What is Mercers Cost of Living information report about?
7 July 2009: Tokyo has replaced Moscow as the most expensive city in the world for US expatriates according to the latest Cost of Living Survey from Mercer. Osaka is in second position, up nine places since last year, whereas Moscow is now in third place. Geneva climbs four places to fourth position and Hong Kong moves up one to reach fifth. Johannesburg has replaced Asunción in Paraguay as the least expensive city in the ranking. Similar research by ECA International puts Luanda (Angola) first, with Tokyo second. A report published by the Swiss Bank UBS says London was the world’s most expensive city, followed by Oslo and Dublin. The fundamental flaw of all cost surveys is that they convert local prices into US dollars, which means that any changes are as much the result of currency fluctuations as of price inflation. In surveys by ECA, UBS, Mercer and EIU the cost of living in cities outside the US dollar zone becomes more expensive if the dollar weakens against local currencies even
