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
- Gennady Golovkin Next Fight Options: Canelo Alvarez, Miguel Cotto Or Julio Cesar Chavez Jr.
- NFL MNF: Pittsburgh Steelers 30, Houston Texans 23 [PHOTOS]
- 2014 MLB World Series Game 1: San Francisco Giants 7, Kansas City Royals 1 [PHOTOS]
- 2014 MLB World Series - Game 2: Kansas City Royals 7, San Francisco Giants 2 [PHOTOS]
Join the Conversation
- Virginia Woman Who Posted Naked Image Of Ex-BF’s New Partner 1st Person Charged Under Revenge Porn Law
- No Mercy: ISIS, Father Stones to Death Daughter for Alleged Adultery
- iOS 8 Jailbreak Release Date is Doomed as Team Evad3rs Opts Out, Pangu Hits Snag – Report
- Google Nexus 6 vs. iPhone 5S: 4 Important Things to Consider Before Switching to Android Lollipop
- Swedish Military Spots ‘Russian Submarine’ Off Stockholm Coast, An Alarming ‘Security Game Changer’
- Canada Raises National Terror Alert Level after Suspected Jihadist Runs Over Soldier
- Galaxy Note 4: Best Big-Screen Phone, Says Samsung; Analysts Believe Note 4 Unlikely To Beat iPhone 6 Plus [Watch Video]