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London climbed up expensive cities list June 18, 2007

Posted by grhomeboy in Lifestyle.

London has climbed the list of the world’s priciest cities and is now second only to Moscow for expatriate living expenses, the Mercer cost of living survey has shown.

The UK capital has risen three places in the last year alone, overtaking Seoul and Tokyo, while European cities have also risen sharply alongside euro exchange rates.

Stockholm has climbed from 36th most expensive city to 23rd, Amsterdam from 41st to 25th, and cities in Spain, Greece, Germany have also moved sharply upwards.

US cities have slipped on the scale in line with the weakening dollar however, with New York and Los Angeles the only cities left in the top 50, at 15 and 42 respectively.

The Mercer survey, which claims to be the most comprehensive of its type, compares the cost of 200 products and services in 143 cities around the world.

‘The relative strength of the euro and other European currencies has pushed up the living costs faced by expatriates in many European countries,’ said Mercer research manager Yvonne Traber. ‘The change reflects a reversal of the situation experienced this time last year, when the majority of US cities climbed the ranking due to the strength of the dollar.’

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