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Friday, October 7, 2011

Top 10 Most Expensive Cities in the World


Tokyo, Japan: The capital of Japan, Tokyo is one of the most expensive cities in the world to live. It is also the world's largest metropolitan city both in terms of population and economy. Many of the multinational companies have their regional offices in Tokyo due to which there are a lot of highly paid jobs. The Tokyo Stock Exchange is one of the largest in Japan and in the world. There is also a massive demand for space due to the ever growing population which has made it one of the most expensive cities in the world. 

Osaka and Kobe, Japan: The second city that can be included in the list of the costliest cities in the world are the twin cities in Japan - Osaka and Kobe. Both these cities are densely populated, leading to a high cost of living and other expenses. Moreover, many multinational companies like Panasonic, Mitsubishi, Sharp, Sanyo and Mizuno have their headquarters in these cities. They also have a large financial industry, leading to high wages. All these factors combined with the cost of land and high wages make these cities the second costliest cities in the world.

Paris, France: Paris the capital city of France is one of the most beautiful cities in the world. It has many satellite townships and the metropolitan area is quite large. Tourism is a flourishing industry in this city, which generates huge amount of money for the economy. There is a dearth of space for residences and commerce that pushes the cost of rent further up. Apart from the tourism industry, there are also many high tech manufacturing and finance industries which contribute to the strong economy of Paris.

Copenhagen, Denmark: This capital city of Denmark is not only the political capital of the country but it is also dominant in economy and culture. Copenhagen has head and regional offices of many large companies like Microsoft and Maersk. The largest wind turbine manufacturer, Vestas is located in Denmark putting Copenhagen and Denmark as a whole on the economy map. The corresponding high wages and extremely strong economy make Copenhagen the fourth most expensive city in the world.

Oslo, Norway: Norway, which has large gas and oil reserves, is one of the most developed countries in the world. Oslo which is the Norwegian capital, has a large population and a strong economy. It also has a large income in the form of insurance, tourism and maritime engineering. Due to high wages, the basic commodities have to be imported, making Oslo an expensive region. The tax rates in Norway are also very high. Due to the high rise buildings, the living space has become a premium thus increasing the cost of living in Oslo.

Zurich, Switzerland: Zurich, which is the main commercial center is also sometimes called the cultural capital of Switzerland. There are many top educational institutions in Zurich. A major portion of the Swiss economy is based on the Financial Services and many multinational companies like Credit Suisse, UBS and Zurich Financial Services which are based in this city. There is a diversity in the population of Zurich, which is the main reason why international companies like Google, Microsoft and IBM have their facilities in the city.

Helsinki, Finland: Enlisted in the top ten European cities - Helsinki, apart from being the capital of Finland, is also the economic center of the Finnish economy. It has a large shipbuilding industry and also has many hi-tech industries like Nokia. The tax rate of Finland is relatively high and the generation of large amount of wealth probably makes Helsinki one of the cities having the highest cost of living in the world.

Frankfurt, Germany: A major city in Germany, Frankfurt is considered the economic powerhouse of Germany. Many of the European and German central banks are located in Frankfurt. The Frankfurt stock exchange is also the biggest stock exchange in the world. All this wealth makes Frankfurt one of the most expensive cities in the world.

Geneva, Switzerland: Geneva, a popular city in Switzerland is located between The Alps and Lake Geneva. The International Committee of theRed Cross has its headquarters in Geneva. This city is also famous for the location where the Geneva Conventions, the treaties in international law which set standards for treating prisoners of war. Many of the United Nations departments also have their bases in Geneva. Geneva is a main attraction for tourists for its picturesque locations and is also the sixth important financial center in the world. Due to a high revenue and cost of living, Geneva is also the second most expensive city in the continent of Europe.

Singapore: A small island located in south east Asia, Singapore is a city as well as a country. This small country has a dense population of about 7000 people per sq. km. It has one of the busiest waterways in the world connecting east Asia with south Asia, Europe and Africa. Singapore has a very strong economy due to its various business policies and being a base for many international corporations. The Singapore port is also one of the busiest ports, due to the transshipment of goods. The cost of living is also very high due to a lack of living space. Singapore is growing in stature due to its strategic importance on the world map of business and growing economy, making it one of the most expensive cities in the world to visit.

Though there are many other cities in the world which have a high cost of living, according to a recent survey these ten cities achieved the most expensive cities in the world distinction.

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