UBS Studies Purchasing Power Around the World

A global comparison of purchasing power in 71 cities around the world. Among their findings:

• Four European cities and Tokyo most expensive.
• Highest wages in Scandinavia, Switzerland and the US.
• With the highest net wages, Zurich and Geneva, followed by Dublin, Los Angeles and Luxembourg, lead the pack in purchasing power.
• People in Asia work the longest hours – almost 50 days more per year than Western Europeans.
• Asian workers at least partially compensate for low purchasing power through longer working hours.
• Seoul has the highest, Paris the lowest working hours.
• Oslo, London, Copenhagen, Zurich and Tokyo are the world’s most expensive cities in relation to a standardized basket of 122 goods and services.