Singapore has retained its position as the world's most expensive city, according to research by the Economist Intelligence Unit (EIU). The small country is economically overpowering an elite group of famous cities, such as Paris, Oslo, Zurich and Sydney.
According to data by the EIU, Singapore was found to be more expensive than London, New York and even Hong Kong. The study showed that the cost of living had increased dramatically in the past years due to exchange rate movement that resulted in rising expenses. Rising housing costs in the land-scarce city were also a cause for concern.