Singapore Outpaces London, Hong Kong, New York, Zurich, Monaco, and Shanghai In Global Wealth And Lifestyle Index 2025 Surgin With International Tourists ready to splurge on Fancy holidays

Published on July 16, 2025

Singapore has secured the top spot in the 2025 Julius Baer Lifestyle Index, ranking as the globe’s priciest destination for luxury living. Closely trailing behind are London and Hong Kong, placing second and third respectively. The index, which examines the upscale consumption patterns of high-net-worth individuals, attributes the surge in luxury costs to ongoing inflation and broader global economic realignments. Other elite cities making the top 10 include New York, Zurich, Monaco, and Shanghai.

For those who associate leisure with luxury shopping, gourmet dining, and high-end wellness escapes, it might be wise to pause before planning a trip to Singapore. According to the latest 2025 Global Wealth and Lifestyle Index, the city-state has once again emerged as the most expensive destination worldwide for luxury living — a title it has held firmly for three consecutive years.

In the realm of global affluence, where cities are judged not by affordability but by the cost of indulgence, Singapore continues to dominate. From high-end fashion labels to exclusive spa experiences, the cost of living a lavish lifestyle in the city has soared to unmatched levels. Luxury items such as designer footwear can easily cost more than a month’s rent in other global capitals, while upscale health retreats rival the price of compact vehicles.

However, this year’s report has introduced an unexpected shift. London has climbed the ranks to claim the second position, surpassing Hong Kong. The British capital, known for its blend of historic charm and modern luxury, has become increasingly costly for those embracing elite lifestyles. The rising expenses aren’t due to everyday essentials — it’s the premium services and upscale experiences that are driving the surge.

The findings are drawn from the annual index produced by a prominent Swiss financial institution. Unlike standard cost-of-living reports, this index evaluates the financial behavior of high-net-worth individuals (HNWIs), focusing specifically on goods and services that define the luxury market. Categories include elite education, aesthetic treatments, rare collectibles, premium fashion, fine wines, and private yachts — a clear reflection of the choices made by the global ultra-wealthy.

These rankings offer insight into how luxury is priced across different metropolises, highlighting the impact of inflation, currency fluctuations, and regional demand on the cost of exclusivity. Other major cities in the top ten include New York, Zurich, Monaco, and Shanghai, each representing a unique mix of culture, prestige, and spending power.

In today’s luxury landscape, living extravagantly is more expensive than ever, and the cities at the top of this list showcase just how much the world’s wealthiest are willing to spend for exclusivity, comfort, and status.

The Ultimate Haven for the Wealthy: How Singapore Became the Crown Jewel of Global Luxury

No longer merely a convenient stop en route to other global cities, Singapore has transformed into a premier destination for the world’s wealthiest individuals. Its shimmering skyline, exceptional safety, political stability, and forward-thinking policies have made it a magnet for high-net-worth individuals seeking both luxury and long-term value. Yet, Singapore’s appeal extends far beyond designer boutiques and supercars. What truly sets it apart is its world-class infrastructure, business-friendly tax system, and unmatched urban efficiency — creating an environment where wealth is not only flaunted but strategically preserved and grown.

Singapore Leads 2025 Luxury Index as World’s Most Expensive City for High-End Living

Singapore has once again emerged as the top-ranked city in the world for luxury living in 2025, outpacing other global metropolises when it comes to the cost of premium goods and experiences. The latest Global Wealth and Lifestyle Index reveals that Singapore is now the priciest place on Earth to buy luxury shoes and fine jewelry, reinforcing its dominance in the elite consumer landscape. Those looking to invest in a high-end timepiece or designer footwear should prepare for record-breaking price tags.

Yet the city-state’s allure goes far beyond fashion. A significant rise in spending has also been observed in healthcare, education, and gourmet dining — signaling that Singapore’s luxury culture is evolving into a holistic lifestyle that embraces wellness, sophistication, and long-term value.

London Rises to Second: A European Powerhouse Reclaims Its Status

London has jumped from third to second place in this year’s rankings, reclaiming its title as Europe’s foremost capital of luxury. Despite economic shifts following Brexit, the British capital is seeing a strong resurgence in high-end consumption, with prices climbing in private clubs, couture fashion, and upscale hospitality.

Traditionally viewed as more understated compared to its Asian counterparts, London has quietly become a global hotspot for luxury investment. From soaring residential property values to surging demand in elite education, the city’s transformation is backed by strong international interest. A weakening pound has only added to the city’s appeal for foreign luxury buyers, driving a new wave of spending that keeps prices elevated.

Hong Kong Drops to Third — But Remains a Luxury Giant

Hong Kong, once the unchallenged destination for high-end shopping in Asia, has shifted to third place in the 2025 index. Political and economic changes have slightly impacted its ranking, but the city remains a powerhouse in luxury services and experiences. It still ranks among the most expensive cities globally for items like fine wine, private medical care, and premium air travel.

Despite its fall in the rankings, Hong Kong’s deep-rooted luxury appeal continues to shine. The city remains a strong contender in the global high-net-worth lifestyle ecosystem, with high brand density and exceptional service standards.

The Global Top 10: A Diverse Mix of Elite Destinations

The remaining cities in the top 10 rankings offer a clear picture of how luxury demand is shifting worldwide:

Shanghai has solidified its position at fourth, reflecting China’s ongoing surge in domestic luxury consumption. Monaco, synonymous with exclusivity and grandeur, comes in fifth. Zurich’s sixth-place finish reflects the city’s reputation for stability and precision, driven largely by its affluent banking sector.

Meanwhile, New York, the sole North American city in the top 10, holds steady at seventh — notably lower than usual, though still formidable. Paris and Milan continue to exemplify Europe’s dominance in fashion and style. São Paulo, which surprised with a strong showing last year, has slipped slightly to tenth due to regional economic instability.

A New Era of Spending Among the Global Elite

The 2025 report provides more than just a snapshot of expensive tastes — it reflects a broader shift in how global wealth is being allocated. Currency fluctuations, geopolitical uncertainties, and evolving consumer behaviors are reshaping the map of luxury spending.

Europe, once seen as the relatively “affordable” option for high-end experiences, has seen sharp increases in pricing due to monetary dynamics and demand surges. Meanwhile, some traditional luxury hotspots — such as Mexico City — have dropped from the list altogether as regional challenges affect spending power.

What’s clear from this year’s rankings is that luxury is becoming increasingly global, and the competition among cities to attract high-net-worth residents and visitors is intensifying.

The 2025 Luxury City Rankings: A Recap

1. Singapore
2. London
3. Hong Kong
4. Shanghai
5. Monaco
6. Zurich
7. New York
8. Paris
9. São Paulo
10. Milan

Final Thoughts: Why These Rankings Matter

While these rankings might seem distant from the reality of the average consumer, they serve as vital indicators of global economic health, investment patterns, and the shifting values of the world’s wealthiest individuals. Whether it’s a custom suit in Milan, a wellness retreat in Monaco, or a multi-course dining experience in Singapore, luxury spending trends reflect larger macroeconomic forces at play.

As high-net-worth individuals reassess their priorities in the wake of the pandemic and ongoing global changes, cities that combine exclusivity, safety, and sophistication are emerging as the new epicenters of global affluence. The competition is fierce, the stakes are high — and in the world of luxury, only the most dynamic cities continue to rise.