thunderstorm369 Posted August 25, 2009 Report Posted August 25, 2009 India's capital city New Delhi and financial hub Mumbai have been ranked among the least expensive cities around the world by a survey, even as cost for food and housing in the country continues to rise. According to a research by Swiss Banking major UBS, Delhi and Mumbai were at the bottom of the price range in the list of most expensive cities that surveyed 73 places worldwide. Interestingly, many cities spread across less developed economies were ranked ahead of the two major Indian cities in the list of most expensive places.On the other hand Oslo, Zurich and Copenhagen were ranked among the most expensive places with skyrocketing living costs in the world. "Currency devaluation pushed down prices in many emerging market cities. Prices slipped the most in Mexico City, Moscow and Seoul," the UBS report said. The price spread between the most expensive and the cheapest city was the widest in Asia.While Tokyo ranks as one of the world's five costliest cities, Kuala Lumpur, Manila, Delhi and Mumbai form the lowest rung.In terms of wages, workers in Tokyo earn the highest wages in Asia while employees in Copenhagen, Zurich, Geneva and New York have the highest gross wages. By contrast, the average employee in Delhi, Manila, Jakarta and Mumbai earns less than one-fifteenth of what their counterparts in Switzerland earn on an hourly basis after taxes.
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