Norway’s capital of Oslo has jumped six places to land as the fifth-most-expensive city in the world, according to a new annual compilation published by The Economist magazine. Oslo is one of two Scandinavian cities on the list for 2018.
Oslo ranked 11th last year and local officials could be relieved that perhaps their city was shaking off its long-time reputation as an extremely expensive place to visit or live. The costs of food, drink, transport, housing, private schools and domestic help are factors used by The Economist when ranking average prices in cities around the world.
Singapore came out on top as the world’s most expensive city for the fifth year in a row. It was followed by Paris, Zurich, Hong Kong and Oslo. Next came Geneva, Seoul, Copenhagen, Tel Aviv and Sydney. A weaker US dollar knocked New York down to 13th place and Los Angeles to 14th.
The 10 cheapest cities were listed as New Delhi, Bucharest, Chennai, Algiers, Karachi, Bangalore, Lagos (Nigeria), Almaty, Caracas and Damascus.
As Oslo climbs on the “most expensive” list, another survey released this week claimed Norway was no longer the world’s happiest country either. It topped last year’s UN World Happiness Report that ranks 156 countries around the world based on expected longevity, social support and corruption. Now Norway ranks second in the world as having the happiest citizens, after Finland claimed the top spot. Next in line were Denmark, Iceland, Switzerland, the Netherlands, Canada, New Zealand, Sweden and Australia.