Melbourne & Sydney Are Two Of The Most Expensive Cities In The World

A global survey has revealed that due to the strong Aussie dollar Sydney, Melbourne, Perth and Brisbane are amongst the world's most expensive cities.

In a survey recently conducted by the Economist Intelligence Unit's Worldwide cost of living it was revealed that it is currently cheaper to live in London, Vienna, Berlin, Rome Hong Kong and Beijing, rather than in most Australian Capitals.

Sydney Most Expensive City in Australia

Sydney has now become the sixth most expensive city in the world, up from 32nd place two years ago, while Melbourne has jumped from 38th to seventh place.

Perth & Brisbane are ranked 13th & 14th which is almost 25 per cent more expensive than New York City.

The survey also showed that Australian Cities were amongst the most expensive for business trips, and that Tokyo, Osaka, and Oslo were amongst the three most expensive cities in the world.

From the 140 cities used in the survey it revealed that Mumbai, Tunis and Karachi were the cheapest.

Mr. Copestake author of the survey warned that visitors' numbers could fall if Australia's cost of living continued to rise. But we should not forget the same Economist Intelligence Unit reported earlier in 2011 that Melbourne and Sydney are also two of most liveable cities in the world...

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Published on July 7-th, 2011 in Insurance
Damon Rasheed is the CEO of Rate Detective, an Australian financial service comparison sites specialising in Life Insurance, Income Protection Insurance and home loans. Damon holds a Master's Degree in Economics from the University of Melbourne and has been involved in many start-up internet businesses.
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