• Norway edition
 
Oslo is world's priciest city: study
Photo: Berit Roald/Scanpix

Oslo is world's priciest city: study

Published: 14 Sep 2012 15:05 GMT+02:00
Updated: 14 Sep 2012 15:05 GMT+02:00

Oslo, Zurich and Tokyo are the world's most expensive cities, but it is in the Swiss financial capital that residents enjoy the strongest purchasing power, according to a study published Friday.

These three cities are the most costly on the planet when comparing prices for 122 goods and services, according to Swiss bank UBS, which carried out the analysis of purchasing power in 72 cities around the world.

"When rents are added to the mix, New York, Hong Kong and Dubai jump up in the list," the bank pointed out.

Not counting rents, New York is only in sixth place, Dubai ranks 22nd and Hong Kong 32nd.

The Indian cities of Delhi and Mumbai meanwhile have the lowest cost of living, the study showed.

These two cities also bring up the rear in terms of gross salary levels, with workers there on average receiving just six percent of the average wage in list-leader Zurich.

Geneva, another Swiss city, comes in second in the salary ranking, followed by Copenhagen, UBS said, adding though that after tax the Danish capital is bumped by Luxembourg.

Workers in Oslo, which according to the study is the world's most expensive city, meanwhile enjoy the fourth highest wages on the planet.

Zurich is also a winner in terms of purchasing power, with the net hourly wage in the city buying the most goods and services, UBS said.

"Workers in Zurich can buy an iPhone after 22 hours work. In Manila, by contrast, it takes around 20 times longer," the bank pointed out.

Don't miss...X
Left Right

Your comments about this article

Today's headlines
Excavator operator gets $2,000 after outcry
John Erik Tveitdal shows off the money he found in the safe he broke open. Photo: Norsk Gjenvinning Group

Excavator operator gets $2,000 after outcry

The businessman who mistakenly dumped an old safe containing 117,000 kroner ($19,200) at a recycling centre has given a 12,000 kroner reward to the excavator operator who cracked it open and found the money. READ () »

'They loved nature: that's why they were there'
Helicopter comes with three of the four missing men found in the landslide area in Sunndalsfjella. Photo: Berit Roald / Scanpix NTB

'They loved nature: that's why they were there'

Henning Nilsen, 37, from Trondheim, has told Adressa.no of his grief at losing two of his best friends in the avalanche in the Sunndalsfjella mountains on Monday. READ () »

Three boys arrested for taping girl to  railing
Russ in Oslo in 2012. None of these people were involved in taping a girl to a bar. PHOTO: Berit Keilen / NTB SCANPIX

Three boys arrested for taping girl to railing

Police have arrested three out-of-contol Norwegian high-school students after they taped a 17-year-old girl to a railing in a park in Sandnes, south of Bergen, and pelted her with eggs and flour. READ () »

Union could take 1,300 Norwegian staff on strike
One of Norwegian's new Dreamliners arriving from New York at Stockholm Arlanda airport - Johan Nilsson / NTB Scanpix

Union could take 1,300 Norwegian staff on strike

Norway's Parat Union has threatened to take more than 1,300 Norwegian Airlines employees out on strike if the airline does not agree to a joint collective bargaining agreement for the cabin crew by April 30. READ () »

Police free Norwegians jailed for wolf hunt

Police free Norwegians jailed for wolf hunt

The three Norwegians jailed last week pending trial for taking part in an illegal wolf hunt were released on Wednesday, allowing them to spend Easter with their families. READ () »

Video
Norway's Solli gets the weirdest yellow card ever
Jan Gunnar Solli when playing for the New York Bulls. Photo: Joscarfas/Wikimedia Commons

Norway's Solli gets the weirdest yellow card ever

Norwegian footballer Jan Gunnar Solli displayed some unorthodox ball play on Monday evening, catching a pass by lifting up his football shirt and slipping the ball inside. Sadly, the referee didn't see the funny side and promptly served Solli with a yellow card, READ () »

Norway PM backs gay church weddings
Prime Minister Erna Solberg in Parliament in Oslo on Wednesday morning. Photo: Lise Åserud / NTB Scanpix

Norway PM backs gay church weddings

Norway's Prime Minister has declared her support for gay church weddings, although she argues the decision on whether to allow them is up to the Church of Norway. READ () »

Four missing skiers found dead in Norway
Helicopter comes with three of the four missing men found in the landslide area in Sunndalsfjella. Photo: Berit Roald / Scanpix NTB

Four missing skiers found dead in Norway

Rescue teams on Wednesday morning found and brought home the dead bodies of all four of the skiers who went missing in Norway's Sunndalsfjella mountains on Monday afternoon. READ () »

Badger gets stuck in car grille and survives
The badger stuck in Borgar Kristensen's car last year. Photo: Borgar Kristensen

Badger gets stuck in car grille and survives

A badger in Norway got hit so hard in a car collision that it became wedged into the grille. But when the driver levered it out with a stick, to his amazement the animal scampered away into the nearby woods. READ () »

Top Putin aide was in Oslo for oil talks: Statoil
Igor Sechin in 2009 when he was Russia's Deputy Prime Minister. Photo: Ignat Solovey/WIkimedia Commons

Top Putin aide was in Oslo for oil talks: Statoil

Igor Sechin, one of the most powerful figures in Vladimir Putin's Russia, was in Oslo this month to hold talks with Statoil over its international projects, Reuters reported on Tuesday. READ () »

RECEIVE OUR NEWSLETTER AND ALERTS
Society
VIDEO: Norway police's chilled way with drunk wows US
Education
VIDEO: Norway skydiver dodges meteorite
National
Oslo shortlisted for Green Capital 2016
International
Work to start on world's tallest wooden house
Culture
NRK boss: Slow TV 'difficult to joke with'
International
Stoltenberg named as next Nato boss
Society
'Silly walk' sign enrages roads agency
Norwegian tattoos McDonald's bill on arm
Sport
Norwegian man 'forgets' luxury boat for two years
Society
VIDEO: Oslo transformed into miniature city
International
GALLERY: Nato troops' Arctic 'selfies'
International
Feature: Why Jens Stoltenberg is a natural choice for Nato
Advertisement:
International
Norwegian troops get unisex dorms
Travel & Tourism
Trolltunga 'most stunning place for a selfie'
Society
Caffeine-fuelled game binge puts boy in coma
Culture
VIDEO: Norway's 'reality TV with wild birds'
Culture
VIDEO: Bouncer wins Norway Eurovision spot
Culture
VIDEO: Norway fans in awesome Sherlock skit
National
Two new Oslo eateries win Michelin stars
International
Masked Russians seized our gear: Norway journos
National
Lingo cops beat sweet maker in jelly-baby battle
International
US court gives Norway Bieber fraudster 11 years
Society
VIDEO: 7-year-old channels Billie Holiday
Latest news from The Local in Switzerland

More news from Switzerland at thelocal.ch

Latest news from The Local in Germany

More news from Germany at thelocal.de

Latest news from The Local in Spain

More news from Spain at thelocal.es

Latest news from The Local in France

More news from France at thelocal.fr

Latest news from The Local in Italy

More news from Italy at thelocal.it

Latest news from The Local in Sweden

More news from Sweden at thelocal.se

326
jobs available