The 10 most expensive cities in the world for the rich
Swiss-based private bank Julius Baer has ranked the world’s most expensive cities for the wealthy by analyzing residences, cars, business-class flights, schools, meals and other luxuries.
Singapore was the most expensive city for luxury living in 2023. Singapore, which ranked fifth last year, knocked Shanghai off the top.
Julius Baer analysts said there are 1,500 family businesses in Singapore, a city-state of 5.5 million, which doubled the previous year. Analysts claimed that Singapore managed to attract investors, but this situation pushed prices up, noting that Singapore has the highest car prices in the world.
Health insurance in Singapore is also above the world average, with high rents, school fees and vehicle taxes.
“Singapore, long considered livable, stable and cosmopolitan, is now on its way to becoming a leading global hub for the wealthy,” Julius Baer analysts said, adding that Singapore has the highest GDP per capita.
Here is Julius Baer’s ranking of the 10 most expensive cities for the “good life for the rich”:
- Singapore
- Carry off
- Hong Kong
- London
- NY
- Monaco
- dubai
- Taipei
- sao paulo
- miami
Dubai entered the top 10 for the first time, while London fell from second to fourth due to Brexit. European cities fell in the ranking, while Zurich fell to 14th place. New York moved up 6 places from 11th place to become the fifth most expensive city. Miami came from 18 to 10 in 2023. Thus, it was the city with the highest rise in the list of the most expensive cities for the rich, with 8 places in the top 15.
Source: Sozcu
Andrew Dwight is an author and economy journalist who writes for 24 News Globe. He has a deep understanding of financial markets and a passion for analyzing economic trends and news. With a talent for breaking down complex economic concepts into easily understandable terms, Andrew has become a respected voice in the field of economics journalism.
