For the discerning traveler seeking the epitome of luxury and exclusivity, understanding the world’s most expensive cities offers a glimpse into destinations where opulence knows no bounds.
In 2025, several urban centers stand out as havens for the ultra-rich, defined by their exorbitant living costs, lavish amenities, and unparalleled quality of life. Explore these elite locales, perfect for those planning bespoke journeys to the world’s most desired addresses.
According to the Global Wealth and Lifestyle Report 2025 by Julius Baer, which analyzes the cost of a basket of goods and services representative of ‘living well’ across 25 global cities, here are some of the top cities that command the highest prices for high-net-worth individuals, and are good destinations for your next luxury trip:
Chapter Trail
Singapore
Singapore is a vibrant island city-state known for its immaculate cleanliness, lush green spaces, futuristic architecture, and efficient urban planning. It’s a melting pot of cultures, offering a harmonious blend of tradition and modernity.
Why It’s Luxe
Singapore reigns supreme atop the rankings for the third year running, making it the costliest city for living well. The report notes that wealthy individuals are undeterred by its high costs. Key drivers include high prices for cars and women’s handbags.
Its continued appeal is bolstered by population growth driven by non-residents, and it consistently draws the wealthy global elite due to its quality of life, infrastructure, cleanliness, and safety. Costs are also significantly high in areas such as healthcare, education, and gourmet dining, along with a notable increase in business class flight prices.
Highlights and Top Activities
- Gardens by the Bay: Explore the futuristic Supertree Grove and the Cloud Forest and Flower Dome conservatories.
- Marina Bay Sands: Experience the iconic rooftop infinity pool, the SkyPark Observation Deck, and The Shoppes.
- Sentosa Island: Enjoy world-class attractions like Universal Studios Singapore, S.E.A. Aquarium, and pristine beaches.
- Orchard Road: Indulge in high-end shopping at this premier retail street.
- Culinary Experiences: Savor diverse and high-quality cuisine, from Michelin-starred restaurants to upscale hawker centers.
Where to Stay
- Marina Bay Sands: For iconic views and direct access to entertainment.
- Four Seasons Hotel Singapore: A tranquil oasis on Orchard Boulevard.
- The Ritz-Carlton, Millenia Singapore: Offers panoramic views of Marina Bay.
- Raffles Hotel Singapore: A historical landmark offering luxurious suites.
Average Travel Cost
A mid-range traveler can expect to spend around SGD 150-200 (approx. USD 110-150) per day, while budget travelers might manage on SGD 60-80 (approx. USD 45-60). Luxury experiences will significantly increase this daily expenditure.
Best Time to Go
The best time to visit Singapore is generally from December to June, with February to April offering pleasant weather for outdoor activities. The “peak season” is often July-October, but Singapore’s weather is consistently warm and humid year-round, with unpredictable rain showers.
London
The historic capital of the United Kingdom, London is a global powerhouse of finance, culture, and innovation. It seamlessly blends centuries of history with contemporary trends, offering iconic landmarks, world-class museums, and diverse neighborhoods.
Why It’s Luxe
London surged into second place globally. The report attributes this rise to a revived luxury market and a weakened pound, which attracts international shoppers.
There’s been a significant surge in property prices, especially in areas like Mayfair and Knightsbridge. Key costly index items in London include LASIK, MBA programs, and private school fees, with the latter seeing a notable increase due to legislative changes. Business-class airfares also saw a substantial surge.
Highlights and Top Activities
- Buckingham Palace: Witness the Changing of the Guard ceremony and explore the State Rooms during summer openings.
- Tower of London: Discover centuries of history, the Crown Jewels, and the resident ravens.
- Museums & Galleries: Visit the British Museum, National Gallery, Victoria and Albert Museum, or Tate Modern.
- West End Theatreland: Enjoy world-class plays and musicals in London’s famous theatre district.
- Luxury Shopping: Explore exclusive boutiques in Mayfair, Knightsbridge, and along Bond Street.
- River Thames Cruise: See iconic landmarks from a different perspective.
Where to Stay
- The Ritz London: An iconic 5-star hotel in Mayfair, known for its historic elegance and afternoon tea.
- The Savoy Hotel: A luxurious 5-star hotel on the River Thames, blending timeless elegance with modern sophistication.
- Claridge’s: A Mayfair institution offering art deco glamour and impeccable service.
- Four Seasons Hotel London at Park Lane: A prestigious hotel offering views of Hyde Park and exceptional service.
Average Travel Cost
A typical mid-range traveler can expect to spend around £150-200 (approx. USD 195-260) per day. Budget travelers might manage on £70-100 (approx. USD 90-130), while luxury experiences can easily exceed £250 (approx. USD 325) daily.
