According to the annual Cost of Living Survey of Mercer, London is currently placed as the 19th costliest city for expatriates in the world. The capital of the City rose by ten places since the survey that was conducted last year.
The rankings include 209 cities that are located across five continents. It measures the comparative cost of more than 200 items in every location.
Even though it may not come as a surprise to those who regularly goes to the cinema, London is considered as the most expensive city in the world for cinema tickets, with the price of viewing an international release averaging at around £16.79.
The result places the City firmly ahead of Zurich, its runner-up where the average cost of a cinema ticket costs around £14.55.
Going outside big-screen entertainment, London also ranks as the sixth most expensive city for gasoline, surpassed only by Frankfurt, Paris and Copenhagen in Europe, and Hong Kong and Seoul in Asia.
However, the capital is considered to be much better when it comes to the price of milk and bread as compared to the other top cities. For example, the price of one kilogram of white bread in Luanda is £12.87. Even though no other city came close to this, in cities including New York and Shanghai, a kilo would cost £5.29 and £6.25, respectively.
In London, the same costs only £1.69, with Johannesburg considered as the only city where bread is cheaper.
Even though all the cities in Western Europe have witnessed an increase in their rankings as a result of the strong local currencies in comparison to the US dollar, cities in Asia represent four of the top five costliest cities in the world for expatriates. The top spot belongs to Hong Kong.
Other cities in the United Kingdom that have seen a rise in their rank include Belfast, Aberdeen and Birmingham, which have leapt forward by 18, 12, and 19 spots respectively.
Mercer’s global mobility practice leader for the UK & Ireland, Kate Fitzpatrick, stated: “A drop/decrease in rental accommodation prices in London held back London’s increase while rental increases in Birmingham and Belfast contributed to the ranking increase in these cities.”