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Travellers told of 'world's priciest cities'

06 March 2015 09:21

Singapore is said to be the world's most expensive city

Singapore is said to be the world's most expensive city

Travellers planning to visit Singapore, Sydney and Paris may have to get saving, after they were named among the world's most expensive cities.

Singapore, a popular spot for long-haul stopover stays, tops the list of over 100 cities for the second year in a row, with Paris ranked second and Australia's biggest city placed fifth.

The Worldwide Cost of Living Survey, carried out by the Economist Intelligence Unit, ranks Norway's capital Oslo as the world's third priciest city and Zurich in Switzerland in fourth place.

Visiting those cities means holidaymakers will need to have plenty of money left over for food, accommodation, sightseeing and entertainment, having already paid for their air fares and city breaks travel insurance.

Those looking for improved value for money may want to think about visiting cities which have dropped down the list and become relatively cheaper to stay and live in.

The most dramatic change has been seen in the Venezuelan capital of Caracas.

Last year, the city was said to have the sixth highest cost of living in the world, but it is now cheaper than all but three of the 133 cities surveyed.

People contemplating a visit to the Far East, meanwhile, should find a visit to Tokyo relatively cheaper than it was a couple of years ago.

Until last year, the Japanese capital was said to be the world's most expensive city but it was replaced by Singapore in 2014 and has now dropped down to 11th place thanks to exchange rate weaknesses and low inflation.

But travellers wanting to take in a visit to South Korea will find its capital, Seoul, relatively more expensive than it was a few years ago.

In 2010, Seoul was ranked 50th but it is now among the 10 most expensive cities in the world.

Jon Copestake, editor of the report accompanying the survey, says the situation is changing rapidly, due to dropping oil prices, exchange rate fluctuations, and other key factors.