Ranking of the most expensive cities in 2025

In recent years, the global economy has shifted from an era of growth to a period of uncertainty marked by inflation and geopolitical tensions. In 2026, global GDP declined, particularly due to disruption around the Strait of Hormuz. 

Against this backdrop, the cost of living has risen in many cities, changing the ranking of the most expensive cities. In 2026, some cities already on the list have a higher cost of living, while new cities have entered the ranking compared with 2025. 

In this article, we explore these changes in more detail and present the top 10 most expensive cities according to the latest statistics, with an overview of the different living costs to expect.

What are the most expensive cities in the world in 2026?

The Numbeo cost of living index

Note: In 2024, we used the Mercer study to provide accurate data on the most expensive cities in the world. As the Mercer study was not published in 2025 or 2026, we used the Numbeo ranking. 

Numbeo data takes the main areas of expenditure into account, including housing, groceries, transport, healthcare, education and leisure. 

1. Zurich (-) 
2. George Town (new entry)  
3. Lucerne (new entry) 
4. Basel (↑1) 
5. Geneva (↓1) 
6. Lugano (↓1) 
7. St Gallen (new entry) 
8. Lausanne (↓4) 
9. Bern (↓3) 
10. Honolulu (↓1) 

It is immediately clear that there have been significant changes in the order of the cities in the ranking sincelast year. Several Swiss cities remain at the top, while George Town, Lucerne and St Gallen entered the top 10 in 2026. Zurich retains first place, with its cost-of-living index rising from 112.5 in 2025 to 123.1 in 2026.  

Switzerland therefore continues to stand out in the ranking with a very high cost of living. However, the country offers one of the highest standards of living in the world, a dynamic economy, advanced infrastructure, and a rich natural and cultural environment. 

It is also worth noting that moving up the ranking is not always directly linked to an increase in the cost of living. The ranking depends on the relative position of cities compared with one another. For example, New York, which ranked 7th in 2025, is in 12th place in 2026, although its cost-of-living index remains fixed at 100. 

The top 20 most expensive cities in the world in 2026

Here are the current official cost-of-living indices for the 20 most expensive cities in the world:

1. Zurich, Switzerland: 123.1 
2. George Town, Cayman Islands: 116.5 
3. Lucerne, Switzerland: 112.7 
4. Basel, Switzerland: 111.9 
5. Geneva, Switzerland: 111.3 
6. Lugano, Switzerland: 110.4 
7. St Gallen, Switzerland: 108.7 
8. Lausanne, Switzerland: 108.7 
9. Bern, Switzerland: 108.7 
10. Honolulu, United States: 105.4 
11. Tel Aviv-Yafo, Israel: 103.9 
12. New York, United States: 100.0 
13. Reykjavik, Iceland: 98.3 
14. San Francisco, United States: 94.9 
15. Washington, D.C., United States: 92.1 
16. Oslo, Norway: 92.1 
17. Jerusalem, Israel: 91.7 
18. Seattle, United States: 91.4 
19. Singapore: 90.8 
20. St Helier, Jersey: 89.8 

The world’s most expensive cities according to New World Wealth 

Each year, Henley & Partners publishes a report on the world’s wealthiest cities, including data on the prime property market and the average price per square metre. 

Here is the latest top 10: 

1. Monaco: €33,800/m² 
2. New York: €24,000/m² 
3. Hong Kong: €22,900/m² 
4. London: €20,900/m² 
5. Saint-Jean-Cap-Ferrat: €18,500/m² 
6. Paris: €17,700/m² 
7. Sydney: €17,500/m² 
8. Palm Beach: €15,680/m² 
9. Miami Beach: €15,500/m² 
10. Los Angeles: €15,200/m² 

What expats should consider when it comes to healthcare systems in 2026

Funding healthcare systems can generate significant costs. The United States remains the country with the highest healthcare expenditure. Switzerland and Norway follow closely behind. Countries such as Australia, Germany and the Netherlands also face high healthcare costs, which can make everyday life difficult for expatriates, particularly those living in urban areas.

By healthcare costs, we mean the high cost of medicines, hospital care, doctor’s appointments and private health insurance. Here is theaverage healthcare expenditure according to the OECD ranking: 

• United States: more than EUR 13,000 
• Switzerland: EUR 8,100 to EUR 8,700 
• Norway: EUR 8,100 to EUR 8,700 
• Germany: EUR 8,100 to EUR 8,700 
• Australia, Canada, France, the Netherlands, Sweden and Belgium: EUR 6,100 to EUR 7,400 

Expatriates planning to settle in countries with costly healthcare systems should find out in advance what costs they will need to cover. Research healthcare and health insurance costs in your destination country carefully to avoid unexpected surprises. Countries such as Thailand, Malaysia and Mexico also offer healthcare systems and a generally very favourable cost of living. 

Global Health, your international health insurance specialist

Global Health is the insurer dedicated to health cover for expatriates. Our team comprises professionals specialising in international health insurance for everyone who has chosen a mobile lifestyle. 

If you are interested in this topic, explore our different personalised cover options to find a plan tailored to your needs. By choosing Global Health, you are choosing a specialist insurer and joining a community of expatriates around the world. You will also benefit from our global network of partners offering useful services in the country where you wish to live.

Sources:  

Average healthcare expenditure according to the OECD ranking: https://www.oecd.org/en/publications/health-at-a-glance-2025_8f9e3f98-en/full-report/health-expenditure-per-capita_affe6b0a.html

The New World Wealth ranking: https://www.henleyglobal.com/publications/wealthiest-cities-2025/worlds-most-expensive-cities