Zurich (Switzerland) and Singapore were recognized as the most expensive cities in the world in 2023.
According to the Worldwide Cost of Living Index, last year’s leader New York (USA) dropped to third place, which it shared with another Swiss city – Geneva.
It is worth noting that Zurich ranked sixth last year, and Singapore second. Geneva ranked seventh in the ranking a year ago.
Experts explain this noticeable jump in the ranking of Swiss cities by the strengthening of the Swiss franc, as well as high prices for food, household goods and leisure. In Singapore, meanwhile, the high cost of transport and clothing was noted.
Damascus (Syria) remains the cheapest city in the world, ranking 173rd. Tehran (Iran) and Tripoli (Libya) are also at the bottom of the ranking, ranking 172nd and 171st respectively.