« Ballistic Insults:
The War of Words Over Missile Defense
| Main | Russian IPOs: Week 24 of 2007 Reviewed
Russia's "War for Talent" »


June 18, 2007
Moscow - Again the World's Most Expensive City

By Jeanne Sahadi
CNNMoney.com senior writer

cover-st-basils-cathedral-kremlin.jpg

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.

"The appreciation of the ruble against the U.S. dollar, combined with ever-increasing accommodation charges, has driven up costs for expatriates in Moscow," Mercer research manager Nathalie Constantin-Metral said in a statement.

A luxury two-bedroom in Moscow now rents for $4,000 a month; a CD costs $24.83, and an international newspaper, $6.30, according to Mercer. By comparison, a fast food meal with a burger is a steal at $4.80.

Read more on CNN website. Click on the extended post to watch a Russia Today TV video on this topic.


Moscow is the most expensive city in the world for expats, and getting more expensive for natives as well



TrackBack

TrackBack URL for this entry:
http://www.discovery.org/scripts/mt/mt-tb.cgi/2538

Comments

I am glad Oslo is further down on the list :-)

Post a comment

(If you haven't left a comment here before, you may need to be approved by the site owner before your comment will appear. Until then, it won't appear on the entry. Thanks for waiting.)

Dotted Divider Line

Russia Blog presents up-to-date news, facts and commentary on the state of events in Russia and the former Soviet Union. The blog is managed by Yuri Mamchur, Director of Discovery Institute's Real Russia Project and a composer in his spare time.


 






Send an email to us at:
yuri@discovery.org