By Oriade Ayomide
The current report of the Economist Intelligence Unit (EIU), has named Singapore as the most expensive city in the world. Singapore has been moving up the ranks of the world’s most expensive cities to live in over the last decade and has finally topped 131 cities globally to become the world’s most expensive city to live in 2014.
Singapore replaces Singapore replaces Tokyo, which topped the list in 2013. The report cited that Singapore’s strong currency combined with the high cost of running a car and soaring utility bills contributed to Singapore topping the list. The city is also the most expensive place in the world to buy clothes.
Top 5 most expensive cities according to the report are:
- Singapore, Singapore
- Paris, France
- Oslo, Norway
- Zurich, Switzerland
- Sydney, Australia