Best of the Week
Most Popular
1. Investing in a Bubble Mania Stock Market Trending Towards Financial Crisis 2.0 CRASH! - 9th Sep 21
2.Tech Stocks Bubble Valuations 2000 vs 2021 - 25th Sep 21
3.Stock Market FOMO Going into Crash Season - 8th Oct 21
4.Stock Market FOMO Hits September Brick Wall - Evergrande China's Lehman's Moment - 22nd Sep 21
5.Crypto Bubble BURSTS! BTC, ETH, XRP CRASH! NiceHash Seizes Funds on Account Halting ALL Withdrawals! - 19th May 21
6.How to Protect Your Self From a Stock Market CRASH / Bear Market? - 14th Oct 21
7.AI Stocks Portfolio Buying and Selling Levels Going Into Market Correction - 11th Oct 21
8.Why Silver Price Could Crash by 20%! - 5th Oct 21
9.Powell: Inflation Might Not Be Transitory, After All - 3rd Oct 21
10.Global Stock Markets Topped 60 Days Before the US Stocks Peaked - 23rd Sep 21
Last 7 days
Fake It Till You Make It: Will Silver’s Motto Work on Gold? - 19th Jan 22
Crude Oil Smashing Stocks - 19th Jan 22
US Stagflation: The Global Risk of 2022 - 19th Jan 22
Stock Market Trend Forecast Early 2022 - Tech Growth Value Stocks Rotation - 18th Jan 22
Stock Market Sentiment Speaks: Are We Setting Up For A 'Mini-Crash'? - 18th Jan 22
Mobile Sports Betting is on a rise: Here’s why - 18th Jan 22
Exponential AI Stocks Mega-trend - 17th Jan 22
THE NEXT BITCOIN - 17th Jan 22
Gold Price Predictions for 2022 - 17th Jan 22
How Do Debt Relief Services Work To Reduce The Amount You Owe? - 17th Jan 22
RIVIAN IPO Illustrates We are in the Mother of all Stock Market Bubbles - 16th Jan 22
All Market Eyes on Copper - 16th Jan 22
The US Dollar Had a Slip-Up, but Gold Turned a Blind Eye to It - 16th Jan 22
A Stock Market Top for the Ages - 16th Jan 22
FREETRADE - Stock Investing Platform, the Good, Bad and Ugly Review, Free Shares, Cancelled Orders - 15th Jan 22
WD 14tb My Book External Drive Unboxing, Testing and Benchmark Performance Amazon Buy Review - 15th Jan 22
Toyland Ferris Wheel Birthday Fun at Gulliver's Rother Valley UK Theme Park 2022 - 15th Jan 22
What You Should Know About a TailoredPay High Risk Merchant Account - 15th Jan 22
Best Metaverse Tech Stocks Investing for 2022 and Beyond - 14th Jan 22
Gold Price Lagging Inflation - 14th Jan 22
Get Your Startup Idea Up And Running With These 7 Tips - 14th Jan 22
What Happens When Your Flight Gets Cancelled in the UK? - 14th Jan 22
How to Profit from 2022’s Biggest Trend Reversal - 11th Jan 22
Stock Market Sentiment Speaks: Are We Ready To Drop To 4400SPX? - 11th Jan 22
What's the Role of an Affiliate Marketer? - 11th Jan 22
Essential Things To Know Before You Set Up A Limited Liability Company - 11th Jan 22
Fiscal and Monetary Cliffs Have Arrived - 10th Jan 22
The Meteoric Rise of Investing in Trading Cards - 10th Jan 22
IBM The REAL Quantum Metaverse STOCK! - 9th Jan 22
WARNING Failing NVME2 M2 SSD Drives Can Prevent Systems From Booting - Corsair MP600 - 9th Jan 22
The Fed’s inflated cake and a ‘quant’ of history - 9th Jan 22
NVME M2 SSD FAILURE WARNING Signs - Corsair MP600 1tb Drive - 9th Jan 22
Meadowhall Sheffield Christmas Lights 2021 Shopping - Before the Switch on - 9th Jan 22
How Does Insurance Work In Europe? Find Out Here - 9th Jan 22
Effect of Deflation On The Gold Price - 7th Jan 22
Stock Market 2022 Requires Different Strategies For Traders/Investors - 7th Jan 22
Old Man Winter Will Stimulate Natural Gas and Heating Oil Demand - 7th Jan 22
Is The Lazy Stock Market Bull Strategy Worth Considering? - 7th Jan 22
What Elliott Waves Show for Asia Pacific Stock and Financial Markets 2022 - 6th Jan 2022
Why You Should Register Your Company - 6th Jan 2022
4 Ways to Invest in Silver for 2022 - 6th Jan 2022
UNITY (U) - Metaverse Stock Analysis Investing for 2022 and Beyond - 5th Jan 2022
Stock Market Staving Off Risk-Off - 5th Jan 2022
Gold and Silver Still Hungover After New Year’s Eve - 5th Jan 2022
S&P 500 In an Uncharted Territory, But Is Sky the Limit? - 5th Jan 2022

