Singapore named world’s most expensive city, Mumbai cheapest

Photograph by Merlion444

Singapore has been named as the most expensive city to live in and Mumbai the cheapest in the Economist’s Worldwide cost of living 2014 report.

The report compares a number of price indicators including the cost of groceries, heating, and transport, and the Asian island city of Singapore was determined to be the most expensive place to live on the planet.

Singapore replaces Tokyo at the top of the list as a result of rising costs, a reliance on imports, and most importantly an increasingly strong currency, with Tokyo pushed down to joint sixth place along with Caracas, Geneva, and Melbourne.

Traditionally expensive cities London and New York did not make the top ten, with Paris, the most expensive city in Europe, coming in second place.

At the other end of the scale, the Indian city of Mumbai was found to be the cheapest city in which to live, closely followed by Karachi and New Delhi. The Syrian capital of Damascus was the fourth cheapest place, but this was mostly to do with the bloody civil war that continues to rage in the country.