Moscow is the most expensive city in the world due largely to the high cost of housing and the poor exchange rate against the dollar, according to the annual survey of 143 cities worldwide conducted by Mercer Human Resource Consulting. The survey measured the comparative cost of more than 200 items such as housing, transportation and food using New York City--and the U.S. dollar--as the baseline. This cost-of-living survey is designed to help expatriates who live and work in foreign cities, a proposition that has become especially pricey for Americans since the dollar has weakened and the euro has strengthened.
London was second on the list, up from fifth place. Seoul was the third-priciest city, followed by Tokyo and Hong Kong, all down one from 2006. New York City is the only U.S. city to make the top 20 list. For the fifth year in a row, the least expensive city surveyed was Asuncion in Paraguay.
The most expensive fast-food hamburger is in Copenhagen, while the cheapest is in Beijing. Moscow serves the most expensive cup of coffee, while the least expensive cup can be purchased in Buenos Aires. Tokyo is the most expensive city for renting a luxury two-bedroom unfurnished apartment, and Johannesburg is the cheapest.
The top 20 most expensive cities worldwide: High-ranking U.S. cities include: Los Angeles (42), Miami (51) and San Francisco (54). --From the Editors at Netscape
1. Moscow
2. London
3. Seoul
4. Tokyo
5. Hong Kong
6. Copenhagen
7. Geneva
8. Osaka
9. Zurich
10. Oslo
11. Milan
12. St. Petersburg
13. Paris
14. Singapore
15. New York
16. Dublin
17. Tel Aviv
18. Rome
19. Vienna
20. Beijing
(Source: Mercer Human Resource Consulting)
