Singapore named world’s most expensive city for luxury spending for fourth year in a row

Singapore has been named the world's most expensive city for luxury spending for the fourth consecutive year, according to an annual report by Swiss wealth manager Julius Baer Group. This ranking is attributed to surging global prices for luxury items like watches and jewelry. Zurich has risen to second place, surpassing London, while Monaco has entered the top three for the first time since the survey's inception in 2020. Hong Kong and London complete the top five. Zurich's ascent is credited to the strengthening Swiss franc, bolstered by Switzerland's reputation for stability and the franc's function as a store of value during uncertain economic periods.