Helsinki Is World's 7th Most Expensive City

A comparison of purchasing power around the globe puts Helsinki in seventh place in terms of prices and earnings, finds a study by financial firm UBS.

Visitors to Oslo, Copenhagen and London are most likely to encounter the highest prices. These three European cities are the most expensive in the world according to UBS.

The study considered the prices of numerous products and services, but did not consider renting expenses for flats in its rankings.

In view of gross wages, the Scandinavian countries are in a strong standing, as Scandinavians earned the highest gross wages. However, those who call Zurich home have the highest purchasing power worldwide, that is, the most left of their pay check after taxes and deductions.

UBS publishes its "Prices and Earnings" survey every three years. There has been a considerable shake-up in the ranking order of the costliest cities since the previous survey in early 2006, much due to the drop in the relative value of the US dollar.