by swisscham in Culture & Society
Singapore and Hong Kong are the most expensive cities in the world, according to the latest survey by the Economist Intelligence Unit. Zurich in Switzerland is third. Meanwhile, Chinese cities also fell down the world rankings, because of the steady devaluation of the renminbi. Beijing fell 16 places to 47, while Suzhou, Guangzhou, and Tianjin fell more than 13 places to share 69th place. Despite the rankings, there is a wide variety between the cities in the costs of different goods and services. The survey is published twice a year and is aimed at human resource and finance departments, to help them calculate allowances and compensation packages for staff.