Swiss bank UBS made a list of the world’s costliest cities. The prices of 122 goods and services were compared amongst 72 cities in 58 countries for the survey of the most expensive places in the world, released September 14.
According to cnngo.com, the top 3 are: Oslo, Zurich and Tokyo.
Although Oslo is the most expensive place to live, its residents are not necessarily rich. The city only ranks fourth when it comes to average wages and purchasing power.
Zurich is the highest ranked in consumer purchasing power, followed by Sydney and Luxembourg, which means the net hourly wage in these cities can buy the most goods and services.
“A worker in Zurich can buy an iPhone after working for 22 hours,” UBS reported. “In Manila it takes around 20 times more.”
In contrast, the cities with the lowest cost of living are Delhi and Mumbai.
Top 10 most expensive cities in the world
1. Oslo, Norway
2. Zurich, Switzerland
3. Tokyo, Japan
4. Geneva, Switzerland
5. Copenhagen, Denmark
6. New York City, United States
8. Stockholm, Sweden
9. Caracas, Venezuela
10. London, England
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