The world’s joint two richest cities, located 6,000 miles apart, have been revealed, with one taking the top spot for nine of out the past 11 years.
The Economist’s annual list of the world’s richest cities has put Zurich in Switzerland and Singapore, a country and city-state, at the top.
In Zurich, the strength of the Swiss franc was a major factor in boostings its ranking, whereas Singapore – dominating the top spot for nearly a decade – is particularly costly in terms of clothing and transport.
Both cities also have more expensive housing markets and goods and services cost more than most places, driving up the cost of living.
In order to determine the winner, or winners, The Economist looks at the cost of living index – a comparison of the price of hundreds of products and service in 172 cities around the world.
Zurich is a much smaller city than Singapore, with a population of only 380,000 compared with the island’s population of 5.6 million.
In return for being the world’s joint most expensive city, Singapore offers excellent healthcare, infrastructure, education, and employment
Zurich paints a similar picture as it’s a global financial hub with a stable political environment, creating a high standard of living with a high cost to match.
As well as pinpointing these two cities as the frontrunners, it also found that inflation remains extremely high globally, with the cost of goods and services increasing by an average of 7.4 percent in 2023.
Despite this figure having decreased from 8.1 percent in 2022, it is still well above the previous five-year average of 2.9 percent.
Things to do in Zurich
Zurich is less than a two hour flight from London, with prices starting at as little as £25. Once you’re there you can enjoy the impressive architecture and history of the Old Town also known as Alstadt.
The city’s historical center is home to iconic churches like the Grossmunster and Fraumunster, famous for its stained glass windows. You can also climb up Lindenhof Hill for a stunning bird’s eye view of the town.
Lake Zurich also offers a relaxing break away from the city centre, where ou can take in the breathtakng scenery while kicking your feet up on a boat tour.
You can even book a tour of Lindt Home of Chocolate – a state-of-the-art museum and Switzerland’s ultimate chocolate attraction, perfect for any foodie on holiday.
Things to do in Singapore
Unlike Zurich, Singapore is not an easy location to get to from London, with a nonstop flight taking at least 13 hours and costing upwards of £400.
However, if you decide the journey is worth it, you can marvel at its breathtaking Gardens by the Bay, next to the marina. While entry into the complex is free, tickets are required for two great biodomes – the Cloud Forest and the Flower Dome – and to walk along the Supertree skywalk.
To take in more of the island’s gorgeous greenery, visit the Botanical Gardens -a national park open daily, featuring lakes, animals, flowers and plants, and one of the region’s first rubber tree orchards.
Those looking for a more action-packed holiday can book a bike or go kart tour to wind your way through the busy streets of Singapore.
