Mercer consulting Firm, based in London, has revised their 2009 Cost of Living Survey. This agency bases the most expensive cities in the world by more than just real estate and rental costs. “Mercer’s Cost of Living survey covers 143 cities across six continents and measures the comparative cost of over 200 items in each location, including housing, transport, food, clothing, household goods and entertainment. It is the world’s most comprehensive cost of living survey and is used to help multinational companies and governments determine compensation allowance for their expatriate employees.”
In Mercer’s survey, New York City is used as the base of their survey, scoring an even 100 points. All other cities in the world are compared to New York, and their score is judged accordingly. Tokyo is first on the list, with a great 143.7 points, followed by another Japanese city, Osaka. Moscow comes in third.
In the United States, New York is the most expensive place to live, with rents almost double its second place contender of Los Angeles. New York City comes in 8th on the worldwide list, LA comes in 23rd. White Plains, NY is next, due to the abundance of expats from abroad, and San Francisco and Honolulu come in fourth and fifth, respectively. For more on the survey, please visit http://www.mercer.com/costofliving (link moved).