CITIES WITH HIGHEST COST OF LIVING 2023

Singapore and Zurich tied for the top cities in which cost of living was highest, or cities in which living was the most expensive, in 2023. Cost of living refers to how much money people on average spend to sustain a certain standard of living in a given place. The higher the cost of living, the more difficult it is for one’s earnings to go far on basic expenditures, such as food, housing, transportation, healthcare, taxes, etc. For example, spending $100 USD in a place with a high cost of living will get you fewer basic goods and services than spending the same amount in an area considered to have a lower cost of living. Inflation greatly impacts cost of living, and this can be caused by such issues as problems in the global supply chain and logistics wars, and international trade laws. According to Numbeo, the estimated monthly costs for a single person living in Taiwan is 24,570.90 NTD not including rent.