Best Time to Go
London is popular in the summer (June to early September) for its warmer weather and outdoor festivals. Shoulder seasons (late April to May; late September to mid-October) offer milder weather and fewer crowds. Winter (late October to early April) provides the best deals and festive holiday vibes, especially in December.
Hong Kong
A bustling metropolis and a major global financial hub, Hong Kong is famous for its dramatic skyline, deep natural harbor, and vibrant blend of East and West. It’s a city of contrasts, where ancient traditions meet modern innovation.
Why It’s Luxe
Hong Kong secures third place, having slipped from its previous second spot. Despite this, its appeal endures, particularly due to its buoyant investment environment and specific tax incentives that continue to attract family offices of high-net-worth individuals.
The report notes its strong economic recovery post-pandemic. Hong Kong is notably one of the most expensive cities for watches and women’s shoes, though it’s the second cheapest for Champagne.
Highlights and Top Activities
- Victoria Peak: Ascend via the historic Peak Tram for panoramic views of the city and Victoria Harbour.
- Victoria Harbour: Experience the Symphony of Lights show, a dazzling light and music spectacle. Consider a luxury yacht cruise.
- Ngong Ping 360 & Tian Tan Buddha: Take a scenic cable car ride to Lantau Island to see the Big Buddha.
- Luxury Shopping: Explore high-end boutiques and designer stores in areas like Central and Tsim Sha Tsui.
- Fine Dining: Indulge in world-class culinary experiences, from Michelin-starred Cantonese cuisine to international gourmet options.
Where to Stay
- The Peninsula Hong Kong: A grand dame offering unparalleled harbor views and classic luxury.
- Four Seasons Hotel Hong Kong: Known for its luxurious rooms with panoramic views of Victoria Harbour and exceptional service.
- The Upper House: A contemporary luxury hotel with stunning city views.
- Mandarin Oriental, Hong Kong: Offers an elegant retreat in the heart of the city.
Average Travel Cost
A mid-range traveler can expect to spend between HK1,500−2,000 (approx.USD190−260) per day. Budget travelers might get by on around HK800 (approx. USD 100), while luxury travel can easily exceed HK$3,000 (approx. USD 385) daily.
Best Time to Go
The ideal time to visit Hong Kong is from October to November, offering pleasant weather with low humidity, perfect for outdoor activities. Spring (March-June) also has pleasant weather, though with more rain.
Monaco
The Principality of Monaco is a sovereign city-state on the French Riviera, known for its glamour, luxurious casinos, and the annual Formula 1 Grand Prix. It’s a tiny yet densely populated country, exuding an aura of exclusivity and wealth.
Why It’s Luxe
Monaco moved up one position to fourth place globally. The report highlights residential property and MBA programs as its costliest index items.
Its long-standing reputation for luxury, coupled with a favorable tax environment, continues to make it a highly desirable and expensive destination for the ultra-rich.
Highlights and Top Activities
- Monte Carlo Casino: Experience the grandeur of this iconic Belle Époque casino.
- Prince’s Palace of Monaco: Witness the changing of the guard ceremony and explore the State Apartments.
- Monaco Grand Prix: If visiting in May, experience the excitement of this world-famous Formula 1 race.
- Oceanographic Museum: Explore marine science and stunning aquariums.
- Port Hercule: Admire the superyachts docked in the harbor.
- Jardin Exotique de Monaco: Discover a unique cliffside botanical garden with panoramic views.
Where to Stay
- Hôtel de Paris Monte-Carlo: An iconic luxury hotel facing the casino, renowned for its opulence.
- Hôtel Hermitage Monte-Carlo: A Belle Époque masterpiece offering stunning sea views and a tranquil ambiance.
- Monte-Carlo Bay Hotel & Resort: A stylish resort with a lagoon, sandy bottom pool, and private beach.
- Fairmont Monte Carlo: A unique hotel built over the sea, with a rooftop pool and views of the circuit.
Average Travel Cost
Monaco is one of the most expensive destinations globally. A mid-range traveler might spend €300-500 (approx. USD 325-540) per day, which would include a mix of casual and mid-range dining and some paid attractions. Luxury travel can easily exceed €800-1,500+ (approx. USD 865-1,620+) per day.
Best Time to Go
Spring (March-May) offers mild temperatures and coincides with prestigious events like the Grand Prix. Summer (June-September) is perfect for beaches and outdoor activities, but also peak tourist season. Autumn (October-November) offers pleasant temperatures and fewer crowds.
