Top 10 Most Expensive Global Cities in 2013, Sydney on 3rd Place
By Vittorio Hernandez | February 5, 2013 9:56 AM EST
Not only is the Australian currency rising, even prices of goods and services in major cities in the land down under are also going up at a faster pace. Thus, two Australian cities are in the Economist Intelligence Unit's 10 most expensive cities in the world.
Sydney is on third spot and Melbourne in fifth place. Here's the complete list.
1. Tokyo, Japan
2. Osaka, Japan
3. Sydney, Australia
4. Oslo, Norway
5. Melbourne, Australia
6. Singapore, Singapore
7. Zurich, Switzerland
8. Paris, France
9. Caracas, Venezuela
10. Geneva, Switzerland.
It is significant that half of the top 10 spots are in the Asia-Pacific region, confirming speculations and political and economic forecast that the coming decades will be an Asian Century.
The report, released on Monday, pointed out that 10 years ago, no Australian cities was in the list of the 50 most expensive cities in the world, while these urban centres started to enter the top 10 roster two years ago.
"Australian cities have been rising very quickly up the rankings as economic growth has supported inflation and currency swings to make them costly," the report said.
Twelve months ago, Sydney and Melbourne were only in 7th and 8th place.
The two Aussie cities, however, have yet to beat the record of Japan's capital city which has been the most expensive city the past 20 years. Just a sample, a watermelon costs $50 while the exotic fruit, durian, could sell for as high as $100.
To contact the editor, e-mail:
Most Popular Slideshows
Join the Conversation
- ISIS Has Been Equipped With Advanced Anti-Aircraft Missiles
- Canada’s Official ISIS Mission Starts On Weekend; Kuwait Uneasy
- Ebola Divides The US: More States Begin Applying Stricter Guidelines Than What CDC Imposed
- Russia Succeeds Where US Fails: ISS NASA Antares Rocket Explosion Meant to Happen; Russia Successfully Launches Cargo Ship
- FIFA May Keep Russia and Ukraine Apart in World Cup 2018
- Marvel Announces Release Dates Of 11 Upcoming Movies From 2015 To 2019
- Xiaomi Becomes World’s Third Largest Smartphone Manufacturer By Dethroning Huawei
- Entry Of Peshmerga Fighters From Iraq Boosts The Kobani Battle Against ISIS: Turkey Provides Transit
- Nexus 6, 9 Buyers on November Release Will Enjoy These 3 Killer Lollipop 5.0 Features First
- Woman Hanged In Iran Talks Abuse In Prison, Left Chilling Message To Family
- Xiaomi VP Hugo Barra Says ‘Apple iPhone 6 Is The Most Beautiful Smartphone Ever Built’
- Nokia Lumia 730 v. Sharp Aquos Crystal – Specifications, Features And Price Showdown