TranceAddict Forums (www.tranceaddict.com/forums)
- Canada - Toronto & Southern Ont.
-- Moscow - world's most expensive city 2006

Moscow - world's most expensive city 2006

quote:

World's most expensive cities Moscow surpasses Tokyo as priciest metropolis. Asuncion, on the other hand, is still a big bargain. By Jeanne Sahadi, CNNMoney.com senior writer June 26 2006: 10:00 AM EDT NEW YORK (CNNMoney.com) -- The vodka may be cheap, but according to the latest cost-of-living survey from Mercer Consulting, Moscow now ranks as the world's most expensive city, edging out Tokyo, which held the No. 1 spot for four straight years. Moscow ranked No. 4 last year, but rose through the ranks for a few reasons, according to Mercer senior consultant Rebecca Powers. The currencies of Tokyo, Osaka and London -- the top 3 cities last year -- fell relative to the dollar, while the Russian ruble remained fairly stable. Plus, Powers added, the price of housing for expatriates in Moscow has risen considerably in the past 12 months. The weakened yen places Tokyo in the No. 3 spot, just behind Seoul, while Osaka fell to No. 6. London, meanwhile, still makes a pricey showing at No. 5, making it the second most expensive city in Europe behind Moscow. It's followed by Geneva, which ranks No. 7 worldwide. "For many companies it can now be more expensive to send employees to work in Russia or Korea than places like Japan or Switzerland, which are often perceived to be more costly," Powers said in a statement. The survey uses New York City, ranked No. 10, as its cost base -- scoring it at 100. Then it compares the prices of more than 200 items, including housing, household goods, food, entertainment and transportation in 144 cities around the globe. Mercer found that Moscow costs 24 percent more than Gotham, while Asuncion, the perennial last-place finisher, costs about 56 percent less than life in the five boroughs. In the United States, the most expensive cities are New York, Los Angeles (No.29 worldwide), San Francisco (No. 34) and Chicago (No. 38). In Latin America, Sao Paulo (also ranked No. 34) and Rio de Janeiro have the highest cost of living, while in in Asia, the most expensive cities are Seoul, Tokyo and Hong Kong (No. 4). Eastern European cities like Budapest (No. 65) and Prague (No. 50) that don't use the euro dropped in the rankings from last year as local currencies fell against the dollar. Sydney at No. 19 remains the costliest city in Australasia, far ahead of Melbourne (No. 74) and Brisbane (No. 99). The cheapest cities in the world are Paraguay's Asuncion, Zimbabwe's Harare, Buenos Aires, Manila, Pakistan's Karachi, India's Bangalore and Uruguay's Montevideo. To give a sense of just what life costs in various cities, Mercer priced out the cost of a two-bedroom unfurnished apartment, a cup of coffee served, a fast food meal and an international paper. In Moscow, the apartment will run you $3,000, the coffee $5.27, the paper $3.40, and the burger with fries $3.87. By contrast, Buenos Aires provides a better deal price-wise, to say nothing of warmer temperatures. You can nab the apartment for $999, the coffee for $1.47, the paper for $4.55 and the happy meal for $2.77. Top 10 most expensive cities 1. Moscow 2. Seoul 3. Tokyo 4. Hong Kong 5. London 6. Osaka 7. Geneva 8. Copenhagen 9. Zurich 10. Oslo, New York (tied) Source: Mercer Consulting

Source: http://money.cnn.com/2006/06/23/pf/...ities/index.htm

In other news, I think I'm moving to Buenos Aires

I passed through Moscow on Tuesday. Moscow, New York though

mmmm Buenos Aires!

In contrast, Russia is one of th epoorest countries in the world. Talk about a nice distribution of income.

quote:

Originally posted by Cosmic Fur In contrast, Russia is one of th epoorest countries in the world. Talk about a nice distribution of income.

I wouldn't call it one of the poorest, but you're right on the money there.

These rankings are a sham.

Why?

Because it takes into account a dollar amount. Dollars mean nothing outside of the US.

What this fails to demostrate is the cost of living as COMPARED TO INCOME. Now this is whats important. Sure you can say that tokyo or moscow are the most expensive cities but what if they draw the highest incomes in the world? Not so expensive then is it?

As for buenos aires rent being $999US a month. Bullshit! I had a 2 bedroom modest apart there for $140 canadian a month. $999US? For a luxury penthouse suite beyong your imagination maybe! And coffee is never more than 40 or 50 cents unless you go to some upscale tourist trap.

But yes no doubt that Buenos Aires is dirt cheap if you earn dollars in the US. But try telling an Argentine that buenos aires is a cheap place to live!

