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Asian Cities Among World's Most Expensive, Survey Finds
The comparative cost of living in Europe has plummeted in the past year, while Tokyo and Osaka remain the world's most expensive cities for expatriates, a new report said Thursday.
As European cities get cheaper, the strong dollar has edged American cities up the chart.
In 2000, San Francisco overtook Vienna. The most expensive U.S. city, New York, crept up the rankings to seventh place from 14th in 1999, while the nation's cheapest, Atlanta, gained eight places to rank 63rd.
As the euro's value plunged, other EU cities fell by as much as 20 to 30 places in the EIU's cost-of-living survey, which compares the prices expatriates pay for goods around the world.
With sky-high property prices and expensive travel costs, London retains its position in the top 10 at eight, down one from the previous year.
Due to restrictions on imports to Yugoslavia, Belgrade rocketed to the third most expensive city from 86th -- making it the most expensive place to be posted in Europe.
As in previous years, Asian cities dominate both the top and bottom of the scale. Of the top 10 cities, five are in Asia, while four of the cheapest 10 are also in the region.
In addition to Tokyo and Osaka, Hong Kong, Seoul and Taipei ranked among the six most expensive cities.
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