Forbes Names World's Most Expensive Cities
Moscow Tops Cost of Living Index as Most Costly City in the World
The cities of the world have been ranked for cost of living in the "World's Most Expensive Cities" article published by Forbes. Travel to the most expensive cities in the world comes at a high premium for vacationers and business travelers. Moscow, Russia tops the list, as the most expensive city in the world based upon cost of living. Moscow is followed by Tokyo, London, Oslo, Seoul, Hong Kong, Copenhagen, Geneva, Zurich, Milan, Osaka, Paris, Singapore, Tel Aviv and Sydney.
Forbes based the list of the findings of Mercer's 2008 Cost of Living Survey. Moscow, Russia has a cost of living that is 42% higher than New York. New York is the most expensive city in the United States, but did not make the top 15. New York ranked 22 on the list, down from the number 15 spot last year.
The drop in the comparative cost of living may serve to make the United States a most attractive location for global business and commerce. Travel in the United States is currently a bargain, compared to many other cities around the world.
Following are the top 15 most expensive cities in the world, based on cost of living.
- Moscow, Russia. Moscow was in crisis just ten year ago, but now the Russian economy is booming and the cost of living in the capital city is high.Travelers who wish to see the former Communist city pay dearly for the privilege. Still, Moscow is a historic city and an exotic location for travelers. Historic attractions such as the Kremlin, Red Square, ornate domes of St. Basil's Cathedral and the sparkling gold domed Cathedral of Christ the Savior have been a part of our collective consciousness for a lifetime. Russia. Moscow has earned the title of the world's most expensive city three years in a row. Less than two decades of the fall of communism, Moscow is home to more billionaires than any other metropolis in the world.
- Tokyo, Japan. Tokyo is the capital of Japan and the largest city in the country. The economy may be stagnating in Japan, but the city is as expensive as ever for travelers from America.
- London, U.K. London is an ancient city, founded by the Romans nearly 2,000 years ago. London has long been one of the most popular travel destination in the world, with attractions including The Tower of London, Buckingham Palace and much more. London slipped from the number 2 spot it had last year, but continues to be extremely expensive for travelers.
- Oslo, Norway. Thanks to an infusion of wealth due to the country's booming oil industry, Oslo has jumped from number 10 to number 4.
- Seoul, South Korea. The capital of South Korea is the most expensive city in Asia, outside of Japan.
- Hong Kong, China. It has been 11 years since Hong Kong returned to the control of the Chinese after a century of being British. Hong Kong is nearly 20% more expensive than New York.
- Copenhagen, Denmark. The capital of Denmark is named by Danish words that literally mean "merchant's harbor." Copenhagen is the third most expensive city in Europe.
- Geneva, Switzerland. The cost of living in Geneva is almost 50% higher than in Chicago or San Francisco.
- Zurich, Switzerland. Zurich was founded in ancient Roman times as a tax collecting and trading post. Zurich continues to be a vital cog in the world economy.
- Milan, Italy. Milan is the biggest city in northern Italy and one of the most stylish cities on the planet.
- Osaka, Japan. Osaka is the culinary capital of Japan and the fourth most expensive city in all of Asia.
- Paris, France. Paris, with the famous Eiffel Tower and Champs-Elysees is considered the most romantic city in the world.
- Singapore, Singapore. The cost of living is more than 25% higher than that of Los Angeles.
- Tel Aviv, Israel. The most expensive destination ins the Middle East has more billionaires per capita than any other country in the world.
- Sydney, Australia. The most expensive city on the Australian continent is home to world cultural landmarks like the Sydney Opera House.
