Tokyo is the world’s most expensive city in which to live.
Tokyo is the world’s most expensive city to live in 282 global locations surveyed at 1 July 2010. While Tokyo is relatively inexpensive items such as alcohol and snuff (ranked 173), is the most expensive for food and health care, and second only to Hong Kong for the accommodation expenses of the household. While Tokyo has always been relatively expensive, this trend has been further strengthened recently, as a result of the Japanese yen, which has gained in value by 18% against the U.S. dollar over the past two years.
As the world’s most expensive city, Tokyo has an overall cost of living index of 153.2 (New York = 100), while Dubai (ranked 131 in the world) has a cost of living index of 82.15. Therefore the cost of living in Tokyo is 86% higher than Dubai. This means that an expatriate to win USD $ 5000 per month in Dubai would have to win USD $ 9,300 per month in Tokyo so they can have the same purchasing power, and therefore a similar level of living as they had done in Dubai. The cost of an expatriate life is affected by both the availability and prices of goods and services representative of an expatriate lifestyle, local inflation and the exchange rate between home and host country. As a result, the cost of living has a significant impact on an expat salary package.
Hong Kong is the second most expensive city in the world for expatriates to live the high cost of living generally rank high in Hong Kong is primarily a result of two groups Cart expensive. Hong Kong is the second most expensive city in the world for health care, and is the world’s most expensive city for housing household usually comprises 30% of an expatriate expenses. Hong Kong is a good example of why many international organizations individually to compensate for medical care and related household expenses such as rent, water, electricity, domestic gas, domestic fuel, tax rates and residential premises. Items that are provided by the employer should be excluded from cost of living index calculation. The cost of living in Hong Kong for the exclusion of health care and related costs home is substantially lower than the overall cost of living index 127.87 (New York = 100).
Hong Kong is relatively cheap for recreation and culture (ranked 236 in the world), education (ranked 244 of the world) as well as furniture and appliances (ranked 263 in the world).
Geneva is the third most expensive city in the world, at a cost of living index 124.49 (New York = 100), mainly as a result of being relatively expensive in most groups of the basket with the exceptions are alcohol and the snuff (ranked 194 in the world), education (ranked 167 in the world), and communication (ranked 108 in the world) but also by a strong 16% of the Swiss franc against the euro in last two years.
Brasilia is the fourth most expensive city in the world. The Brazilian real has strengthened 11% against the U.S. dollar last year, although still weaker than it was two years ago. Brasilia is located in the top 60 most expensive cities in the world for each of the 13 groups in the basket.
Oslo is the fifth most expensive city in the world, at a cost of living index 122.05 (New York = 100). The Norwegian krone has strengthened by 16% against the euro in the past year. Oslo is the world’s most expensive city for transport, and the second most expensive city for alcohol and snuff. Oslo is also expensive for groceries, restaurants, hotels and meals made (ranked 5 in the world).
The 20 most expensive of 282 international locations using all 13 groups of the basket is as follows:
July 2010 Rank Country, City
1 Japan, Tokyo
2 China, Hong Kong
3 Switzerland, Geneva
4 Brazil, Brasilia
5 Norway, Oslo
6 Switzerland, Zurich
7 Denmark, Copenhagen
8 Liechtenstein, Vaduz
9 Russia, Moscow
10 France, Paris
11 Venezuela, Caracas
12 Monaco, Monaco
13 Australia, Sydney
14 United Kingdom, London
15 Angola, Luanda
16 Austria, Vienna
17 Australia, Canberra
18 Germany, Munich
19 Italy, Milan
20 Gabon, Libreville
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