Bucharest ranks 124th out of 133 cities, down two positions in a ranking conducted by the Economist Intelligence Unit (EIU) based on the cost of living.

The cost of living in Bucharest is similar to that in Kiev and New Delhi, while the most expensive cities in the world are Singapore and Hong Kong. Zurich ranks third, reports Bloomberg.

Tokyo has returned this year among the 10 most costly cities in the world. This reflects the region's growing importance in the global economy. Japan's capital, which was the most expensive city in the world until 2012, has gone up seven positions this year to the fourth place.

Japan’s Osaka ranks fifth and South Korean capital Seoul is sixth. Asia represents 40% of the world economy, and the IMF predicts that the region will contribute to two-thirds of the global growth over the next four years until 2020.

France’s capital Paris ranks 8th, followed by New York on 9th, and Copenhagen on 10th.

Economist Intelligence Unit is a business within The Economist Group providing forecasting and advisory services.

editor@romania-insider.com