VLADIVOSTOK. July 8. VOSTOK-MEDIA – According to the Worldwide Cost of Living survey 2009, Moscow is not the most expensive city in the world any longer.
The 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. The rating is used by companies to determine compensation allowance for their expatriate employees with annual base salary of USD 80,000.
The importance of the list lies primarily in that internationally operating companies use it to determine where they will open offices or plants and how much they pay the employees. New York is given a baseline score of 100 and other cities are rated in comparison.
The Russian capital, last years most expensive city for expats, fell to third spot. Tokyo and Osaka have knocked Moscow off to become the world’s most expensive cities. Geneva climbs four places to fourth position and Hong Kong moves up one to reach fifth.
Rome fell two places to rank 18 replacing St. Petersburg that dropped 28 places to rank 46. The fall in the value of British pound against the US dollar caused London to plummet from pot 10 list to 16th place.
Cost of living survey names Johannesburg the cheapest city, which replaced Asuncion in Paraguay.