July 2011
Featured in this insight: Financial services, International
Worldwide cost of living survey uncovers most expensive cities: London has been rated the most expensive city in the UK and Belfast the cheapest, according to the Worldwide Cost of Living Survey carried out by investment consultancy Mercer.
Covering 214 cities, the world survey measured the comparative cost of over 200 items in each location, including housing, food, transport, clothing, household goods and entertainment.
The top three priciest cities to live in were found to be Luanda in Angola, followed by Tokyo in Japan and N'Djamena in Chad.
Looking at the US, New York is the most expensive city by ranking 32nd on the global list, with Toronto at 59th and Vancouver at 65th being the most expensive cities in Canada.
Catherine Gervais, a global mobility expert at Mercer, commented: “Most UK cities have moved up the list following the loss in value of the US dollar against the British pound, the rise in cost of rental accommodation and increased prices on goods and services following the VAT increase... Despite this, London has been overtaken and pushed down the list, reflecting even higher price increases in the cities ranking above it.”
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