An annual survey rating cities around the world according to how expensive they are to live in, has put Tokyo at the top of the pile – but London is catching up fast.
The survey, by Mercer Human Resources, rates the cost of living for foreign workers by comparing the price of 200 items in 144 cities around the world, with criteria including housing, food, transport and entertainment.
Last year, according to The Guardian, London was in seventh place – but has surged up the chart because or a strong pound and high accommodation and transport costs. The newspaper states that Tokyo, at the top of the pile, is more than three times as expensive as the lowest-ranked city, Asuncion, in Paraguay.
Marie-Laurence Sepede, of Mercer, is quoted as saying: “There have been some dramatic movements in the rankings this year, which are largely due to currency fluctuations, particularly of the US dollar and the euro.”
She said that some of the cheapest cities were in countries that joined the EU this year, adding: “We are likely to see cities in the new EU accession countries rise in the rankings as more investment is made in commercial developments and standards of living increase.”
Report by Tim Gillett, News From Abroad