Zurich
Switzerland’s largest city, Zurich, is a global center for banking and finance, renowned for its high quality of life. Nestled at the northern end of Lake Zurich, it offers a picturesque setting with a charming Old Town, luxurious shopping streets, and stunning Alpine backdrops.
Why It’s Luxe
Zurich moved up one position to fifth place. The report indicates that the MBA is its costliest index item.
While overall price developments within EMEA have been moderate, with local currency prices remaining stable or even falling in some cities like Zurich, its high overall cost of living is tied to Switzerland’s general high wages and exceptional quality of life, making it a highly desirable place for affluent individuals.
Highlights and Top Activities
- Bahnhofstrasse: Indulge in luxury shopping along one of the world’s most exclusive shopping avenues.
- Lake Zurich: Enjoy boat cruises on the pristine lake, offering beautiful city and Alpine views.
- Old Town (Altstadt): Wander through historic cobblestone streets, explore charming boutiques, and visit landmarks like Grossmünster Church.
- Uetliberg Mountain: Hike or take a train to Zurich’s “local mountain” for panoramic views of the city, lake, and Alps.
- Kunsthaus Zürich: Immerse yourself in art at one of Switzerland’s leading art museums.
- Lindt Home of Chocolate: Discover the world of Swiss chocolate with an interactive tour and tastings.
Where to Stay
- Baur au Lac: A prestigious hotel in its own private park with lake and Alps views.
- Park Hyatt Zurich – City Center Luxury: A contemporary 5-star hotel near Bahnhofstrasse.
- Widder Hotel – Zurichs Luxury Hideaway: A unique hotel in Zurich’s Old Town, combining historic architecture with modern design.
- The Dolder Grand: A luxurious city and spa resort offering magnificent views and exclusive wellness.
Average Travel Cost
Zurich is notably expensive for tourists.
A mid-range traveler can expect to spend CHF 300-400 (approx. USD 340-450) per day, including mid-range hotel and regular restaurant meals. Budget travelers might aim for CHF 150-200 (approx. USD 170-225) per day, while luxury travelers can anticipate CHF 500+ (approx. USD 565+) daily.
Best Time to Go
April to October offers pleasant weather for outdoor activities. September to November provides a cooler climate with vibrant autumn foliage and fewer crowds. Winter (December-February) is ideal for those interested in snow sports and festive Christmas markets.
Shanghai
A sprawling metropolis and a global financial hub, Shanghai is known for its iconic Bund waterfront, futuristic skyline, and a vibrant blend of traditional Chinese culture and modern sophistication.
Why It’s Luxe
Shanghai dropped from fourth to sixth in the rankings. The report states that Shanghai remains the second most expensive city for watches and the third most expensive for women’s shoes. It is also the most expensive city to have a degustation dinner, though interestingly, it’s the second cheapest for Champagne (after Hong Kong).
Highlights and Top Activities
- The Bund: Stroll along the waterfront to admire Shanghai’s iconic skyline and historic colonial buildings.
- Oriental Pearl TV Tower: Ascend for panoramic views of the city.
- Yu Garden: Explore this classical Chinese garden with traditional architecture.
- Nanjing Road: Indulge in premier shopping on one of the world’s busiest shopping streets.
- French Concession: Wander through leafy streets with charming architecture, boutiques, and cafes.
- Shanghai Museum: Discover ancient Chinese art and artifacts.
Where to Stay
- The Peninsula Shanghai: Offers luxurious accommodations with stunning Bund views.
- Waldorf Astoria Shanghai on the Bund: Blends historic charm with modern luxury.
- The Ritz-Carlton, Shanghai Pudong: Known for its breathtaking skyline views.
- Andaz Xintiandi, Shanghai: A stylish, contemporary hotel in a vibrant entertainment district.
Average Travel Cost
A mid-range traveler can expect to spend around CNY 941 (approx. USD 131) per day. Budget travelers might aim for CNY 352 (approx. USD 49), while a luxury experience can cost CNY 372 (approx. USD 372) or more daily.
Best Time to Go
Spring (March to May) and Autumn (September to November) offer pleasant temperatures and clear skies. Summer (June to August) can be hot and humid, while winter (December to February) is cold.
Dubai
A futuristic city in the United Arab Emirates, Dubai is a global hub for business and tourism, renowned for its ultra-modern architecture, luxury shopping, vibrant nightlife, and desert landscapes. It’s a city that constantly reinvents itself with ambitious projects.
Why It’s Luxe
Dubai has surged five places to seventh globally. Its rise is primarily driven by significant price hikes in residential real estate (17% increase) and luxury automobiles (13% increase).
