Oslo most expensive city in the world, Toronto joins top ten list

Oslo - A new report from the Swiss wealth management company, UBS AG, shows that Oslo is the world's most expensive city to live in. Canadian cities Toronto and Montreal have now joined the top ten list.

With the global economic structure collapsing, unemployment remaining high and the purchasing power of many currencies stagnant, it would be quite difficult for one to live any city in the top ten list of the world’s most expensive cities. On Wednesday, UBS AG released a new report highlighting the world’s most expensive cities, which put Oslo at number one, London in number ten and Toronto and Montreal joining the latest list. The Swiss wealth management agency’s report was called “Prices and Earnings: a global purchasing power comparison” and ranked 73 cities across the globe, while also showing the cities with the lowest cost of prices for goods and services: Bucharest, Manila and Mumbai. The survey further showed that cities Zurich, Sydney and Miami had higher purchasing power due to hourly wages. Toronto ranked 14th and Montreal was at spot 14. The lowest purchasing power was found in Jakarta, Manila and Nairobi. The full top ten list can be found below: 1. Oslo 2. Zurich 3. Geneva 4. Tokyo 5. Copenhagen 6. New York 7. Stockholm 8. Toronto 9. Montreal 10. London