This is the world's most expensive city for luxury spending
What's the story
Singapore has been named the world's most expensive city for luxury spending for the fourth consecutive year. The annual report by Swiss wealth manager Julius Baer Group highlighted a global price surge in items like watches and jewelry. Zurich came in second, while Monaco made its top-three debut since the survey's inception in 2020. Hong Kong and London completed the top five cities for luxury spending.
Currency impact
Factors behind the rise
Zurich's ascent in the rankings can be attributed to the strengthening of the Swiss franc. The country's reputation for stability and its currency as a "store of value" in uncertain times have also contributed to this rise. Meanwhile, Singapore's top position is driven by high residential property and car prices, which are heavily weighted in the index, along with a strong Singapore dollar.
Ranking methodology
Survey methodology and sample size
The Julius Baer Group's Lifestyle Index ranks 25 cities by analyzing price inflation of 20 luxury items and services. These include residential property, cars, business class flights, school fees, and degustation dinners. The survey was conducted between February and March 2026 with responses from 360 high-net-worth individuals with bankable household assets of $1 million or more.