Two Japanese cities top a list of the world's most expensive cities for expatriates, while a weaker dollar is making it cheaper for foreigners to live in the United States, according to a new survey that is used by transnational companies to determine cost of living differentials paid to employees living out of the country.
With New York's rating set at 100, Tokyo was rated at 170 and Osaka at 153, among the 89 major cities in the survey released Tuesday by Corporate Resources Group, a Geneva-based consultancy.New York ranked 41st on the list. Chicago and Washington, D.C., were the second and third most expensive U.S. cities for foreigners.
Prague, with a rating of 56, and Ecuador's capital of Quito, 54, were the cheapest cities to live in.
Moscow was temporarily dropped from the survey "due to the severe shortage of goods and services," CRG said.
Six European cities - Oslo, Helsinki, Zurich, Geneva, Stockholm and Copenhagen - were among the top 10 with index figures ranging from 144 to 131. Brazil's Sao Paulo, at 111, and Rio de Janeiro, at 110, are the most expensive cities in the Western Hemisphere.