Holidaymakers planning a city break this year should perhaps look beyond Europe if they hope to get by on a budget.
According to the Worldwide Cost of Living Survey from the Economist Intelligence Unit, Oslo is once again the most expensive city in the world, ahead of Paris, Copenhagen and London.
Norway's capital overtook Tokyo last year to top this ignominious poll and it has retained its status as the most costly of the 132 cities examined. Tokyo has in fact slipped down to fifth in this year's study, as European cities begin to dominate the top positions.
Indeed, Tokyo and Osaka are the only two non-European cities to make the top ten, with Reykjavik, Zurich, Frankfurt and Helsinki all now considered among the dearest cities in the world.
Surprisingly, perhaps, New York is now ranked as the 28th most expensive destination, behind Moscow, Amsterdam and Dublin. Ireland's capital city is now the 20th most expensive city, down from 16th place last year.
Those keen on staying within Europe without breaking the bank should perhaps consider Athens, in 55th position, or Lisbon, placed 59th in the list of the most expensive cities.
Latin America could perhaps offer an even cheaper holiday, with a quarter of the least expensive 30 cities in the world. Guatemala City is now the region's most expensive destination, but is still ranked just 63rd in the overall list. Mexico City is the second most expensive in 68th position.
Incredibly, time spent in Atlanta will be 50 per cent cheaper than an equal amount of time spent in Oslo. Many North American cities are in fact slipping down the league table, as popular Canadian destinations become more and more expensive. Vancouver, in 34th position, is continuing to close the gap on New York, as is Montreal in 36th place.
The cost of living in a number of African cities also fell in this year's study. Johannesburg and Pretoria both fell 23 places, largely because of a weak rand.
Destinations that may well prove significant in future include Nouma, in New Caladonia, Nepal's Kathmandu and Suzhou and Oingdan in China, all of which were added to the global ranking this year.
© Adfero Ltd
