by Zoe Li
According to Swiss bank UBS, the world's costliest cities are Oslo, Zurich and Tokyo.
The prices of 122 goods and services were compared amongst 72 cities in 58 countries for the survey of the most expensive places in the world, released September 14. See the full report here.
Although Oslo is the most expensive place to live, its residents are not necessarily rich. The city only ranks fourth when it comes to average wages and purchasing power.
Zurich is the highest ranked in consumer purchasing power, followed by Sydney and Luxembourg, which means the net hourly wage in these cities can buy the most goods and services.
?A worker in Zurich can buy an iPhone after working for 22 hours,? UBS reported. ?In Manila it takes around 20 times more.?
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