Paris has been named the world’s second most expensive, meaning it’s more expensive than Oslo, Zurich and Sydney. But reports indicate it’s not bad news.
Despite weak confidence in the euro, Paris remains extremely expensive to live in compared to other European cities.
Although Paris has typically always been expensive part of that is due to the high real estate prices that trickle down to retail prices, but in turn high wages also make a difference in comparison to how people live. The thought is that with a higher cost of living with adequate salaries means that citizens have a higher purchasing power.
The study of 133 global cities is carried so organizations know more about the cost of living in cities where they have employees. The study looks at the cost of living in ten categories from alcohol goods and groceries to the cost of clothing, utilities and tobacco. Paris is ranked high in all categories except for the cost of alcohol and tobacco.
It is speculated that with the weakening euro, Paris is expected to fall in the rankings next year. Paris is also proven to be expensive compared to other cities when it comes to the cost of clothes and entertainment.
Photo by Ben//Flickr