Ever wondered whether you’ve got it good or bad in the city you currently call home? Are you thinking the grass might be greener elsewhere? Think no more – the results are out. Consulting firm Mercer has released its 2009 Worldwide Cost of Living survey results, with significant changes from last year’s results. These changes are mainly due to massive swings in exchange rates, with many currencies at one of their weakest levels in years against the US dollar.
10. Singapore, Singapore
Singapore moves up three places in this year’s Cost of Living survey from last year’s ranking to become the 10th most expensive city in the world.
9. Beijing, China
Beijing is another new entry into the top 10 list, now in ninth place, up from 20th in 2008.
Chinese cities experienced the reverse effect from that of its European counterparts in this year’s survey results, as the Chinese renminbi performed relatively strongly compared to most other currencies.
After Beijing in ninth place, Shanghai, Shenzhen and Guangzhou follow in 12th, 22nd and 23rd place respectively.
8. New York City, USA
New York City is a new entry in the top 10, jumping from 22nd to eighth place, largely due to the US dollar strengthening over the past year.
7. Copenhagen, Denmark
Copenhagen, the last European city in the top 10, holds onto its seventh spot from 2008.
European cities have experienced some of this year’s steepest falls in the ranking thanks to the fact most European currencies weakened against the US dollar, with Warsaw plummeting from 35th to 113th and Glasgow (129th place) and Birmingham (125th place) in the UK falling 60 and 59 places respectively. German and Spanish cities all fell between eight and 11 places, whereas cities in Sweden, Ukraine, Czech Republic, Romania and Hungary all fell between 36 and 48 places.
6. Zurich, Switzerland
Up three places from last year’s ninth position, Zurich now sits at sixth spot.
5. Hong Kong, Hong Kong
Hong Kong moves up one place from last year’s survey results to reach fifth place this year.
4. Geneva, Switzerland
The fourth most expensive city in the world (up from eighth place in 2008), Geneva is also the second most expensive city in Europe.
3. Moscow, Russia
In this year’s third place – and last year’s first place – Moscow remains the most expensive city in Europe for expatriates. However, a dramatic depreciation of the Russian rouble against the US dollar has led to a sharp fall in the city’s index score compared to 2008.
Accommodation costs also started to decrease at the end of last year, after a sharp increase in the first part of 2008.
2. Osaka, Japan
Another Japanese city, Osaka, features at the number two spot (previously 11th in 2008) – again largely due to the surge in value of the Japanese yen against the US dollar over the past year.
1. Tokyo, Japan
Tokyo has knocked Moscow off the top spot to become the world’s most expensive city for expatriates, according to the latest Cost of Living Survey from consulting firm, Mercer.
The Japanese yen has strengthened considerably against the US dollar over the past year, and as a result Tokyo’s number two spot in 2008 was bumped up to top spot in the 2009 survey.
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