Mail Online published a list of the 20 most expensive cities in the world to live in revealed: Hamilton in Bermuda tops the rankings with San Francisco and New York close behind
- Hamilton, Bermuda, has been revealed as the most expensive city in the world
- 20 cities with the highest cost of living include New York, Sydney and London
- Infographic unveils what locals spend money on and the cost of everyday items
Forget the flashy reputations of Monaco or Macau, a striking new infographic has revealed the world’s most expensive cities, with a few surprises.
Despite the extravagant lifestyles of urbanites in Asia and the Middle East, Bermuda’s capital, Hamilton, is the costliest city on Earth, followed by San Francisco and New York.
The fascinating infographic has also lifted the lid on what locals spend their money on including rent and restaurants. Plus the staggering difference in the cost of everyday items in these pricey locations is highlighted.
Travel agent The Crazy Tourist used recent stats from crowd sourced data site Numbeo to create the handy illustration of the 20 most expensive cities.
Numbeo found that while Bermuda may look like a relaxed location, visitors and locals alike must ensure they’re carrying their wallets in their colourful shorts in Hamilton.
The median monthly cost of living is an eye-watering $4,769 (£3,895) in the financial hub, which has a tiny population of just over 3,000 people.
Financially squeezed San Franciscans might be surprised to discover that their Californian home is the second most expensive city in the world with the cost of living a staggering $4,612 (£3,767) per month.
Rounding out the top three ranking is economic powerhouse New York, which costs residents $4,207 each month for the privilege of life in the Big Apple.
London was rated sixth on the list costing locals $3,228 (£2,637) each month just ahead of Dubai in seventh place with monthly expenses totalling $3,006 (£2,455).
Take a look around the beautiful Swiss city of Geneva.
Sydney also made the top 10 list, with locals spending $2,888 (£2,359) on their living costs each month.
The illuminating infographic revealed that rather than residents of these expensive hubs splashing their income on the highlife and attractions that their home city has to offer, for many the biggest expense is rent.
On average San Franciscans spend a whopping 72.7 per cent of their cost of living each month on rent. Locals in New York are similarly cash-strapped, forking out 69 per cent of their living costs on lodgings.
Followed by Hong Kong and London where locals set 65.4 per cent of their living costs each month aside for accommodation.
However, in stylish Geneva, the fourth most expensive city in the world, residents are able to lavish 15.4 per cent of their living costs on dining out at restaurants.
Hamilton locals were also found to spend 12.1 per cent of their living costs on eating out.
One of the most staggering findings from the study was how the same item can cost significantly more in one city than another.
While beer generally hovers around $6 (£4.90) in San Francisco, New York and Geneva, it is marginally cheaper in London and Hong Kong.
But in Hamilton pub goers will need deep pockets as it costs $9 (£7.35) to quench your thirst with a beer there.
A trip to the cinema varies significantly, with tickets in Hong Kong costing $11.60 (£9.48) but for the same viewing, moviegoers must fork out $19.34 (£15.80) in Geneva.
The most shocking difference is the cost of high speed internet access, which is $27.82 (£22.73) in Hong Kong but an eye-watering $140 (£114) in Hamilton, Bermuda.
A taste of what you can expect in beautiful Bermuda:
