Tokyo is the most costly city in Asia

Image of Rainbow Bridge and Tokyo Tower

You shoudn’t surprise about this. In the previous report (2006 edition), UBS’s (Union Bank of Switzerland)Report cites Tokyo as the fifth most expensive city in worldwide yet Asia most expensive. While in the newest report, Tokyo still to be the most costly city in Asia yet it ranked on number 12th in worldwide.

Still in Asia, Seoul is following in the second place; Singapore put them self on the third; Hong Kong set in the fourth place.

How does UBS’s economist ranked them? It’s so simple yet uneasy.

For the hard one, read this excerpt from Yahoo! Finance:

It compares the prices of a basked of goods and services, wages, wage deductions and working hours, along with the resulting purchasing power, in 71 cities around the world. More than 35,000 data entries are collected and analyzed to prepare the publication. Exchange rates and differences in inflation have a crucial impact on the comparisons, and this update uses the statistics from the 2006 analysis, adjusted for relative inflation and recalculated to reflect exchange rates at the end of 2007. In addition, differing rates of productivity growth are factored into the recalculated figures for wages.

For the easy one, read this:

Still can’t find it! Help me if you can …

Source: People’s Daily Online and Yahoo! News via UBS

Image courtesy by Japan Guide