The most expensive cities in the world
In 2021 we listed the world’s most expensive cities here. Four years later, Singapore is back at the top, Zurich has climbed, and one destination on this list is now practically closed. What’s changed in the ranking, and where you can still experience a lot on a tight budget.
InspiredByLuxury editorial team In November 2021 we introduced you to the world’s most expensive cities, right in the middle of the pandemic when travel was difficult anyway. Today, in 2026, the ranking looks different-but the core remains: the same metropolises that push your wallet to the limit. We take a look at what’s changed in the list, which city truly sits at the top today, and where you can still enjoy great days even on a shoestring.
- Singapore and Zurich have shared the top spot in the Economist Intelligence Unit’s cost-of-living ranking since 2023, alternating with Hong Kong depending on the survey.
- Singapore is most expensive when it comes to cars: a certificate of entitlement to buy a car has sometimes cost more than the vehicle itself.
- Zurich is climbing mainly due to the strong Swiss franc and high prices for food and leisure.
- Ashgabat in Turkmenistan is hard to visit in 2026; the visa remains the biggest hurdle.
- High living costs hit locals hardest: as a traveller, you’ll find ways in every one of these cities to experience a lot for little money.
When you think of an expensive city, hotel rates and restaurant bills come to mind first. But the more interesting question is why these places are so pricey-and how you, as a traveller, can still have a great experience without breaking the bank. That’s exactly what this updated look back is all about.
Singapore: almost always number one today
In 2021 Singapore still ranked low on our list. Today the city-state in Southeast Asia sits at or near the top. In the Economist Intelligence Unit’s Worldwide Cost of Living Ranking, Singapore shared the top spot with Zürich in both 2023 and 2024. The biggest driver is transport costs: to drive a car in Singapore you need a so-called Certificate of Entitlement, a government-auctioned permit that at times costs more than a mid-range car because the government strictly caps the number of vehicles.
For you as a visitor it hardly matters, because the public transport network is cheap, fast and air-conditioned. Skip the pricey sides of Singapore-rooftop cocktails and designer malls-and you’ll find hawker centres such as Maxwell or Lau Pa Sat serving excellent food for a few euros, while Gardens by the Bay and the botanical garden, a UNESCO World Heritage Site, are free to enter in most areas.
Singapore is expensive for anyone who lives there and owns a car. For travellers with a local transit pass and a craving for hawker food, the city remains surprisingly affordable.
Zürich: the strong franc makes the difference
Even in 2021 Zürich was expensive; today it is one of the outright leaders. The reason lies less in the city itself than in the currency: the Swiss franc is strong, making every purchase noticeably pricier for euro-area visitors. Add high prices for groceries, household goods and leisure, and Mercer and the Economist Intelligence Unit regularly place several Swiss cities in their top ten-Zürich often alongside Geneva, Basel and Bern.
The upside: Switzerland is one of the few destinations where the expensive is also the beautiful. Lake Zürich, the Enge lakeside pool, the Old Town and a hike up Uetliberg cost nothing. Tap water from one of the historic fountains is free and drinkable. Opting for bakeries and Migros instead of restaurants slashes daily costs.
Hong Kong: skyline free, rent brutal
Hong Kong appeared on our list in 2021 and still ranks near the top today; Mercer has at times placed it first. The Special Administrative Region’s more than seven million residents endure some of the world’s highest rents. As a traveller, however, you’re mainly affected by hotel prices; the rest of the city can be experienced surprisingly cheaply.
The iconic night-time skyline is free to view from the Tsim Sha Tsui waterfront, the Star Ferry across Victoria Harbour costs only a few cents, and the hiking trails on Dragon’s Back or Victoria Peak are free. Add Dai Pai Dong street kitchens and the old villages in the New Territories, and you’ll see that Hong Kong is more than glossy malls.
New York and Paris: expensive, but predictable
New York and Paris show up in almost every ranking of the world’s most expensive cities, and that hasn’t changed since 2021. In the EIU survey New York lately sits around third place, often tied with Geneva, while Paris hovers in the upper mid-range of the global list. In both cities accommodation gobbles up the biggest slice of the budget.
Yet both cities reward advance planning. In New York the Staten Island Ferry with its Statue of Liberty views, Central Park and the High Line are free; many museums offer pay-what-you-wish hours. In Paris the first Sunday of every month grants free entry to several municipal museums, a picnic along the Seine outshines any pricey bistro, and the city’s finest hours cost nothing anyway.
Ashgabat: the expensive destination almost no one sees
In 2021 Ashgabat in Turkmenistan topped our list, mainly because of its tightly controlled economy and the high prices for imported goods. The white-marble capital looks like a film set, yet visiting it in 2026 has become even harder. Turkmenistan issues tourist visas only sparingly, usually requiring a state-accredited tour operator and short, fixed stays.
Landmarks such as the Monument of Neutrality or the Karakum Desert remain fascinating. The famous Darvaza gas crater-long known as the Gate to Hell-has been burning for decades, though the government has repeatedly announced plans to extinguish the flames. Anyone heading there plans months ahead and accepts that spontaneity simply isn’t an option.
If you’re drawn to expensive destinations and wonder where the effort is truly worth it, also read our piece on how Sylt is turning into an island for the ultra-wealthy. And if you’d rather experience big money in the gold of the Emirates, we’ve got ideas on how to make your time in Dubai the highlight of the year.
Good to Know
▸Which city is the most expensive in the world in 2026?
It depends on the survey. The Economist Intelligence Unit’s Cost-of-Living Ranking has had Singapore and Zürich sharing the top spot since 2023, while Mercer’s survey sometimes lists Hong Kong in first place. All three swap positions depending on the methodology.
▸Why is Singapore so expensive?
Mostly because of transport costs. Driving a car requires a government-auctioned Certificate of Entitlement that can cost more than the vehicle itself. Add high rents and import prices, and the picture is complete-though as a visitor you can dodge the biggest hit with cheap public transit.
▸Can you visit an expensive city on a small budget?
Absolutely. Almost everywhere, accommodation and restaurants are the priciest items. Opt for street food, free viewpoints, public transit, and parks or promenades with no entry fee, and you’ll experience the city for a fraction of the cost.
▸Can I still travel to Turkmenistan and Ashgabat?
Technically yes, but only with considerable lead time. Tourist visas are issued restrictively and usually only through an accredited tour operator, and stays are strictly limited. Spontaneous trips are practically impossible.
Image sources, top image: Unsplash / Samson. Singapore: Pexels / Eli Mirasol.
