Most Expensive City In The World – Oslo, Norway
TOO PRICEY TO TAKE A TRIP
After the study of surveys from TripAdvisor, Bloomerberg, Forbes, ECA International and many more, the consolidated result gives highest vote to Oslo, Norway. Till 2012, Tokyo has been long-standing costliest place but after natural calamities, deflation and currency depreciation reduced the cost of living in Japan and the strengthening of Krone (Norwegian currency) ascended it to the top in the list of most expensive cities in the world. The reason for this Norwegian city to be ranked #1 is strengthening of the krone as well as the revenues that country fetches from its rich oil reserves. Globally, the Norwegian capital has risen from sixth to first place. Oslo is followed by Geneva and Zurich in Switzerland. Despite the value of Swiss franc falling against major currencies in the aftermath of Swiss National Bank’s move to set a minimum exchange rate against the Euro, Swiss locations remain in the top ten most expensive locations globally. Talking about other cities in the list, New York has managed to maintain its position or have slightly descended due to the movement of US Dollars against the majority of currencies worldwide. A cup of coffee will cost $ 8.29 in Moscow as compared to $ 1.54 in Nicaragua. On the other hand, you might have to loosen your pocket up to $ 20.10 for a movie ticket in London versus $ 5.91 in Johannesburg. However New Yorkers still pay more than Oslo residents when it comes to real estate which is almost going to double the monthly rent.
The survey has also taken into account the rates of exchange, inflation, goods that expats typically buying and rental expenses to work out the approximate cost of living. The methods of carrying out survey has been different by different associations and there is no definite worth of the city instead prices of commodities have been compared with other cities’ commodities and the results have been given as follows-
- One of them took a basket of 111 goods and services including food, transportation and rent to fathom the cost of living. A bus ride through Oslo now costs $ 3.70 as compared to $ 2.20 while similar trip in Zurich would cost $ 2.64.
- The result based on the comparisons of the prices of 25 different products including coffee, petrol, books and mobile phones, with 32 countries’ products worldwide have shown that products like milk, Coca-Cola and Big Macs are more expensive in Oslo than in lot other major cities. For example, a 33cl can of Coca-Cola, would cost $ 6.40 in Oslo as compared to $ 4.80 in US.
- Oslo is a budget-wrecking forty percent more expensive than the average in multi-city survey.
LET’S TAKE A CLOSER LOOK
ü BEER IN A BAR OF OSLO: $ 14.10: Of course there are pubs, bars and nightclubs with wide range of prices but Oslo is a bit different. Norwegians like beer and there are number of breweries you could find, around the country, right from Frydenlund, Arendalspilsener to Ringnes that are top preferences of Norwegians. The reason why Norway goes out of the way and became expensive is because of the mutual waxing of the price of a glass of beer with a corresponding waning of te size of the glass in which it is served.
ü SODA IN OSLO: $ 3.43: Sodas like Coca-Cola or Solo, the Norwegian orange-y option, typically come in half-a-liter plastic bottles or 0.33 liters. A bottle of normal water can draw an amount of $ 9 from your pocket for which a minimum wage worker from Bangladesh would have to work for 82 hours or someone from Cuba for 180 hours to buy the same tiny bottle of water. The price is definitely gouging as Norway is a country with best and cleanest tap water in the world.
ü DOZEN OF EGGS: $ 8.39: The supermarkets in Oslo provides you with wide range of selection of eggs where the cheapest dozen will set you back at $ 5.30 and moving on further may require you to pay $ 6.91, $ 8.64 or a whopping $ 12.43 for the most expensive ones.
ü CINEMA TICKET: $18.76: Watching a movie will surely make you think twice as the silver screens require a bit more to be flashed on to the screen with most correct price being $ 17.31.
ü LOAF OF BREAD: $ 6.31
ü PACK OF BRAND-NAME CIGARETTES: $ 15.24
ü LITER OF MILK: $2.58
ü HIGH-END-THREE-COURSE DINNER FOR FOUR, WITH WINE: $ 813.36
Not just for commodities or products, Norway is also exorbitant for holidaymakers. A night out in the city, including one night at a four-star hotel, a short taxi ride and cocktail with dinner for two would demand easily a prohibitive amount of $ 630.52. The individual amounts being, $ 249.34 for hotel, $ 31.45 for taxi ride, $ 300.43 for dining in a hotel and $ 49.30 for cocktail.
RANKING OF THE CITY AS PER THE PERCENTAGE ABOVE OR BELOW AVERAGE
- OSLO – 35.3%
- SAO PAULO – 27.1%
- SYDNEY – 20.5%
- STOCKHOLM – 15.5%
- REYKJAVIK – 14.9%
- HELSINKI – 11.5%
- COPENHAGEN – 10.6%
- TOKYO -9.8%
- PARIS -8.3%
- ROME – 4.4%
Even though Oslo has been labeled as, “World’s most expensive city for expatriates” results should make us comprehend what is actually being measured, and when, where and by whom. Norwegian politicians often dismiss international ranking that shows Oslo to be most expensive than any other capital city with a retort that salaries are also higher than any other city but the fact is Norwegians spend less of their total income at the grocery store than many others do elsewhere in the world.
