Lisbon is among most expensive cities in the world

LISBON IS the 38th most expensive city in which to live and work, out of 71 cities worldwide, according to private bank UBS Warburg.

The results follow a study carried out every three years, in which 122 services and products were analysed. According to the study, which also considered the citizens’ average salaries, Oslo, London and Copenhagen were the most expensive cities in which to live worldwide.

Lisbon residents earn only 33.2 per cent of that which New Yorkers take home, while purchasing power is only 53.4 per cent of that in New York. Zurich, Los Angeles, Geneva and Dublin citizens had the greatest spending power, while cities considered cheap were Kuala Lumpur, Bombay and Buenos Aires. At the bottom of the league tables were Jakarta, Manila and New Delhi.

According to the study, a Lisbon resident has to work 32 minutes to buy a Big Mac, while in Manila they have to work 81 minutes.