Oslo remains the world's most expensive city to live in, according to the latest Worldwide Cost of Living survey. It is now more costly to live in London and Paris than in Tokyo, which was unseated from the top spot in last year's survey. Eight of the ten dearest cities are in Europe, partly reflecting the strength of European currencies. New York, 28th of the 132 cities surveyed, is the most expensive destination outside Europe and Asia. Those looking to live on a budget should move to Latin America, which accounts for a quarter of the cheapest 30 cities. The cost of living in Buenos Aires is a little over half that in New York.
The Worldwide Cost of Living survey compares the cost of living in over 130 cities in nearly 90 countries. It gathers detailed information on the cost of more than 160 items—from food, toiletries and clothing to domestic help, transport and utility bills—in every city. More than 50,000 individual prices are collected in each survey round, and a cost-of-living index is calculated from the price data to express the difference in the cost of living between any two cities.
The fieldwork for the Worldwide Cost of Living survey is carried out by researchers from the Economist Intelligence Unit. Great care is taken to assess accurately the normal or average prices international executives and their families can expect to encounter in the cities surveyed.
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