The report notes that Dubai’s tax-free ecosystem, high-end infrastructure, and luxurious lifestyle offerings make it a magnet for the global elite, solidifying its position as a serious contender among traditional wealth hubs and a permanent home for the ultra-wealthy.
Highlights and Top Activities
- Burj Khalifa: Ascend to the observation decks on levels 124 & 125 for unparalleled 360-degree views of the city.
- The Dubai Mall: Indulge in luxury shopping, explore the Dubai Aquarium & Underwater Zoo, and witness the Dubai Fountain show.
- Desert Safari: Experience dune bashing, camel rides, and traditional Bedouin camp dinners.
- Palm Jumeirah & Atlantis, The Palm: Visit this iconic man-made island and enjoy water parks and luxury resorts.
- High-End Dining: Explore a vast array of international and celebrity chef restaurants.
Where to Stay
- Burj Al Arab Jumeirah: An iconic sail-shaped hotel, often referred to as a “7-star” hotel.
- Atlantis The Royal: A new ultra-luxury resort with stunning architecture and unique experiences.
- Armani Hotel Dubai: Located in the Burj Khalifa, offering sophisticated design and personalized service.
- The Address Downtown Dubai: Offers direct views of the Burj Khalifa and Dubai Fountain.
Average Travel Cost
A mid-range traveler in Dubai can expect to spend around AED 900 (approx. USD 245) per day. Budget travelers might manage on AED 400 (approx. USD 110), while luxury travelers can anticipate AED 2,300 (approx. USD 625) or more daily.
Best Time to Go
The best time to visit Dubai is during the winter, from November to March, when temperatures are moderate and ideal for outdoor activities. The summer months (June-August) are extremely hot and humid, but offer better deals and fewer crowds for indoor attractions.
New York City
The “Big Apple” is a global epicenter of finance, fashion, art, and culture. Its iconic skyline, diverse neighborhoods, and relentless energy offer an unparalleled urban experience.
Why It’s Luxe
New York City is ranked as the world’s eighth most expensive city for high-net-worth individuals in the Julius Baer report. While specific item breakdowns weren’t detailed in the provided report snippets, its consistent high ranking reflects the significant cost of maintaining a high-net-worth lifestyle in this global financial and cultural capital, driven by demand for prime real estate, luxury goods, and services.
Highlights and Top Activities
- Broadway Shows: Experience world-class theater in the iconic Theater District.
- Central Park: Enjoy a serene escape in this expansive urban oasis, perfect for strolling, rowing, or picnicking.
- Museum Mile: Explore world-renowned museums like The Metropolitan Museum of Art and the Guggenheim.
- Observation Decks: Visit Top of the Rock, Empire State Building, or Summit One Vanderbilt for breathtaking skyline views.
- Luxury Shopping: Indulge in high-end shopping on Fifth Avenue and Madison Avenue.
- Fine Dining: Experience a diverse culinary scene with numerous Michelin-starred restaurants.
Where to Stay
- The Mark: An Upper East Side address known for its avant-garde design and exclusive ambiance.
- Baccarat Hotel & Residences New York: Offers limitless luxury with exquisite design and crystal accents.
- The Ritz-Carlton New York, Central Park: Provides cosmopolitan elegance with stunning park views.
- Four Seasons Hotel New York: A classic luxury hotel known for its exceptional service and spacious rooms.
Average Travel Cost
New York City is one of the priciest destinations. A mid-range traveler might expect to spend around USD 405 per day, which would include a mid-range hotel and casual dining. Luxury travelers can anticipate USD 860 or more daily, while budget travelers might aim for around USD 133 per day.
Best Time to Go
Spring (April to June) and Autumn (September to October) offer comfortable temperatures and a vibrant cultural calendar. Winter (November to March) is magical for holiday festivities but can be very cold. Summer (July to August) is hot and humid but offers outdoor events.
Paris
The “City of Light” and the capital of France, Paris is a global center for art, fashion, gastronomy, and culture. Its iconic landmarks, charming boulevards, and romantic ambiance make it one of the world’s most beloved destinations.
Why It’s Luxe
Paris fell slightly in the overall rankings but saw its overall prices increase the most in the EMEA region. The report specifically notes that Paris’s visitor numbers have grown strongly, boosted by its role as the 2024 Olympics host, and accordingly, hospitality prices are some of the highest globally, with a punishing 84 percent rise in hotel suites.
Its enduring allure for fashion, fine dining, and cultural experiences continues to command premium prices.
Highlights and Top Activities
- Eiffel Tower: Visit this iconic landmark, enjoy the views, and experience its sparkling lights at night.
