LONDON – Tokyo remains the world’s most expensive city for expatriate executives, followed by Osaka, according to a survey released Thursday.
“As fans returning from the World Cup will testify, the Japanese cities of Tokyo and Osaka remain top of the tree,” said the Economist Intelligence Unit, a think tank affiliated with the Economist magazine.
The twice-a-year EIU survey, conducted in March, said the cost of living in Tokyo measures 129 while the Osaka-Kobe region comes to 127 against the base city of New York, which ranks seventh.
Coming third is Hong Kong at 115, followed by Harare at 114, Oslo at 104 and Libreville at 101.
Zurich and London share eighth place at 99, while Chicago ranks 10th at 96.
The least expensive city in the world, according to the EIU, is Tehran, where the cost of living is just 30 percent of New York.
According to the EIU survey, the cost of living in China has fallen over the past 12 months as a result of its accession to the World Trade Organization and cheaper imports. Beijing ranks 13th, with an index rating of 94.
The EIU survey compares prices and goods in more than 130 cities around the world.
Its purpose is to provide companies with an independent guide from which allowances can be calculated for executives and their families being sent overseas.
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