For the fifth year in a row, the highly developed city-state of Singapore has managed to maintain its spot on the list of the most expensive cities to live in.

Ranking

Singapore took the number one spot on the Worldwide Cost of Living Index compiled by the Economic Intelligence Unit, released on the 15th of March 2018. Paris followed closely behind at number two.

Cost of Living

Its top spot on the list denotes the rising cost of living in the region as Asian economies work their way towards being powerhouses. Reportedly it is the most expensive place to own and run a vehicle as well being the third most expensive place to purchase clothes.

Why it’s a Great Place to Live in

Strong government regulation policies combined with exceptional infrastructure, education and health development and extremely low levels of crimes – has proven magnetic to international investors and skilled workes forces.

Tourism

While it enjoys hosting the highest living costs in the world, tourism is a thriving industry in Singapore and is considered to be a top pick for Luxury holiday destinations by many influential entities such as The Luxury Travel Channel. In 2017 alone, a total of 17.4 million worth of international tourists flooded in many of whom who enjoyed staying at Singapore’s most exclusive resorts.

Catalina Forbes is a travel writer who bases her content on many thrilling escapades experienced across the world. Google+