The Swiss Bank USB's latest comparison of price levels and purchasing power in 71 world capitals and major cities places Oslo at the top of expensive cities. But the real news is that the purchasing power of Oslo residents is as low as 15th.
The survey finds four European cities plus Tokyo as the world's priciest. Salaries are highest in Scandinavia, Switzerland and the USA. Oslo, London, Copenhagen, Zurich and Tokyo take the top five spots as the world's most expensive cities.
Asian workers spend more time on the job than the rest of the world, striving on average nearly 50 days more a year than their counterparts in Western Europe.
Oslo had the most expensive 'shopping basket' of 122 set products and services, while especially high housing and living expenses in London and New York are noted.
Swiss cities Zurich and Geneva kept their status as spots of highest purchasing power. In contrast to most other countries, where teachers and bus drivers earn below the average, such public sector jobs are relatively well paid in Switzerland and Scandinavia.
Norwegian experts were surprised and apparently puzzled by the results.
"It is strange that Oslo ends as low (in purchasing power) as 15th place - I would have expected to be significantly higher on the list," Professor of Social Economics Steinar Holden at the University of Oslo told newspaper VG.
He was especially surprised that German cities such as Frankfurt, Munich and Berlin were above Oslo on this list. IN contrast to, for example, Ireland, the living standard in Germany is supposed to have declined over the past 15-20 years.
"It is very surprising that the residents of these German cities have more purchasing power than those in Oslo," Holden said.
