Planning your well-deserved annual vacation, but don’t want to break the bank? Or thinking about relocating for work or a life experience? If so, you might want to avoid the following 10 cities as they have been earmarked as the most expensive in 2023. A survey, conducted by the Economic Intelligence Unit from August 16 to September 16, 2022, tracks expenses including services and goods in 172 cities around the world. The results can be found in the report, The Worldwide Cost of Living 2022. The world is brimming with iconic cities and memorable international destinations. But which 10 cities are asking you for more of your hard-earned cash to spend time there? These cities offer history, culture, social lives, cuisine, and many amazing landmarks—all are worth a visit in your lifetime. But do the costs justify your booking? Whether you are just holidaying or moving more permanently as an expat, exploring these cities is definitely going to be pricey. The costs and other figures listed below come from this source. All currencies have been converted to US $ in July 2023 unless otherwise stated. Let’s have a look at the 10 most expensive cities on planet Earth in 2023!
#10 Sydney, Australia
Sharing the spot for the 10th most expensive city with Copenhagen, Denmark is Sydney, not formally Australia´s capital (that is Canberra) but the biggest metropolis Down Under. One of the main reasons Sydney is expensive is the rental market—expect to pay AUD $500 per week for a one-bedroom flat, over AUD $650 for a two-bedder. Buying property is also exorbitant due to high demand and low inventory. A single person´s estimated monthly costs, at a conservative estimate, is $1,776 without factoring in rental or mortgage payments. On average, a liter of milk is $2.68, and a loaf of bread is $3.96. The average monthly salary in Sydney is $5,967 after tax. This Aussie city now has a cost of living higher than London or New York. But while you are there, surf at the stunning range of city beaches, visit the majestic Opera House, and sail on salty Sydney Harbour under the iconic Sydney Harbour Bridge. Dine in fusion or European-style restaurants, or in one of the many Asian-style eateries, as Australia is in the region Oceania which is very close to Asia.