According to a study byEconomist intelligence unit (EIU) conducted this summer, New York tops the list of the most expensive cities in the world, for the first time.
Overall, prices increased year-over-year by an average of 8.1% in more than 150 major cities around the world. This is the highest rate observed for 20 years.
But strangely, Japanese cities accustomed to the top 10 most expensive city rankings are absent this year mainly due to the weakness of the Yen. But not only.
“One of the problems with using this studio,” explains Gearoid Reidy, “is that it assumes you’re paying for everything in dollars, which obviously most venues don’t.”
And Gearoid Reidy to mention the products taken into consideration in the study: cognac, tennis balls, a magazine, tobacco, spaghetti or a compact disc…
However, these studies are designed to allow HR managers to calculate the amounts paid to expats who absolutely want to live Western-style to the highest standards.
For example, a car in Singapore is very expensive and this is one of the reasons why the city is featured in the top spots every year. But most of the inhabitants do not have one, because the public transport network is highly developed.
This product list, which serves as a reference for the study, only addresses a very small number of expats who “send their children to an elite French or American school, drive to work while their housekeeper wife takes care of the apartment and go to the theater after work before returning home for one last glass of cognac.
And nobody lives like that in New York, do they?
