UBS: Asia is cheap
Four of five world’s lowest-cost cities are in Asia
A UBS survey shows Manila, New Delhi, Buenos Aires, Mumbai and Kuala Lumpur are the five cheapest cities on earth to live in. The survey is based on a standardized basket of 122 goods and services. Key findings:
–Oslo, London, Copenhagen, Zurich and Tokyo are the world’s most expensive cities.
–With the highest net wages, Zurich and Geneva, followed by Dublin, Los Angeles and Luxembourg, lead the pack in purchasing power.
–People in Asia work the longest hours – almost 50 days more per year than Western Europeans.
–Asian workers at least partially compensate for low purchasing power through longer working hours.
Another useful factoid: In most places, people must work 35 minutes to earn enough to buy a Big Mac.