29/06/2007

London second in ‘most expensive city’ pole

Human resources consultancy Mercer’s influential survey – used by global companies to help them determine how much to pay their overseas employees – concludes that London is now the second most expensive place to live in the world after Moscow, with Tokyo, Geneva, Paris and New York taking third to sixth positions respectively. The Cost of Living Survey looks at 143 cities internationally, using New York costs as its benchmark. Prices for renting a flat and buying a daily cup of coffee, as well as entertainment, clothing and food costs, were considered.

With New York as the base city scoring 100 points, London comes out with a score of 126, compared with Moscow on 134, Tokyo on 122 and Rome on 97.6, Dubai on 88.8. London has climbed from fifth to second place over the last year, largely because of the rise in both property and public transport costs in the UK capital.

www.mercer.com

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