Friday, October 14, 2011

Cost of Living Europe - October 2011

Europe’s most expensive cities are mostly those that are not on the Euro. The most expensive city in Europe is Geneva (ranked 2 in the world), followed by Zurich (ranked 3), making Switzerland the most expensive country in Europe if not the world. Switzerland's currency has risen by 43% against the euro between the start of 2010 and mid-August this year. The Swiss National Bank, which conducts Switzerland’s monetary policy as an independent central bank, recently announced that it will enforce a minimum exchange rate of CHF 1.20 to the Euro. The Swiss National Bank said that even at a rate of CHF 1.20 per euro, the Swiss franc is still high and should continue to weaken over time. If the economic outlook and deflationary risks so require, the SNB will take further measures.

The ten most expensive cities in Europe (Global rank in brackets):
1. Switzerland, Geneva (2)
2. Switzerland, Zurich (3)
3. Liechtenstein, Vaduz (5)
4. Norway, Oslo (8)
5. Russia, Moscow (9)
6. United Kingdom, London (14)
7. Denmark, Copenhagen (16)
8. Monaco, Monaco (21)
9. France, Paris (23)
10.United Kingdom, Glasgow (26)