Paris considers Singapore and Hong Kong as the most expensive cities in the world

SINGAPORE – Paris has climbed to the top of the world's most expensive city for expatriates, tied with Singapore and Hong Kong, according to a poll released Tuesday that named Venezuela's conflict-torn capital as the least expensive.

The French capital was the only euro-zone city in the top 10, rising from the second-highest price last year to seventh two years ago.

Life in Paris is "extremely expensive to live with", with an average two-piece suit for men that costs about $ 2,000 to buyers and a typical haircut for a woman costing $ 120.

Only "alcohol, transport and tobacco" offer good value for money compared to other European cities, the survey said.

The Economist Intelligence Unit (EIU) said it was the first time in more than three decades that three cities ranked in the same rank, after Singapore took the lead in the ranking a year ago.

The top 10 was dominated by Asian and European cities, with Osaka and Seoul placing fifth and seventh respectively, and Zurich (4th), Geneva (5th) and Copenhagen (7th) also in the club. d & # 39; elite.

North America was represented by the US cities of New York, seventh, and Los Angeles, tenth tied with Israel's Tel Aviv.

The appreciation of the currency, inflation and devaluation as well as political upheavals have played a role in this year's ranking, said EIU, which surveyed 133 cities worldwide.

He compared 400 individual awards for 160 products and services, including food and beverages, clothing, housing rentals, transportation, schooling and recreation.

The purpose of the survey is to help companies calculate the allowances and allowances paid to expatriate staff and business travelers.

Caracas dethroned Damascus as the least expensive city in the world amid a power struggle in Venezuela that plunged the country into an increasingly serious crisis.

"As Damascus and Caracas show, an increasing number of sites are becoming cheaper due to political or economic disruption," said EIU.

The economic divide in Asia has been highlighted, with cities like Bangalore (129th), Karachi (127th), Chennai (125th) and New Delhi (123rd) lying at the bottom.

"In simple terms, cheaper cities also tend to be less livable," said EIU.