London becomes world’s fifth most expensive city

Posted on 24 September 2015. Tags: Becomes, city, Expensive, fifth, London, Most, world's

London is the fifth most expensive city in the world in which to live and work, but its workers are not among the top 10 average earners globally. The findings, from UBS, the Swiss bank, show that the widely held belief among Londoners that the city is painfully pricey to live in has some basis in reality.

This suggests London isn’t a highly priced labour market in terms of the purchasing power of goods labour remains quite competitive from a business perspective.

Excluding rent, London is the sixth most expensive city in the world, and workers’ gross earnings are, on average, the 13th highest.

Contributed By Sonia Narula

News of Delhi