Which is world’s most expensive city? It is not Hong Kong, Dubai, London, New York, Paris, Milan; Bengaluru name is…, Mumbai also is in top 20

The Zurich-based Julius Baer Group published its most current rankings recently, stating that Singapore is the world’s priciest city now. According to the Julius Baer Global Wealth & Lifestyle Report 2025, London has secured the second position in the top 10 global cities for living well. In India, Mumbai ranks 20th overall, making it the most expensive city in the country. Interestingly, Mumbai stood at the same position last year as well.

Which is the world’s most expensive city?

As per the Julius Baer Global Wealth and Lifestyle Report 2025, Singapore is the most expensive city to enjoy a luxurious lifestyle. The report evaluates the cost of living for High-Net-Worth individuals (HNWI) from 25 cities around the world. “The Julius Baer Lifestyle Index analyses the cost of a basket of goods and services representative of ‘living well’ in 25 cities around the world,” reads the statement on the official website.

The index survey is based on these factors

The Julius Baer Lifestyle Index survey is based on the living costs and luxury expenditure in 25 cities around the world. It considers living costs, which include housing, cars, business class flights, schooling, dining out, and anything else that can be labeled as “premium lifestyle”.

Of the top 20, eight of those cities are located in Asia, which include Singapore, Hong Kong (3rd), Shanghai (6th), Bangkok, Tokyo, Jakarta, Mumbai, and Manila. Both Hong Kong and Shanghai dropped in the rankings this year, Hong Kong dropped from 2nd last year, and Shanghai dropped from 4th.

The report states that people in Asian countries spend the most on mobile phones and dining out (both categories account for 65% of luxury spending); hotel stays next (64%), healthcare (63%), and clothing (55%).

In Europe, the highest spending is on dining out (44%). In the United States, healthcare tops the list at 43%, while in South America, 52% of luxury spending goes toward cars. In Africa, hotel stays account for the largest share, with 65% of spending.

Mumbai is ranked at…?

The report states that people in Mumbai spend the most on air travel (42%) and dining in restaurants (44%), while only 12% of their spending was on hotel stays and 9% was on luxury items. Approximately 13% of people in Asia travel in business class, while 9% usually spend money on watches and 8% on cycling. The report also emphasizes that the Asia-Pacific region is known as one of the fastest-growing places on the planet. Driven by growth in China and India, Asia’s share in the global number of new High-Net-Worth Individuals (HNWIs) is expected to reach approximately 47.5% between 2025 and 2028.

Julius Baer Global Wealth & Lifestyle Report 2025: Top 10 global cities for living well

  • 1. Singapore
  • 2. London
  • 3. Hong Kong
  • 4. Shanghai
  • 5. Monaco
  • 6. Zurich
  • 7. New York
  • 8. Paris
  • 9. Sao Paulo
  • 10. Milan

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