Mauritius. Strife-torn Libya is surprisingly ranked third, ahead of Morocco.
The video below is a survey of the prices of goods in the market.
Source: Legit.ng
