World's most expensive cities

Moscow wins again, with London as runner up. New York drops five places to No. 15, while San Francisco plunges 20 places to No. 54, according to Mercer's 2007 survey.
By Jeanne Sahadi, CNNMoney.com senior writer
June 19 2007: 3:19 PM EDT

NEW YORK (CNNMoney.com) -- If your boss wants to transfer you to Moscow this year, he'd better offer you a fair sum to do so - or even a downright handsome one depending on where you live now. That's because Moscow has just been designated the world's most expensive city for the second year in a row by Mercer Human Resource Consulting.

Using the cost of living in New York as a base, Mercer determined Moscow is 34.4 percent more expensive after taking into account the cost of housing, transportation, food, clothing, household goods and entertainment.

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After just being there and talking to some of the people who who struggle to live there, I was surprised at how expensive items were in Moscow. We stopped at a mall to have lunch and I did a little window shopping. Rock and Republic jeans were $400 (US) on sale for $200. They had one pair left. Who is buying $400 jeans in Russia, I wondered. The fact is, the young people are very fashionable. There were tons of cool guys shoes available. What a difference these high priced luxury items were from the stark reality of life at the orphanages. I'm beginning to realize that the world is the same where ever you go. There are those with money and power in this life and those without. God freely blesses both. My prayer is that those with material blessings bless the less fortunate. If you're moved to do so, please consider Children's HopeChest. Thank you:)

Comments

[J Sandfier]

Hey Joe,
Thanks for bringing Russia to our attention, seems you had a great trip and were really touched by what you found there.

I wonder if the corruption rampant in the country is what drives the prices of everyday stuff through the roof. There must be a black market where the normal everyday Russian can buy things for reasonable rates.

Thanks again..

[Joe C.]

A photographer and an economist. this guy is a genius!