Tokyo, June 12 (ANI): Tokyo is the world's most expensive city for foreign staff to live in, according to a new research.
According to the research carried out by the consultancy Mercer, Paris, Rome and Amsterdam had all slid down the rankings as a weaker euro reduced costs for overseas firms.
The yen's rise against the dollar pushed up the cost of living for staff and firms paid in other currencies, The BBC reports.
Tokyo has overtaken the previously most expensive city Angolan capital Luanda, and London was ranked at 25, down by seven places.
Accommodation was the biggest cost for overseas staff, accounting for 25 percent of spending, according to the Mercer research, which looked at the cost of living in 214 cities.
Falling incomes and rising unemployment due to recession in most eurozone countries have depressed prices.
In comparison, the relative boom in many Asia-Pacific economies has pushed up bills for expats based in the region.
Mercer based its findings on prices gathered between March 2011 and March 2012. (ANI)