UBS survey of most expensive cities in world reveal that six of them are in Europe. - According to the latest survey by the Swiss bank UBS on prices and salaries in the biggest cities in the world, the most expensive cities are mainly in the north of Europe. Six out of ten of the cities in the Top 10 of the most expensive cities in the world are European. This survey has been published by UBS since 1970 and was carried out in 73 of the biggest cities in the world. It is based on a basket of 122 different goods. Excluding rent, New York (the city which constitutes the research standard) (100) is in sixth place, preceded by Copenhagen (103.6) in fifth place. Oslo (120.4), Zurich (114.1) and Geneva (112.4) are the most expensive cities in the world. Tokyo (105.7) is in fourth place and Stockholm (97.1) in seventh. Two Canadian cities with the biggest populations are also in the Top 10: Toronto (95.2) is eighth and Montreal (92) ninth. London (91.3) is in tenth place. Two cities in the Pacific region, Sydney and Auckland have leapt up by almost 20 places due to a respective rise of 32% and 40% in the New Zealand and Australian currencies, compared to the US dollar. The least expensive cities in the world are the capital cities or big cities in emerging or poor countries or those in the former Soviet bloc. Manila (36.2), Delhi (34.7) and Mumbai (28.5) are in last place. Caracas, the capital city of Venezuela, plunged more than 30 places in this league table due to the collapse of around 50% of the value of the Bolivar currency. Despite EU enlargement to the east in 2004 and the introduction of the euro in Slovenia and Slovakia, price adjustment between eastern and western Europe remains minimal. The basket of goods and services is, in effect, around 35% less expensive in Eastern European member state cities than in their western equivalent. The Top 10 cities in terms of gross salary levels include seven areas in northern Europe, three of them in Scandinavia. Workers receive the highest gross wages in Copenhagen (108.4), Zurich (100, the research standard for this category), Geneva (96.3) and New York (86.4). The worst paid inhabitants in the world live in Manila (5.4), Jakarta (5.0) and Mumbai (4.3). At a European level, there is a large contrast between those living in Western European cities, who receive salaries that are almost 3 times above those of their Eastern European colleagues. Salaries are particularly low in Sofia, Bulgaria (11.6) and in Bucharest, Romania (13.3). These are at a similar level to that in Colombia and Thailand. (I.L./transl.fl)