Worldwide cost of living survey has released the list of expensive cities to live in. And the good news is that, Dubai and Abu Dhabi have slid in the ranking. This means the cost of living has reduced in Dubai and Abu Dhabi.
The survey compares the price of hundreds of products and services, including rent, transportation and food, in 131 cities. The prices are then indexed to New York City, which keeps a score of 100. Zurich knocked off Tokyo by a score of 170 to 166, which indicates that living in those cities is 70% and 66% more expensive than living in New York City.
Below are the top 10 expensive cities in the world (in reverse order):
10. Franfurt, Germany
9. Singapore
8. Melbourne, Australia
7. Sydney, Australia
6. Paris, France
5. Oslo, Norway
4. Osaka/Kobe, Japan
3. Genewa, Switzerland
2. Tokyo, Japan
1. Zurich, Switzerland
Dubai and Abu Dhabi have surprisingly been out of the top 10 expensive cities. The main cause for this is the lower inflation due to the fall in rents across the country by at least 20-30% since the economic crisis and increased supply.
deepak@machado.ws