2 Most Expensive Cities in the World

Moscow: The Most Expensive City in the World

According to Mercer's research in 2007 Moskow is to be world's and Europe's most expensive city for the second consecutive year. Mercer's “Cost of Living Survey” covers 143 cities across continents and measures the comparative cost of over 200 items in each location, including housing, transport, food, clothing, household goods and entertainment.
“The appreciation of the Rouble against the US Dollar, combined with ever-increasing accommodation charges, has driven up costs for expatriates in Moscow,” said Yvonne Traber, research manager and senior associate at Mercer.

London: 2nd Most Expensive City in the World

Unlike in 2006 London takes the 2nd position on the list of most expensive cities, climbing tree places in one year.
As Ms Yvonne Traber commented “Steep property rental costs, together with the strengthening of the British Pound compared to the US Dollar, have contributed to the London’s high ranking.”

New York remains the most expensive city in America, but drops five places on the world’s list to position 15.
The title of the most expensive city of Asia belongs to Seul, and Sydney remains the most expensive city in Australia.