It’s just an eight-hour flight from the Aussie east coast – and less than five hours from Darwin. So, what city is even dearer to live in than anywhere in Australia, and has earned the dubious title of most expensive in the world for the ninth time?
If you guessed Singapore, you are right. Now which city tied Singers as the most pricey? Hint, it has a population just higher than Singapore. It is landlocked. And is known for its cheese.
But first, let’s take a look at the lay of the (outrageously expensive) land, a little closer to home.
The monthly Australian consumer price index released this week reveals that prices here have jumped 5.4% year over year.
Transportation costs in Australia are up almost 6% from what they were toward the end of 2022. Astronomical housing prices across the country have risen even more than 6% in 12 months. And food and non-alcoholic drink prices have spiked more than 5% from where they were in the lead-up to Christmas last year.
Let’s also not forget that the backdrop to all of this, is that interest rates are the highest they have been in 13 years — as part of an effort to push inflation and the cost of living, way down.
Interest rate hikes have been happening all over the world in 2023, as nations grapple to tame sky-high prices in the post-pandemic ‘new normal.’ So while the cost of living here in Australia is hard to cope with, spare a thought for those living in the many cities across the globe where the cost of living is much greater.
We don’t even rate in the Top 15 globally according to a new Economist Intelligence report. In fact, Sydney placed just 16th on the global list of most expensive cities. Melbourne is 26. And our third most exy city, Brisbane, is tied at 51 with Adelaide.
More from Forbes
10 least expensive cities to live in
If after reading this, you are still inspired to make a move to a city where the cost of living is much cheaper than Australia, here are the 10 least expensive places across the globe:
1. Damascus, Syria
2. Tehran, Iran
3. Tripoli, Libya
4. Karachi, Pakistan
5. Tashkent, Uzbekistan
6. Tunis, Tunisia
7. Lusaka, Zambia
8. Ahmedabad, India
9. Lagos, Nigeria
10. Chennai, India
Source: Economist Intelligence
10 most expensive cities to live in
The 10 most expensive cities range across the Asian, U.S. and European continents.
Number one on the list, tieing with Singapore, is an EU banking mecca. It sports spectacular mountains. And produces chocolate just as famous as its cheese.
That’s right. Zurich shares the top spot this year, beating out fellow Swiss city Geneva at 3, as well as European counterparts Paris and Copenhagen. Hong Kong makes an appearance in the Top 10, as does North America’s New York, Los Angeles and San Francisco.
1. Singapore (tie)
1. Zurich, Switzerland (tie)
3. New York City (tie)
3. Geneva, Switzerland (tie)
5. Hong Kong
6. Los Angeles
7. Paris, France
8. Copenhagen, Denmark (tie)
8. Tel Aviv (tie)
10. San Francisco
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