10 Most Expensive Cities in the World

Expensive cities: Melbourne, Australia

Tokyo is back on top as the most expensive city in the world, according to new data from the Economist Intelligence Unit. In the company's new worldwide cost of living survey, the Japanese city has outpaced last year's winner, Zurich, for the undesirable ranking as the world's priciest city. This is nothing new for Tokyo, which has only dropped below the No. 1 spot a handful of times in the last 20 years.

Zurich sank from No. 1 to No. 7 on the list, declining a whopping 39 percentage points from last year due to a weakening Swiss franc. Geneva also didn't fare well, seeing a steep decline from a No. 3 ranking in 2012 to barely making the list at No. 10 this year. The survey calculates cost of living based on prices for products and services, including food, clothing, rent and transportation. Each cost-of-living index is set in relation to New York's, which is fixed at a base of 100.


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The Most Expensive City for Expats in Asia

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