Ever wondered which are the costliest cities in the world to live in? Following is a list of the top 10 cities in the world where it was most expensive to live in early 2009 as defined by the Economist.
The Japanese capital city of Tokyo is the most expensive city in the world to live in. Tokyo is also the hub of the world’s biggest metropolitan area in terms of both economy and population. The Tokyo stock exchange is one of the world’s largest, and is the largest one in Japan. Many international companies and some of their regional offices are based in Tokyo. The large size of the population has also led to a huge demand for space. All these factors combine to make Tokyo the most expensive city in the world in which to live.
The second costliest cities are the two linked cities in Japan – Osaka and Kobe. Housing is expensive due to the extremely high population density, and there are other costs as well. The increased land cost coupled with high wages has made the Osaka-Kobe region the second most expensive region in the world to live.
Paris, the capital city of France, is third on the list of costliest cities in the world. The city is extremely famous for its tourist appeal, which generates a large amount of money for the local economy. The economy of Paris is quite strong, which has led to an increased cost of living.
The fourth costliest city in the world, Copenhagen, is also the capital city of a Scandinavian country namely Denmark. This city is not only an important political capital city but the dominant city economically and culturally. Many regional and international offices have their bases in Copenhagen. Recently Copenhagen and Denmark as a whole have witnessed rapid growth, both domestically and internationally.
The city with the fifth highest cost of living is the Norwegian capital city of Oslo. Oslo is Norway’s biggest city in terms of population and economy. It is also a well developed city with income derived from various sources. These sources include maritime engineering, tourism, offshore oil, and gas reserves.