Living in China: Shanghai now more expensive than New York
Tokyo is still the world’s most expensive city to live in and Oslo and Osaka still make the top five, but the Worldwide Cost of Living 2011 survey just released from the Economist Intelligence Unit also revealed some dramatic changes in the last year.
Australia has become one of the biggest risers, with the strong Aussie dollar lifting costs in Sydney (6th most expensive city), Melbourne (7th), Perth (13th) and Brisbane (14th) to their highest levels.
The survey shows how economies have shifted over the past 10 years, with especially Asian cities becoming cheaper. Hong Kong, from third place 10 years ago is now 22nd, Shanghai falls from 16th to 48th and Beijing falls from 11th to 64th.
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