London is world’s fifth most expensive city

London is world’s fifth most expensive city，do you think so ?

OK,Let us find some detail .

London is the fifth most expensive city in the world in which to live and work, but its workers are not among the top 10 average earners globally.


The findings, from UBS, the Swiss bank, show that the widely held belief among Londoners that the city is painfully pricey to live in has some basis in reality.

“This suggests London isn’t a highly priced labour market in terms of the purchasing power of goods [and] labour remains quite competitive from a business perspective,” said Bill O’Neill, head of the UK investment office at UBS Wealth Management.


Excluding rent, London is the sixth most expensive city in the world, and workers’ gross earnings are, on average, the 13th highest.

UBS compared prices, wages and earners’ purchasing power in 71 cities worldwide in nominal US$ terms. It found that, based on the prices for a standardised basket of 122 goods and services, Zurich, Geneva and New York City were the most expensive cities in the world. The cost of living was lowest in eastern Europe, with Kiev the cheapest city in which to live and work.