To live, one needs money. You may dream of some great cities that have magnificent infrastructure, smooth roads, multinational companies, chief headquarters, best restaurants, and best everything. But the fact is that the rich cities require a lot of money. The best cities of the world are also the most expensive ones. After the price rises, the cities are becoming more and more expensive. In Asia, price rise has affected 8% of the economy. This led to rise in expensiveness of the cities. The most expensive cities of Asia are listed below:
10. Busan, South Korea:
Busan is a city in South Korea. It is a metropolis with around 3.6 million of population. Being a Metropolitan city, it is one of the most expensive cities in Asia. The city is very popular globally and has had the privilege of hosting Asian Games (2002), FIFA World Cup (2002), APEC Korea (2005) and many other international conventions. The Shinsegae Centum City is the largest and the biggest departmental store in the whole world and this is built in Busan, making it further expensive. Adding to it, it has the largest beach in Korea along with the longest river of Korea making it stand fifth in the ranking of world’s busiest port. Getting a world rank 5 makes it more expensive.
9. Hong Kong:
Hong Kong in China is no cheap as compared to other cities in China. It is in fact, one of the most expensive cities in China. Hong Kong is the city famous for its deep natural harbor and the vast expanded skyline. The culture “East meets West” in Hong Kong is also a reason of its popularity in the world along with its unique judiciary independent from the rest of the China. The currency is Hong Kong Dollar which is ranked eighth judged on the trade through currencies in the world. It is known as the most Vertical city in the world due to its modern architecture. As per WHO and UN, Hong Kong tops the list of life expectancy in the whole globe. All these high international rankings make it a very expensive city and one of the leading financial centers of the world. The capitalist economy is of free trade, thus, expensive.
8. Shanghai, China:
In People’s Republic of China, Shanghai is the biggest by population, having more than 23 million people. The city grew in 19th century under European influence and there is no looking back since then. It is a big global city now with commerce, finance, technology, transport, culture, fashion, media and everything at its best. The globalization is a big reason for it being expensive. Apart from that, the tourism in the city is a major contributor to the fact of it being expensive. The city has a large number of tourists on daily basis because of its historical and unique landmarks including The Bund, Yu Garden and God Temple and Lujiazui skyline.
7. Beijing, China:
It is the capital of People’s Republic of China. The city is highly populated with a population of over 20,693,000 in 2012. The city is the most expensive city in the whole country being the political, educational and cultural center of China. All the biggest state-owned companies of China have their headquarters in Beijing. The International Airport of the capital is the second busiest among all the international airports in the world judged on the basis of passenger traffic. That also increases the financial criteria of the city. The art treasures of this city are famous which include temples, garden, tombs, palaces, universities, etc. Thus, it being a capital of the country with many international rankings makes it a really expensive city.
Now officially known as the Republic of Singapore, is an island city in Southeast Asia off the Malay Peninsula’s southern edge. Singapore is one among the 4 Asian Tigers as it has experienced an increase in wealth massively. If we talk about financial centers in the world, Singapore stands fourth in the world and it is among the 5 busiest port of the world. Singapore has a rich economy which is the result of the exports as well as refined imports. The bigger the economy, the more expensive the city. Among the population of Singapore, one will find mostly Chinese and a few Malays and Indians. It is the diversity of this city that makes it an attractive business centre and financial spot.
5. Seoul, South Korea:
This is the capital city of South Korea and is officially declared as Seoul Special City. This metropolitan city accommodates a population of over 10 million. Seoul mega city is classified under the UNESCO World Heritage Sites and that includes Changdeok Palace, Jongmyo Shrine, Hwaseong Fortress and Royal Tombs of Joseon Dynasty. Seoul has other attractions that hold World Records in Guinness. Few of them are- largest indoor theme park in the world: Lotte World, longest bridge fountain: Moonlight Rainbow Fountain, biggest cinema screen: CVG Starium, etc. The landmarks and rich tourism makes the city very expensive and is the fifth most expensive city in Asia. Above that, Seoul is the 4th biggest metropolitan economy in the world comprising of a GDP worth 773.9 billion US$. Apart from being financial outstanding, the city is also the hub of major technology based MNCs including Samsung, LG, Hundai-Kia, etc. Being technically sound, the city has a very modern and well-designed infrastructure from high-rises, railways, subways and airports.
4. Kobe, Japan:
Kobe is the city of Japan which is one of its biggest ports. It has an approximate population of 1.5 million. The city is among the metropolitan area – Kyoto-Osaka-Kobe. Kobe is the home for ASICS, Kobe Steel and also Kawasaki Heavy Industries having their headquarters built at Kobe. As a result of the Hanshin Earthquake in 1995, Kobe experience heavy loss as a port city but has recovered efficiently and now stands as a financial attraction for many international companies. Kobe is a cosmopolitan city as it has opened trade with West. As the influence of Western trade, Kobe became more and more expensive over time and is now the 4th most expensive city of Asia and 10th most expensive city of the world.
3. Yokohama, Japan:
After Tokyo, Yokohama is the second biggest city of Japan with a population as high as 3.7 million. This also makes it the most populous city of japan after Tokyo. The title for the largest suburb in the world goes to Yokohama but lately, New Taipei is ranked higher. After the mid of 19th century, Yokohama became a prominent port of Japan. The Yokohama is the commercial house of Greater Tokyo Area and is a business centre of Japan. This makes the city a very expensive one, not only in Japan but in the whole Asia and also has the title of 6th most expensive city of the world.
2. Nagoya, Japan:
Nagoya is a city of Japan which is populated with a 2.27 million people which is forth highest in Japan. It lies in the Chubu area in Japan. The city has a port which is among the most important ports of Japan after Tokyo. The other ports of Japan that play a major role in the trade and financial growth include Osaka, Kobe, Chiba, Yokohama, and Kitakyushu. The third large metropolitan area of Japan is Chukyo Metropolitan Area, and that is exactly where Nagoya is situated. Because of its rich economy, Nagoya is the second expensive city of Japan as well as Asia. Among the world’s most expensive cities, Nagoya is ranked on 4th position.
1. Tokyo, Japan:
Tokyo is the capital city of Japan and is officially known by the name ‘Tokyo Metropolis’. Tokyo is declared as the largest metropolitan region of the world. Being the capital city, it houses Japanese Imperial Family, Japanese Government as well as the Imperial Palace. Along with London and New York, Tokyo is listed as one of the top three Command Centres of the world’s economy. The city has hosted a number of International events such as Summer Olympic Games. Tokyo is declared as the most expensive city not only in Japan, not only in Asia but also in the world. Tokyo has 1.479 trillion US$ GDP which is even more than the New York metropolis.