Are Zurich? If not, live somewhere else

New York may be the unofficial capital of the world, but it doesn’t have the highest living costs to match. In the Economist Intelligence Unit’s annual Worldwide Cost of Living Survey New York is only the 47th most expensive place to live out of 131 cities.

This year’s priciest place is Zurich, largely thanks to the rising strength of the Swiss Franc. The Swiss financial centre displaces Tokyo as the world’s most expensive city.

There have been some other big changes over the past decade. Sydney has ridden the highs of Australia’s mineral boom and proximity to Asian markets to become the world’s seventh most expensive city. In 2001 it was only in 71st place.

It might surprise hard pressed Londoners to discover that their city is only the 17th most expensive this year, with Paris, Frankfurt and Oslo all pricier places to live.