2005 Worldwide Cost of Living Survey
According to Mercer Consulting, London is now the third most expensive city in the world. Last year it was numer two. Now if only it could drop some more on the list….
Mercer’s survey covers 144 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. It is the world’s most comprehensive cost of living survey and is used to help multinational companies and governments determine compensation allowances for their expatriate employees.
London remains the most expensive city in Europe, with a score of 120.3. “Steep accommodation and transport costs together with the appreciation of the pound against the US dollar have contributed to the city’s high ranking,” said Marie-Laurence Sepede, Research Manager at Mercer. Scores are based on the cost of living for expatriates who are likely to stay in Central London, where accommodation is more expensive. Other UK cities are less costly, with Glasgow in 40th position and Birmingham in 47th place (scores 87.5 and 85.8).