Asia's Most Expensive Cities
In the world's most populous and fastest growing continent, the elite have gained a reputation for big spending, and are largely focused in metropolitan areas.
Globally, many of the world’s most expensive cities are located in Asia, and strong currencies continue to push up the cost of living in the region. A recent survey published by ECA International takes a look at the most expensive cities, and highlights that the top four are all located within the same country.
So, what are the most expensive cities in Asia? Click ahead to find out!
By Ansuya Harjani, CNBC Asia Pacific
Posted 16 June 2010
10. Busan
South Korea’s largest port city, Busan, is also the center for international conventions in the country. Busan recently played host to the recent G-20 meeting, 2005 APEC summit and the 2002 Asian Games.
9. Singapore
Renowned for its first-rate infrastructure, health facilities and services sector, this city state has been referred to as the world’s most “globalized country” with a diverse populace. This strategically located island is Southeast Asia’s top logistics hub.
8. Beijing
Well-known for its lavish palaces, temples and top of the line universities, Beijing is the cultural and educational center of the People’s Republic of China. It is the home to over 70 tertiary level institutions, attracting scholars from all across the region.
7. Shanghai
As the world’s largest port, Shanghai is the center of commerce and finance in the mainland. China’s richest city is playing host to the 2010 World's Expo with 200 participating countries and international organizations and an expected 70 million visitors.
6. Hong Kong
This bustling city, also known as the Oriental Pearl, is the most expensive location in Greater China. Hong Kong is known for its towering skyscrapers, beautiful harbors and exorbitant real estate prices.
5. Seoul
As South Korea’s capital city, Seoul is home to the some of the world’s largest conglomerates or Chaebols such as Samsung, LG and Hyundai. Almost 25 million people live in Seoul’s National Capital Area, half of the country’s total population.
4. Kobe
This city acts as one of Japan’s busiest container ports and is also the point of origin and namesake of the world renowned, Kobe beef.
3. Yokohama
As Japan’s second largest city, Yokohama is a major commercial center for the Greater Tokyo Area. The city has a strong economic base, particularly in the biotechnology, semiconductor and shipping industries.
2. Nagoya
Known as Japan’s most dynamic region, Nagoya is the hub for Japanese manufacturing industries. It produces a large portion of the country’s automobiles and aircraft parts with a number of Japanese automotive companies headquartered there.
1. Tokyo
Tokyo is the most expensive city in Asia and the world. As a global financial center, it is the location of headquarters for many of the world’s largest investment banks and insurance companies. Tokyo was recently awarded with the most Michelin three-star restaurants in the world, surpassing Paris.