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Singapore ranked as 2nd most expensive city in Asia

2009-08-21 08:26 BJT

SINGAPORE, Aug. 20 (Xinhua) -- Singapore has been ranked as the second most expensive city in Asia, local media reported on Thursday.

Local TV broadcaster Channel News Asia quoted the UBS' Prices and Earnings 2009 study as reporting that Tokyo is ranked as the most expensive city in Asia, Singapore comes the second, while China's Hong Kong takes the third position.

Singapore is ranked 24th globally, in a comparison of living costs in 73 cities around the world.

Based on a standardized basket of 122 goods and services, the study found that Oslo, Zurich, Copenhagen, Geneva, Tokyo and New York to be the world's priciest cities, while Mumbai, Delhi, Manila and Kuala Lumpur are cities with the lowest price levels.

In Asia, employees in Tokyo earn the highest wages, and are ranked 18th globally. Their salaries are about two times higher than those in Singapore, which came in at 40th globally. Manila, Jakarta and Mumbai are at the bottom of the table.

Editor: Xiong Qu | Source: Xinhua