1:12 am - Friday April 25, 2014

Tokyo becomes world’s most expensive city

A survey published on June 13 has revealed that the Japan capital Tokyo has regained the most expensive city for the expatriates. On the other hand the eurozone crisis has made many of the European cities cheaper.

The survey has been conducted by Mercer group and has named the Pakistani city of Karachi as the most least expensive city. The living cost in Karachi is around three times cheaper than that in the Japanese capital.

The report is published on an annual basis and helps the companies assess compensation allowances for the expatriate workers. It also compares the cost of more than 200 items in 214 cities using New York as a reference.

The list of items includes food, transport and housing. As Tokyo became the most expensive city, it pushed the Angolan capital Luanda to the second place to retake the top spot in the survey. The Japanese city of Osaka came third and the Russian capital came fourth. The European cities slid in the rankings as the euro came down against the US dollar during the debt crisis. Paris which was once in the tops spots stood at the 37th spot while Rome came at the 42nd spot and Athens dropped at 77 from 24.

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