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Hong Kong most expensive city, Beijing cheapest
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17:27, August 21, 2009

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How many hours do you have to work for a Big Mac?

The largest financial holding group in Europe---UBS released a survey about price level, labor wages and working hours and the purchasing power of residents for 73 cities around the world in 2009. In the survey Hong Kong SAR, Shanghai and Beijing were ranked NO. 28, NO. 41 and NO. 52 respectively.

Statistics showed that eight European cities were among the most expensive top ten cities, while the wage level in those cities also remained at the forefront of the world.

The world's top 10 most expensive cities are; Oslo, Copenhagen, Zurich, Geneva, Tokyo, New York, Helsinki, Vienna, Paris and Dublin. Most of them are European cities except Tokyo and New York.

In light of the depreciation of pound, the capital city of Britain, London dropped to NO. 20 this year, having ranked NO. 2 in 2006. London ranked among other middle level Western Europe cities such as Brussels, Belgium.

The survey released every three years demonstrated that the top 5 residents' after-tax wages were Zurich, Geneva, New York, Oslo and Los Angeles. And the top 5 on purchasing power of residents were Zurich, Sydney, Luxembourg, Dublin and Miami.

The largest gap existed among Asian cities on the cost of living. Tokyo, capital of Japan, ranked among the world's top five most expensive cities. However, Kuala Lumpur in Malaysia, Manila of the Philippines, and Delhi and Mumbai in India were listed as the world's lowest cost of living cities.

By People's Daily Online

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