Sunday, June 12, 2011

Which City in the World Has $24 Movie Tickets?

Australia, former penal colony, home to the Great Barrier Reef, and producer of world-class sauvignon blanc, has never exactly been synonymous with a high cost of living. Yet because of a strong economy and proximity to the booming Asia Pacific region, many overseas visitors might find it more expensive to slip an extra shrimp -- or just about anything else for that matter -- on the barbie here than in most other countries around the world. In fact, in a recent survey, six Australian cities placed among the top 30 most expensive in the world, according to global human resources firm ECA International. Just two years ago not a single Australian city ranked in the top 100.

Australia is not alone in becoming more expensive. Singapore, for example, rose to No. 36 in ECA's ranking, from No. 68 last year, on the strength of the Singapore dollar. Caracas, Venezuela, rose from No. 91 to No. 15, a result of rampant inflation.

The city that earns the dubious honor of being the most expensive for holders of U.S. dollars is Tokyo, a rank it also enjoyed last year. How expensive is it? How about $24 for a movie ticket and nearly $11 for a beer (check out the slide show to see how much movie tickets, beer, and other everyday items cost in the world's 30 most expensive cities). Japan dominated the ranking with four of the 10 most expensive -- in addition to Tokyo, Nagoya (No. 3), Yokohama (No. 5), and Kobe (No. 9) also made the list.

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