Market Oracle FREE Newsletter

How to Protect your Wealth by Investing in AI Tech Stocks

World's Highest Salaries are Paid in Zurich, Switzerland

Politics / Social Issues Sep 20, 2010 - 09:16 AM GMT

By: Pravda


Switzerland's largest bank, UBS, has published an annual research called "Prices and Earnings," which compared world's largest cities on their costs of living, earnings, and internal purchasing capacities. Moscow was ranked 44th, 42nd and 39th among 73 other cities. The highest prices were registered in Oslo, the capital of Norway. Salaries are the highest in Zurich, where the purchasing capacity is also on a similar level.

The authors of the report considered prices for living, healthcare, food, drinks and tobacco, as well as transport, electric power, clothes, household appliances and other services. New York was taken as the basic city for prices: the cost of living in this city was rated as 100 percent. To make the rating of prices, the researchers analyzed price levels for citizens of Western Europe on a standard set of 122 services. Salaries were evaluated on 15 professions that are most typical for those cities.

UBS placed Moscow on the 44th position on the cost of living, whereas last year the Russian capital was ranked 57th. Norway's Oslo came first for the second year running. Zurich and Geneva follow taking second and third positions respectively. The fourth place was taken by Japan's capital Tokyo. Copenhagen closes the top five list. Ukraine's Kiev was ranked 58th on the list of most expensive cities between Riga and Bratislava.

The cheapest city is India's Mumbai - the prices there make a third of those in New York.

According to the research, the salaries are the highest in Zurich - 26 percent higher than what New Yorkers receive. The list continues with Copenhagen, Geneva, Oslo and New York. The lowest salaries are paid to residents of Mumbai - they make up only 6.5 percent of those in New York.

The salaries in the Russian capital make up only 30,5 percent of those in New York, which ranked Moscow 42nd. This years, the average level of salaries will make up nearly 36,300 rubles a month ($1,210). A growth of up to 48,800 rubles a month ($1,600) is to be reached by 2013.

There is nothing surprising about the fact that Zurich, the city with the highest level of wages, showed the highest purchasing capacity as well. The list goes on with Sydney, Miami, Los Angeles, Luxemburg, Dublin, Geneva and New York.

It is worthy of note that Moscow and Russia continue to attract qualified immigrants despite high living costs. Expat Explorer said last year that foreign specialists' income in Russia were the highest. Up to 30 percent of the polled expats working in the Russian Federation said that they received over $250,000 a year.

Russia Today: Russia has the richest expats in the world

The results of the research conducted by UBS are not that decisive. A lot depends on the currency, in which people make their living, not to mention the stability of the national currency rate. Moscow's rise from the 57th position in 2009 to the 44th in 2010 became possible because of the strengthening of the ruble against the dollar and the euro.

Ekaterina Yevstigneyeva

Disclaimer: The above is a matter of opinion provided for general information purposes only and is not intended as investment advice. Information and analysis above are derived from sources and utilising methods believed to be reliable, but we cannot accept responsibility for any losses you may incur as a result of this analysis. Individuals should consult with their personal financial advisors.

Pravda Archive

© 2005-2019 - The Market Oracle is a FREE Daily Financial Markets Analysis & Forecasting online publication.

Post Comment

Only logged in users are allowed to post comments. Register/ Log in