- Louvre Museum: Explore its vast collection, including the Mona Lisa and Venus de Milo. Consider a private guided tour.
- Seine River Cruise: See Paris’s famous monuments from the water, especially enchanting in the evening.
- Champs-Élysées & Arc de Triomphe: Stroll along this famous avenue and visit the iconic arch.
- Notre-Dame Cathedral: Admire the Gothic architecture and witness its ongoing restoration.
- Luxury Shopping: Indulge in haute couture and designer brands on Rue Saint-Honoré and Avenue Montaigne.
Where to Stay
- Hôtel Plaza Athénée: A luxurious hotel on Avenue Montaigne, known for its iconic Eiffel Tower views.
- Le Meurice: A historic palace hotel offering exquisite design and a Michelin-starred restaurant.
- Four Seasons Hotel George V, Paris: An art deco landmark with stunning floral displays and exceptional service.
- Shangri-La Paris: A former royal palace offering elegant rooms and direct Eiffel Tower views.
Average Travel Cost
A mid-range traveler can expect to spend around €150-180 (approx. USD 160-195) per day. Budget travelers might manage on €70-100 (approx. USD 75-110), while luxury experiences can easily exceed €250 (approx. USD 270) daily.
Best Time to Go
September and October offer pleasant weather and a vibrant cultural scene, including Fashion Week. Spring (April-May) is beautiful with blooming gardens but can be rainy. Summer (June-August) has long days and outdoor events but can be crowded. Winter (December-March) is quieter and festive around the holidays.
Milan
Milan is Italy’s fashion and design capital, a vibrant metropolis that seamlessly blends historical charm with modern sophistication. It’s a hub for finance, culture, and high-end shopping, known for its iconic Duomo and rich artistic heritage.
Why It’s Luxe
Milan held its position among the top expensive cities. The report indicates that the MBA is its costliest index item. Additionally, hotel suite prices in Milan saw a significant increase of 26.6%, contributing to its luxury status for high-net-worth individuals.
Highlights and Top Activities
- Duomo di Milano: Explore this magnificent Gothic cathedral and ascend to its rooftop for city views.
- Galleria Vittorio Emanuele II: Indulge in luxury shopping in this stunning 19th-century shopping arcade.
- Teatro alla Scala: Attend an opera or ballet performance at the world-renowned La Scala opera house.
- Quadrilatero della Moda: Explore Milan’s high-fashion district with designer boutiques.
- Last Supper (Santa Maria delle Grazie): View Leonardo da Vinci’s iconic masterpiece (advance booking essential).
- Brera District: Wander through this artistic neighborhood with galleries, boutiques, and cafes.
Where to Stay
- Bulgari Hotel Milan: A luxurious design hotel set in a private garden.
- Mandarin Oriental, Milan: An elegant hotel in the heart of the fashion district.
- Hotel Principe di Savoia: A grand, historic hotel known for its classic luxury.
- Excelsior Hotel Gallia, a Luxury Collection Hotel, Milan: Combines Belle Époque architecture with contemporary design.
Average Travel Cost
A mid-range traveler can expect to spend between €70-300 (approx. USD 75-325) per day. A typical visitor might budget around €70-150 (approx. USD 75-160) for a comfortable trip, with luxury experiences significantly higher.
Best Time to Go
Spring (April to June) and Autumn (September to October) offer pleasant weather for sightseeing and outdoor activities. Summer (July to August) is hot and often busy, while winter (November to March) is cooler and a good time for fashion events.
Conclusion
These elite urban centers, as highlighted by the Julius Baer Global Wealth and Lifestyle Report 2025, represent more than just high price tags; they embody a lifestyle tailored for the ultra-rich. Each city offers a unique blend of financial opportunity, unparalleled services, exclusive experiences, and a vibrant cultural atmosphere that caters to the world’s most discerning individuals.
The report’s findings underscore a fascinating trend: while established bastions of wealth like London and Hong Kong continue to command high prices, dynamic newcomers such as Dubai are rapidly asserting their dominance, attracting the affluent with their innovative infrastructure and appealing tax environments. The fluctuations in rankings and the specific items driving up costs in each city offer a granular view into the shifting landscape of global luxury.
For those whose travels are defined by exceptional quality, bespoke experiences, and access to the very best that global cities have to offer, exploring these distinguished hubs provides not only insight into the aspirations and lifestyles of the world’s wealthiest but also an invitation to discover the unique blend of sophistication and excitement that defines the pinnacle of urban living in 2025. It’s a testament to the enduring appeal of these metropolitan gems, where every detail is curated for an experience beyond the ordinary, reflecting a world where luxury is not just a concept, but a lived reality.
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