There
are such countless urban areas that are unbelievably costly!
A few models are New York, Hong Kong, Singapore, San Francisco, Paris, and
Ashgabat in Turkmenistan.
Spoiler alert: Two of these cities are not even on the list – you probably
won’t
trust me, yet Ashgabat isn't one of these two!.
Good day, Kings!
Today we present you the top 10 most expensive cities in the world in 2020!
The rundown is from the conspicuous Mercer magazine and the positioning
depends on an immense assortment of factors.
Altogether, more than 200 labor and products just as money vacillations and
expansion is considered for the positioning.
The labor and products incorporate food, liquor, tobacco, lodging, and lease,
clothing, individual care, transportation, amusement, and the sky are the
limit from there.
Trust me, it works!
Alright, let’s start!
10. Beijing, China:
Beijing (source: Unsplash)
The
capital of the People’s Republic of China has over 21 million residents, which
makes it the most populous capital city in the world.
Situated in Northern China, Beijing houses the biggest number of Fortune Global
500 organizations on the planet.
It is also called the billionaire capital of the world because it has the
highest number
of billionaires living in the city.
Therefore, it comes as no surprise that Beijing is the number ten most
expensive city in the world!
09.Geneva, Switzerland:
Located
in the French-speaking West of the small country in Europe, Geneva is the
second-most populous city in Switzerland.
Geneva is a worldwide city, a monetary focus, and houses various global
organizations, such as numerous offices of the United Nations and the Red
Cross.
In fact, Geneva hosts the highest number of international organizations in the
world!
Besides being the ninth-most expensive city in the world, it is also the ninth
most livable
city in the world according to Mercer.
And by the way, this is not the last Swiss city on the list, so keep watching
to find
out about the others!
08.Switzerland: Bern:
Bern (source: Unsplash)
As
only the fifth-most populous city in Switzerland, Bern is located in the
mid-west of the country.
Bern’s historic old town in the city center became a UNESCO World Heritage
Site.
After checking some pictures of the old town, I can definitely understand why!
Even though Switzerland does not have a capital according to its constitution,
Bern is stated as the official capital of the mountainous country.
There is a lot of confusion about this topic, which comes from an old question
whether Switzerland should have a capital or not.
Due to its history as a decentralized confederation, the country wanted to
prevent too much power from concentrating in one of its biggest cities.
Due to this, the fifth biggest city was finally chosen as the country’s capital
in a voting
in 1848 – keep that in mind for a pub quiz once the pandemic is over!
07.Shanghai, China:
Shanghai,
located on the mid-eastern shore of China, is a global center for finance,
research, technology, manufacturing, and transportation.
Shanghai's port is the most active compartment port on the planet!
The city also hosts numerous national and international events, such as the
Shanghai
Fashion Week, the 2008 Olympic Games, and the Chinese Formula 1 Grand Prix.
Even though Beijing is China’s capital, Shanghai is basically the center of
China’s
booming economy.
As of 2020, Shanghai is the world’s third-largest billionaire city behind
Beijing and our number 6 spot!
Fun fact: Shanghai means “upon on the sea” in Chinese, and the city houses a
massive
26 million people!
06.New York City:
New York City (source: Unsplash)
This
the city houses the second-most billionaires and it will probably come as no
big surprise
that the biggest city in the United States is included on the list.
Furthermore, this massive city is often described as the cultural, financial,
and media capital of the world.
It is also an important center for international diplomacy, housing the
headquarters of the
United Nations.
It is likewise home to more than 3.2 million inhabitants brought into the world
outside of the US, the biggest unfamiliar conceived populace in any city on the
planet.
This comes as no surprise since New York is historically a major port of entry
for
immigrants into the United States.
More than 12 million European foreigners were gotten at Ellis Island
somewhere in the range of 1892 and 1924, with an immediate view on the Statue
of Liberty as an image of the American dream.
If you have ever been to New York, you will know that the city is
crazy-expensive.
Stay with us to find out which five cities are EVEN MORE expensive!
05.Singapore:
This
sovereign island city-state in Southeast Asia is composed of one main island
and much smaller islands.
Even though the country has the second greatest population density in the
world, Singapore is placed very high in key social indicators, such as
education, healthcare, quality of life, personal safety, and housing.
Surprisingly, the home-ownership rate is at an incredible 91%!
