Oslo is the world’s most expensive city!

Oslo is the world’s most expensive city!

Japan can feel a little less proud today. Norway’s capital city Oslo has now overtaken Tokyo to become the world’s most expensive city to live in! This was revealed in a report released by the Economist Intelligence Unit, which conducts a biannual study on this topic. It is for the first time in more than a decade that Tokyo has failed to top the study.

EIU said in a statement on this study results: “Norway has seen strong economic growth following a recovery in 2004, enjoying high consumer confidence, rampant investment, and still-low interest rates. Despite spending so long at the top, the displacement of Tokyo comes as little surprise. A gradually weakening yen has been compounded by years of low inflation and deflation.”

The survey also highlights some interesting trends. Eight of the top 10 cities and as many as 20 of the top 30 cities in the list are from Western Europe. USA is not that expensive considering its most expensive city New York came on at 27th place. Chicago came at 35th and Los Angeles following it.

The top 10 list:
1 Oslo – Norway
2 Tokyo – Japan
3 Reykjavik – Iceland
4= Osaka Kobe – Japan
4= Paris – France
6 Copenhagen – Denmark
7 London – U.K.
8 Zurich – Switzerland
9 Geneva – Switzerland
10 Helsinki – Finland

Leave a Reply