New York is no longer in this top ten list. It’s the world’s most expensive cities, and New York City has dropped several spaces thanks to the fluctuation of currencies. Here are the top 20.

# Moscow
# London
# Seoul
# Tokyo
# Hong Kong
# Copenhagen
# Geneva
# Osaka
# Zurich
# Oslo
# Milan
# St. Petersburg (Russia)
# Paris
# Singapore
# New York City
# Dublin
# Tel Aviv
# Rome
# Vienna
# Beijing

Los Angeles is the next American city on the list, making the top 50.

The list was created not by taking into account just the expense of living, but the expense relative to the income. It’s possible that in addition to currency valuations, the increase in New York salary played a role in making that city more affordable, pushing New York lower in the list.

Of course, if you’re not part of the small but significant few who received hedge-fund-like compensation, you’re not going to feel that the city is relatively less expensive.

Published or updated July 10, 2007. If you enjoyed this article, subscribe to the RSS feed or receive daily emails. Follow @flexo on Twitter and visit our Facebook page for more updates.

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About the author

Luke Landes, also known as Flexo, is the founder of Consumerism Commentary. He has been blogging and writing for the internet since 1995 and has been building online communities since 1991. Find out more about him and follow Luke Landes on Twitter. View all articles by Luke Landes.