Dubai PR Network, Online Press Release from Dubai and Middle East
 
Economy & Statistics(Banking & Investments)
Filter PR by
  
UBS's Prices & Earnings report compares the cost of living in 77 cities worldwide
 
finds Zurich is world's most expensive city, while salaries go furthest in Los Angeles
  • Zurich retains its position as the most expensive city, followed by Geneva and Oslo.
  • Los Angeles boasts the world’s best buying power for the average worker’s salary, with LA residents now able to afford almost a quarter more (23.9%) than New Yorkers.
  • Now in its 17th edition, this year's report is presented in an interactive, digital format that allows users to compare cities and explore their development over time. Readers can explore city specific stories and dive into the data to come to their own conclusions.
  • Visit the microsite to find out what millennial must-haves cost around the world, or how long you have to work to afford an iPhone X in different cities.
Dubai, UAE, May 31, 2018:  UBS Global Wealth Management’s Chief Investment Office (CIO) today publishes new research on how prices and earnings of 77 international cities fare against each other. The study, first launched in 1971 and now in its 17th edition, compares 128 prices of various goods and services as well as average earnings of 15 professions representing the average working population. Consisting of more than 75,000 data points, the results are for the first time presented interactively on a microsite which allows visitors to compare cities and explore their development over time.
 
Mark Haefele, Chief Investment Officer at UBS Global Wealth Management, says: 'Purchasing power matters to all of us as individuals and as investors. Whether you are planning your next vacation or trying to understand long term shifts in economic power, our study provides a detailed analysis of prices around the world.'
 
According to the study’s Purchasing Power Index, residents of European and North American cities typically enjoy the best buying power overall, with Bahrain’s capital Manama and Hong Kong the only non-transatlantic contenders in the Top Ten. Global financial capitals New York and London rank 10th and 23rd respectively.
 
Daniel Kalt, Chief Economist and Chief Investment Officer for Switzerland, UBS Global Wealth Management, and lead editor of the study, adds: 'As in our previous edition, Zurich tops the list as the world’s most expensive city, closely followed by Swiss rival Geneva. However, our Purchasing Power Index clearly indicates that we are beginning to see stronger competition from overseas with only three European cities left in our Top Ten, all of which lost ground compared to the report’s 2015 edition.'
 
By isolating just one of the 128 prices analyzed, global purchasing power differences become clearly visible. For example, a standard haircut for women costs USD 94.32 in Zurich (Switzerland), compared to USD 22.60 in Kiev (Ukraine), USD 12.17 in Mexico City and USD 7.50 in Cairo (Egypt). However, while a woman in Zurich typically only has to work 3.05 hours to afford this service, the same expenditure requires 12.09 hours of work in Kiev, 5.86 hours in Mexico City and 6.11 hours in Cairo.


Posted by : Dubai PR Network Editorial Team
Viewed 5447 times
PR Category : Banking & Investments
Posted on : Thursday, May 31, 2018  11:14:00 AM UAE local time (GMT+4)
Replication or redistribution in whole or in part is expressly prohibited without the prior written consent of DubaiPRNetwork.com.
Previous Story : Shurooq of Sharjah – Nine Years of Driving a Diversified Eco...
Next Story : Abu Dhabi Records 7.3% Growth in Hotel Guests Staying in Emi...
Email this article Print this article

Share this article with your friends and followers
NewsVine
Back to Section Home

Related Stories



 
 
Most Viewed Press Release posted in the last 7 days
Rolls-Royce Motor Cars Achieves Historic Business Record [7387-Views]
Celebrate the Month of Love with a Brighter Smile at The Smile Bar [7168-Views]
Introducing Burberry Bespoke Fragrances [6740-Views]
Longchamp Spring/summer 2019 Show [6143-Views]
Global Village presents Scheherazade, a timeless tale of intrigue and adventure [5929-Views]
Hankook 24 Hours of Dubai kicks off the 2019 season for Audi [5923-Views]
Malabar Gold & Diamonds opens a new showroom in Millennium Dubai Airport Hotel to cater to... [5844-Views]
Always take the front row with this 7.2” supersized smartphone screen [5478-Views]
Turkish Airlines reached the 80.2% Load Factor in December 2018. [5191-Views]
Making many tones from one [5142-Views]
Celebrate Valentine's Day With a Quintessential Timepiece From D1 Milano [5014-Views]
Eberhard & Co. Gilda makes an extraordinary Valentine's Day gift [4953-Views]
Tag Heuer Demonstrates Watchmaking Mastery With Its New Carrera Calibre Heuer 02t Tourbill... [4697-Views]
Epson to participate at SGI 2019 for the 10th year highlighting high value solutions for p... [4557-Views]
Third Edition of Al Shira'aa International Horse Show Concludes with Thrilling Finale [4544-Views]
The Preston watch collection by Coach [4337-Views]
Bring out the Chef in your little ones at 800 Degrees Pizzeria [4300-Views]
A Chaumet Valentine's Day Sentimental jewellery [4215-Views]
Beef Sushi- Love at first bite [4178-Views]
Dubai Festival City Mall's Festival Bay transformed with a new, larger-than-life Pirate E... [4087-Views]
Bollywood Actor Anil Kapoor to inaugurate 2 new outlets of Malabar Gold & Diamonds in UAE ... [4069-Views]
Shane Breen Wins Grand Prix Qualifier at Al Shira'aa International Horse Show for the Seco... [4044-Views]
Persil Appoints Nancy Ajram as the new Regional Brand Ambassador [4002-Views]
Smart City Services at Silicon Park Reach Advanced Level of Completion [3916-Views]
UAE Team Emirates Kick Start 2019 With a New Squad, New Kit and New Ambitions [3886-Views]
 
RSS Facebook Twitter LinkedDin
 
Top Sections
 
Top Stories