Hong Kong, China
Hong Kong occupies the first place on the list. The city’s free market economy is based on low taxation and state’s non involvement in the economy. Hong Kong is a free port with no value added tax or its equivalents. There are 4 types of imported and local goods under excise taxation in the city. Hong Kong is a key center of international finance and trade in the Asian-Pacific region.
Vancouver, Canada
Vancouver is the second world’s most high-priced and the third largest city in Canada. The megacity is classified as one of the key industrial centers in the country. The city’s trade turnover exceeds CA$75 bn annually. Its activity adds $10.5 bn to national GDP. Vancouver is a major center for software and biotechnology development.
Sydney, Australia
Sydney is ranked the third most expensive megacity on the list. It has an extensive territory and is considered Australia’s largest city. It is famous for its Opera House, the Harbour Bridge, and excellent beaches. Sydney’s residential areas are surrounded by national parks. The city’s coastline is rich in amazing bays, coves, and islands.
Melbourne, Australia
The fourth place in this rating is also taken by another Australian city,
Melbourne. It is the second largest city in the country. Melbourne’s population surpasses 4 mln people. It is among the leading commercial, industrial, and cultural Australian centers. According to experts, Melbourn is the country's sports and cultural capital.
Santa Cruz, US
The fifth on the list of most expensive countries is Santa Cruz in California, the US. It is the administrative center and the largest city of Santa Cruz County. The famous University of California is located in the city.
San Jose, US
San Jose is listed six in the rating. The megacity is located in California. It is third densely populated city in the US after Los Angeles. The city is recognized as the unofficial capital of Silicon Valley. The headquarters of major hi-tech enterprises, such as Cisco Systems, Adobe Systems, BEA Systems, eBay and KLA Tencor are located in the city.
Los Angeles, US
Los Angeles is ranked seventh among the most high-priced cities. It stands on the shore of the Pacific Ocean in southern California. The city is the centre of Greater Los Angeles, a metropolitan area with a population of over 17 mln people. The megacity is acknowledged as one of the largest international cultural, scientific, economic, and educational centers. LA’s entertainment industries such as cinematography, theatre, music, literature, and television are flourishing.
Tauranga, New Zealand
The eighth on the list of megacities with a very high cost of living is New Zealand’s city of Tauranga. The city is located on the North Island and is called the center of the Bay of Plenty region. The leading industries are tourism and agriculture. Tauranga is recognized as one of the most popular holiday destinations among the country’s citizens. Thanks to numerous kiwi plantations and chemical plants located in the area, this region is called the Kiwifruit capital of the world.
Oakland, US
Oakland is the ninth most expensive megacity. It is the largest city in New Zealand with the population exceeding 1.5 mln people, which is about 32% of the total population of the country. Oakland is a major economic and financial center in New Zealand with its economy based on service industry and trade. A number of large international corporations headquarters in Oakland.
San Francisco (US)
San Francisco closes the top 10 most expensive cities in the world. It is recognized as the world tourist center, what is more, the city is well-known for its summer cold fogs, colorful hills and a combination of Victorian and modern architectural styles. Besides, Silicon Valley has boosted San Francisco’s economy. The country's highly qualified specialists in various industries live and work in the city. Silicon Valley is home to biotechnological and biomedical research centers.
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