There’s not just one most expensive city this year, but three.
According to the annual Worldwide Cost of Living survey by the Economist Intelligence Unit, the title of most expensive city is shared by Paris, Hong Kong, and Singapore—the first time in the survey’s 30-year history that three cities are in the top spot.
The report looks at 133 cities and the cost of 160 items, such as food and drink, utility bills, rent, and transportation. Using New York as a benchmark, it determines whether prices for these items have gone up or down.
Singapore continues to hold its number one spot for the fifth year running. Paris, which has been in the top 10 since 2003, moved up one place from last year. Hong Kong jumped three places from its 2018 spot at number four.
The majority of the remaining cities in the top 10 are in Europe and Asia, with New York and Los Angeles the only North American cities that edged their way into the ranking of the priciest cities. New York shares its seventh place with Copenhagen and Seoul, while Los Angeles is ranked tenth alongside Tel Aviv—the only Middle Eastern city in the top 10.
Despite skyrocketing rent prices, San Francisco lags significantly behind its American counterparts. It jumped 12 spots from last year, coming in as the 25th most expensive city worldwide.
Meanwhile, the most inexpensive cities to live in were comprised primarily of those suffering from political and economic instability, such as Caracas and Damascus.
World’s 10 most expensive cities in 2019 and their rankings:
1. Hong Kong
7. New York
10. Tel Aviv
10. Los Angeles