Remaining at the spot since three years in a row in most expensive city of the world, Singapore has claimed the first spot as world’s most expensive city.
Singapore the Lion City is the costliest city ahead of Zurich, Hong Kong, Geneva and Paris, an Economist Intelligence Unit published the report as ‘Worldwide Cost of Living 2016’.
Singapore stood at the top of the list scoring 116 points, Hong Kong jumping seven places with 114 points took the second spot sharing place with Switzerland’s Zurich. Paris dropped three places sitting at the fifth.
Despite the weakening euro, Paris has been the only city from the euro zone in the top ten. Paris is still structurally very expensive to live in, with only alcohol and tobacco offering value for money compared with other European cities.
The survey which has been conducted for more than 30 years compares all the cities with New York, which act as the base city with an index set of 100.
Paris joined the list of the most expensive European cities along with Zurich, Geneva, Copenhagen and the latest addition London, which shows that non-euro zone cities have become expensive as compare to their euro zone neighbours.