Eurozone countries offer good value for money for companies sending staff
overseas, claims research.
The report, called the Worldwide Cost of Living, in which 130 cities from
around the world were ranked by the Economist Intelligence Unit, shows that London
is the most expensive city in the EU, although it has dropped to eighth place
in the rankings, with Paris coming a relatively cheap 17th.
Zimbabwe’s Harare has become one of the most expensive cities in the world –
more costly than London and New York – due to its exchange rate policies. Its
government has doggedly held the Zimbabwean dollar to the US dollar, despite
enduring inflation of more than 100 per cent.
The biggest fall was taken by Argentina’s Buenos Aires, which has plummeted
from 22nd to 120th. The survey shows the Argentinian peso has been allowed to
devalue rapidly.
The costliest cities are in Asia, with the Japanese cities of Tokyo and
Osaka remaining at the top of the list – although the gap between them and Hong
Kong has narrowed.
