Zurich and Singapore are the world's most expensive cities to live in in 2023

(Patria) - American CNN has published a list of the world's most expensive cities to live in in 2023.

The impact of the global crisis on living costs is felt by everyone, but more so by residents of large cities.

According to research, this year has seen a 7.4 percent jump in costs, with food items being the primary drivers of price increases.

Although this jump is slightly smaller than last year's (8.1 percent), there are no indications that price increases will stop during the next year.

The most expensive cities to live in this year are tied between last year's winner Singapore and Zurich, which jumped from last year's 6th place to first.

Besides food items, which are expensive everywhere, clothing and transportation are very expensive in Singapore, while recreation and household supplies are costly in Zurich.

New York, which is always at the very top in terms of prices, shares third place this year with Geneva, reports Punkufer.hr.

In 5th place is Hong Kong, followed by Los Angeles. The Top 10 also includes Paris, Tel Aviv, Copenhagen, and San Francisco.

The biggest drops are recorded by Moscow and St. Petersburg due to the Russian invasion of Ukraine.

Of course, opposite the most expensive cities are the cheapest ones. This year they are Damascus, Tehran, and Tripoli, so if your travels take you to any of them (though it will be hard to get to Damascus), you don't have to fear bankruptcy.