Mumbai is ranked as the least expensive city in a list of 70 large global cities. The ranking was done by the Swiss financial services group UBS. The Norwegian capital Oslo had the dubious distinction of being at the top of the list.
The ranking was conducted using a basket of more than 100 common goods and services, but excluding rent and housing. The UBS researchers found that Oslo was 10% more costly than Hong Kong, Tokyo or New York.
While it will make Mumbai residents happy to know that living there costs less in comparison to other global cities, it will be sobering for them to know that workers in Mumbai earn only 3.1% of the wages paid in Zurich. Again Mumbai come lowest in terms of earning while the Swiss city of Zurich topped the list. This information was also part of the survey's result on workers earning.
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