The world's most expensive cities 15-08-2006 Oslo and London are the world's most expensive cities, while Zurich and
Geneva residents have the highest purchasing power. Europe dominates the list of
71 cities compiled by Swiss bank UBS, while Asian cities are among the cheapest
places to live, based on the cost of a basket of 122 goods and services.
Oslo maintained its top position from 2005, while London rose three places to
second. Copenhagen, Zurich and Tokyo round out the top five, with New York in
seventh place globally.
London and New York are the most expensive cities when housing costs are
included.
North American workers earn the highest wages, closely followed by Western
Europe. However, European net earnings are significantly lower because of higher
taxes and social security contributions.
Total pay packets were biggest in Copenhagen, Oslo and Zurich; but residents
of the Nordic cities lose out when tax is taken into account.
Kuala Lumpur was the cheapest city, followed by Mumbai, Buenos Aires and
Delhi. Cities in eastern Europe and China were among the least expensive as
well.
Source: Reuters back |
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