Singapore also enjoys one of the world’s longest life expectancies, one of the
best
internet connections and one of the lowest infant mortality rates in the world!
So many benefits apparently have their price, making Singapore the fifth most
expensive
city in the world.
Fun fact: Singapore has the world’s highest percentage of millionaires, with
one out of
every six families having something like 1,000,000 US dollars indispensable
riches.
Crazy, right?
If you are a history nerd like me, here’s another interesting fact.
The main reason for Singapore’s wealth is its strategic position in the
Straits of Malacca.
Ever since the spice trade between Eastern Asia and Europe started, every ship
that took the
the trip had to sail through this passage!
04.Zurich, Switzerland:
Zurich (source: Unsplash)
This is already the third time this small European country is mentioned in this
video!
As you probably remember Switzerland has no capital according to its
constitution.
But because Zurich is the country’s largest and most famous city, many people
mistake
Zurich
for its capital.
Located
in the German-speaking north of Switzerland, the city is among the world’s
largest financial centers and is home to several large financial
institutions and banks.
In 2019, Mercer also chose Zurich as the city with the second-highest living
quality in
the world, just behind Vienna in Austria!
In 2017, the Global Financial Centers Index positioned Zürich as the eleventh
generally cutthroat monetary focus on the planet, lodging many administrative
centers of huge organizations, like UBS, Credit Suisse, and Swiss,
It was also selected as the second most competitive city in Europe after
London.
This is probably why Swiss bankers are known for their expertise across the
entire planet!
03.Tokyo, Japan:
The
capital and most populous prefecture of Japan is located right in the center of
Japan.
The country’s political and economic center is also the seat of the Emperor of
Japan and
the national government.
In addition, the Greater Tokyo Area is the most crowded metropolitan region on
the planet as of 2020, with an unimaginable 38 million occupants!
Since the PS5 was just released, you probably know at least one massive
Japanese company – Sony!
In addition to that, Tokyo houses another 25 of the 500 largest companies in
the world!
Unfortunately, Tokyo is almost a point where three structural plates meet,
making it one of the world's most dynamic areas for quakes.
Since the Japanese are so smart, of course, they have developed a solution: You
have probably seen how Japanese skyscrapers wiggle around to mitigate the
impact of earthquakes!
02.Ashgabat in Turkmenistan:
Ashgabat (source:unsplash)
Number
two is probably a huge surprise to many of you – at least that was the case
for me, The city is Ashgabat in Turkmenistan.
The
country’s capital and largest city is the second most expensive city in the
world
due to Turkmenistan’s inflation and import issues.
Situated in the mid-south of Turkmenistan, Ashgabat means city of love in
modern Persian.
The city was ruled by the Soviet Union for many years before Turkmenistan
finally became independent in 1991.
But why exactly is Ashgabat so expensive?
Due to the country’s very high inflation and a serious difficulty to import
foreign luxury goods, a lot of goods are sold on the black market, and
prices for these goods can
be outrageously expensive.
It’s a simple question of supply and demand – when the supply of a good or
service is very
low and demand are high, then it can be sold for a VERY high price.
01.Hong Kong:
Hong Kong (source: Unsplash)
The
special administrative region of the People’s Republic of China has a population of over 7.5 million residents of various nationalities.
Hong Kong became a colony of the British Empire in 1842 and was officially
transferred back to China in 1997.
Hard to imagine that it was part of the United Kingdom just 24 years ago,
right?
As an extraordinary regulatory locale, Hong Kong keeps up with isolated
overseeing and financial frameworks from that of territory China, under the
rule of "one country, two frameworks" however this is presently an
exceptionally hotly debated issue.
Hong Kong is the fourth-largest billionaire city behind Shanghai, New York and
Beijing and is one of the world's most significant monetary focuses and
business ports.
Even though Hong Kong only houses a population of 7.5 million, it is the
world’s tenth-largest exporter and the ninth-largest importer, which is
due to its low taxes and free trade.
Did Do you know that Hong Kong has the largest number of skyscrapers of any
city in the world? Hong Kong ranks as the most expensive city in the world
mainly due to its extreme housing prices – space is expensive here since
the city is located in a very special region.
Thank you for Reading!
Also, what is your favorite city on the planet?
I have to say that New York is very impressive and definitely worth a visit!
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