Note the cost of food in Moscow is $3 and change for a burger and fries.

Whats the cost of a meal here after tax? $7 and change?

I rest my case!

Jayx1, I can guarantee you that in general, Moscow citizens earn a below the poverty-rate level incomes as compared to Canada (according to this, poverty line in Canada is about $20,000 per annum, depending on conditions; average monthly income in Moscow, is about $700 US, which works out to be about $10,000 CAN per annnum).

However, due to the structure of life in Moscow, foreigners pay A LOT more for everything in Moscow than do the locals. This explains it well:

quote:

Wikipedia: Some prices are considerably higher for the foreign visitor than for locals. The 2006 cost of living survey by Mercer Human Resource Consulting [8] puts Moscow on the first place in the world while the 2005 cost of living survey by Mercer Human Resource Consulting put Moscow on fourth place in the world, making it the second most expensive city in Europe after London. However, this survey mostly reflects the costs of multinational corporation employees when transferred abroad and it is in sharp contrast with the costs of average citizens. For natives, small apartments bought or given by the state in the Soviet era, coupled with extremely low utility costs and easily avoidable income tax serve to lower the cost of living greatly. A look at transport prices offers a good illustration. A taxi from Sheremetyevo International Airport will cost the non-Russian speaking traveller upwards of $150; the Russian speaking foreigner will be charged $30-$40. The native Moscow dweller will negotiate the price to $15-20 or will avoid the taxi rank altogether and take a marshrutka (shuttle, shared taxi) to the nearest metro station for about 0.5 dollar.

another part of the equation that should be taken into account.

The problem is that people in every day life take these studies at their word. And unfortunately these studies mean virtually nothing.

In my own personal experiences, having been to many of those cities, i find the results to be very flawed.

Id like to see how these cities really rank after real income vs costs are factored in. And also after the "tourist tax" factor is taken away.

In my travels, i find toronto is one of the most expensive cities in the world when it comes to after tax salaries vs cost of living. Definately when it comes to food and rent. I would most certainly say that its most likely more expensive than london or geneva when actual salaries are taken into account.

Re: Moscow - world's most expensive city 2006

quote:

Originally posted by starsearcher Source: http://money.cnn.com/2006/06/23/pf/...ities/index.htm In Moscow, the apartment will run you $3,000, the coffee $5.27, the paper $3.40, and the burger with fries $3.87.

A lunch that's cheaper than a coffee?
They need to get a Tim Hortons over there...

quote:

Originally posted by Jayx1 Note the cost of food in Moscow is $3 and change for a burger and fries. Whats the cost of a meal here after tax? $7 and change? I rest my case!

in metropolis, a burger and fries would cost ya over $15 sometimes. you haven't lived there so don't post what you haven't seen with your own eyes.

moscow has the most millionaires living in a city. that's a shame cuz the rest of the country is not in the best situation but whatever nothing can be done about politics anyway.

clubbing perspective: entrance to some clubs there is easily 50-100 euro. oh ya, vodka + red bull = $25 american.

all i got to say is to live in moscow isn't that bad, if you live in suburbs somewhere and eat bread for .05 cents. but to live in downtown moscow is like having dinner everyday at 360 restaraunt and then strolling along yorkville all night long. all this times 5!!

And 80% of these so called millionaires in Moscow have made their money in schemes and illegal ways for sure.

Re: Re: Moscow - world's most expensive city 2006

quote:

Originally posted by AdReNaLiNa A lunch that's cheaper than a coffee? They need to get a Tim Hortons over there...

you call Tim Hortons a coffee?

Re: Re: Re: Moscow - world's most expensive city 2006

quote:

Originally posted by Sasha you call Tim Hortons a coffee?

+ 1

quote:

Originally posted by starsearcher And 80% of these so called millionaires in Moscow have made their money in schemes and illegal ways for sure.

ROFL. You're so wrong.








































































It's 100%.

^^ lol well...you said it

Hong Kong is actually a ludicrously cheap place to live... if you're middle class you can eat out for like... $5 cdn... dinner. Internet connections are cheaper and faster etc etc... It all depends on how you live in the city. And I really doubt they have experts who have lived in even the top 30 ranked cities.

The best measure of wealth in a country is actually purchasing power parity... but that would defeat the purpose of measuring the most expensive city..

Re: Re: Re: Moscow - world's most expensive city 2006

quote:

Originally posted by Sasha you call Tim Hortons a coffee?

I never said it was GOOD coffee
Second Cup FTW

Powered by: vBulletin
Copyright © 2000-2021, Jelsoft Enterprises Ltd.