There are many cities in the world with high costs of living. New York, Los Angeles, Tokyo, Dubai, etc. However, when it comes to the most expensive city in the world to live in: London takes the prize.
Who Else Makes The List?
The United States is well represented. A quarter of the top 20 most expensive cities in the world are in the United States. In fact, New York (at a yearly cost of over £79,000) comes in just behind London. This punctuates the fact that American cities are becoming increasingly difficult to live in.
The index below is aimed at giving employers an idea of the cost of accommodating an employee in cities around the world. Head of World Research at Savills, Yolande Barnes, says:
“The productivity of cities and their value to global businesses clearly has a pronounced effect on demand and hence rental costs.”
The highest-ranking cities for productivity, such as London and New York, are also the most expensive to live and work in. Barnes adds:
“World cities can become a victim of their own success when rents rise to the point where affordability becomes an issue.”
Read full article here.
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