Copenhagen Ranked Fifth Most Expensive City
Investment firm UBS recently published an update to the 2009 “Prices and Earnings” study evaluating the global purchasing power of 73 cities around the world and ranked Copenhagen as the fifth most expensive city in the world next to Oslo, Zurich, Geneva and Tokyo followed by New York. The year prior Copenhagen ranked third next to Oslo and Zurich. The study also reveals that Zurich, Denmark and Switzerland have the highest salaries among the cities evaluated in the study, and Zurich, Sydney and Miami have the highest purchasing power.
The last time I picked up on a similar study evaluating cost of living was in 2008, when Copenhagen ranked as the eight most expensive city by Mercer’s Cost of Living Index. Moscow ranked number one in that study. In the 2010 report, published in June this year Copenhagen ranked 10th, with Luanda, Tokyo, N’Djamena, Moscow, and Geneva ranking in the top five.
That’s great – aren’t we lucky. I think, the Forbes rankings have had CPH 5th for the last few years. But I am not sure & I do not know what the criteria are for all these different polls. Anyone has been around the world knows that CPH & Denmark are very expensive & have the highest total taxation rate if you live a “normal” Western lifestyle which includes private automobile, modern home appliances, & typical consumerism patterns. So for sure the gross salaries/wages/incomes are higher to offset this. You earn more – things cost more. I would be interested to see a study where the criteria would be “quality of life”* (not just the self serving / nationalistic vote for your country “happiness” poll). *People are certainly free to disagree with what the criteria for that poll would be. Would -should climate / weather be a factor?
Yes, it is all rather interesting the way it’s broken down and evaluated. I too agree that weather should play a role in the happiness factor and also quality of life! 🙂 Said from a typical fall rainy, gray day in the rather expensive yet not-to-forget delightful city of Copenhagen.
Here is a 12 minute U Tube video that my son sent me from US TV “60 minutes” done 2 years ago. It has an interesting take on our above discussion, that I had not considered before.