Mikel Bilbao/VW PICS/UIG via Getty Images
Cailey Rizzo
Updated March 17, 2018

For the fifth year in a row, Singapore is the most expensive place on the planet to live.

According to this year’s Worldwide Cost of Living report, from Economist Intelligence Unit, residents of the Asian city-state have the most expensive day-to-day lives.

The survey compared the cost of more than 150 products and services — like bread, cigarettes, wine, and gasoline — across the world, adjusting for the strength of foreign currency.

According to the survey, a weakening U.S. dollar means that New York City and Los Angeles are no longer among the most expensive places to live. The cities dropped from ninth and 11th in last year’s ranking to 13th and 14th this year.

For the most part, Asian and European cities topped the list as the most expensive places to live. Paris and Zurich tied for second place. Seoul and Hong Kong also ranked in the top 10. Oslo, Geneva and Copenhagen rounded out the most expensive European cities.

However, this year, Tokyo’s ranking fell considerably. Back in 2013, the Japanese capital was considered the most expensive place in the world to live. For 2018, it didn’t even make the top 10 (it was ranked number 11).

Tel Aviv was the only city from the Middle East that ranked among the top 10 most expensive cities this year. Sydney also made the list this year, jumping four spots to become the 10th most expensive city in the world.

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