Oslo, Zurich and Copenhagen the most expensive cities in the world
easyexpat
27 October, 2009 19:33
According to the latest report from UBS on the cost of living (Prices and Earnings comparison), Oslo, Zurich, Copenhagen, Geneva, Tokyo and New York are the world's most expensive cities in the world. London, the second most expensive city in the 2006 review, plummeted nearly 20 places following the pound’s steep devaluation, landing in the middle of the Western European rankings. Currency devaluation pushed down prices in many emerging market cities as well. Prices slipped the most in Mexico City, Moscow and Seoul.
Paris goes up 2 places from 11th to 9th between 2006 and 2009.The survey says: "Since our previous survey, in 2006, the financial crisis has exerted relentless downward pressure on exchange rates in many countries."
Living costs are calculated based on a survey of 154 items in total. They include 122 products and services that are used directly to calculate the reference basket. When rent prices are factored into the equation, New York, Oslo, Geneva and Tokyo emerge as especially pricey places to live. The basket costs
the least in Kuala Lumpur, Manila, Delhi and Mumbai. The study was
based on data collected in 73 cities around the world between March and
April of this year. (More)
