World

Singapore named world’s most expensive city

Singapore has been dubbed the world's most expensive city to live in, according to a survey of the Economist Intelligence Unit (EIU).
Singapore named world’s most expensive city ảnh 1Singapore has been dubbed the world's most expensive city to live in, according to a survey of the Economist Intelligence Unit (EIU) (Photo: Getty image)

Hanoi (VNA) – Singapore has been dubbed the world's most expensivecity to live in, according to a survey of the Economist Intelligence Unit(EIU).

This is the fifth year in a rowthat Singapore has been at the top of the list. In the EIU survey released onMarch 15, Paris (France) and Zurich (Switzerland) shared the second place,followed by Hong Kong (China), Oslo (Norway), Seoul (the Republic of Korea) andGeneva (Switzerland), Copenhagen (Denmark), Tel Aviv (Israel) and Sydney(Australia).

The world’s most expensivecities like Tokyo (Japan) and New York (the US) are not among the top 10.

Singapore remains the mostexpensive place in the world to buy and run a car, although for other categories,it is significantly cheaper than other cities.

Singapore has avoided trafficcongestions like in other Asian countries by controlling vehicle ownershipthrough a quota system under which a buyer must pay for a Certificate ofEntitlement worth about 30,500 USD, on top of the vehicle’s actual price.

According to the EIU, theweakening of the US dollar in 2017 caused US cities to slip out of the top 10.

Meanwhile, Damascus (Syria), Caracas (Venezuela), Lagos(Nigeria) and Karachi (Pakistan) were listed among the top 10 cheapestlocations this year.-VNA

VNA
#Singapore #world's most expensive city #Economist Intelligence Unit (EIU) #vehicle ownership #quota system #vietnamplus #Vietnam News Agency Singapore
Follow VietnamPlus

Related News

Singapore to impose carbon tax from 2019

Singapore to impose carbon tax from 2019

Singapore will impose a carbon tax from next year in an effort to cut its greenhouse gas emissions and make companies more competitive as global agreements on climate change take effect.
Singapore strictly controls burning of votive papers

Singapore strictly controls burning of votive papers

Burning votive papers is an important practice in the spiritual life of Singaporean people as over 70 percent of the population are of Chinese origin, and the country has tightened management to prevent negative impacts of this practice like wastefulness, fire and environmental pollution.

See more

Cambodian workers collect salt from the fields ready to store it in warehouses in Kampot province. (Photo: Phnom Penh Post)

Adverse weather drives fall in Cambodia’s salt production

March to April is the full time for salt harvesting, but in March, there was a sudden rain in a day that disrupted the production for a week and 10 days, he said, adding that in April, it rained continuously, so the association decided to finish the harvest by the end of April.

Through the ASEAN Economic Community Strategic Plan, ASEAN member countries aim to significantly enhance intra-regional trade by building greater resilience to external shocks and promoting the connectivity of the common market for goods, services and investment. (Photo: VNA)

ASEAN poised for greater role in global economy

ASEAN is a peaceful region, which makes it a conducive location for foreign direct investment and business ventures that can come from across the globe, said the chief economist of Bank Muamalat Malaysia Berhad.

Indonesian Minister of Maritime Affairs and Fisheries Sakti Wahyu Trenggono atUNOC-3 at Port Lympia, Nice, France. (Photo: ANTARA)

Indonesia reaffirms sustainable ocean management commitment at UNOC-3

Indonesia implements blue economy concrete actions, such as expanding marine conservation areas to cover 30% by 2045, implementing responsible quota-based fisheries, promoting sustainable aquaculture, monitoring coastal ecosystems, and involving communities in reducing plastic waste in seas.

Cargo at Long Beach Port, California, the US. (Photo: Xinhua/VNA)

ASEAN accelerates trade talks with US ahead of tariff suspension deadline

According to the earlier US tariff announcement, Cambodia encounters the highest rates of 49%, followed by Laos (48%), Vietnam (46%), Myanmar (44%), Thailand (36%), and Indonesia (32%). Meanwhile, Malaysia, Brunei, the Philippines, and Singapore face lower rates ranging from 10% to 24%.

At the panel discussion (Photo: VNA)

Indonesia seeks urban infrastructure to combat flooding

Indonesia, with over 17,000 islands, is among the countries most vulnerable to rising sea levels, storms, flooding and seismic activity. Jakarta, in particular, is experiencing severe land subsidence — with some areas sinking by as much as 25 centimetres per year — which, coupled with tidal surges, has led to increasingly frequent and severe flooding.

Investment, Trade and Industry Minister Tengku Datuk Seri Zafrul Abdul Aziz (Photo: Bernama)

Malaysia to hold second round of trade talks with US

Malaysia has expressed its readiness to negotiate in four key areas: addressing the US’s reported 24.8 billion USD trade deficit with Malaysia, removing non-tariff barriers, strengthening protections for technology and national security, and exploring the possibility of a bilateral trade agreement.

Thailand tightens e-commerce rules

Thailand tightens e-commerce rules

The Thai government has vowed to more closely supervise those deemed to be “high impact” platforms with a large number of consumers, seeking to address subpar products in an effort to protect the customer interest.