Is Sydney really more expensive than Tokyo? Singapore has replaced Tokyo as the world’s most expensive city, thanks to the Japanese capital’s weakening yen and Singapore’s strengthening currency. However, Sydney and Melbourne feature regularly on the list and have once again achieved the notoriety of top ten status on a list of the world’s most expensive cities to live in. According to the Worldwide Cost of Living Index, compiled by The Economist, it’s cheaper to live in New York City, Hong Kong or Copenhagen, than it is to dwell in Sydney or Melbourne. Both cities have actually dropped two ranks each since the last survey in 2013, with Sydney coming in at number five and Melbourne equal sixth, due in no small part to the decline in the Australian dollar. The bi-annual index tracks the price of a virtual basket of goods and services in 131 cities around the world, including items like food, drink, clothing, household supplies and personal care items, home rents, transport, utility bills, schooling and recreational costs.
Posted on: Thu, 06 Mar 2014 01:53:36 +0000
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