We will start 2010 with an interactive graphic from mint.com on the world's most expensive cities...
Budgeting – Mint.com
This from mint.com (bold emphasis mine)
``Which are the world’s most expensive cities? The cities included on this interactive map are from a 2009 study by the UBS, which tracked the ups and downs of various places in the wake of the financial crisis. Many cities have changed ranks, with some cities become more, and others becoming less expensive. Currency devaluations played a a major role in the change of rankings, specifically in regards to emerging market cities. High inflation rates also were a factor, especially in areas such as Caracas, Venezuela (30% per year, for the last three years) When a cursor is placed over each highlighted city, an information window will pop up, showing whether it has become more or less expensive to live in this city than it was last year, as well as last year’s rankings for that city."
My assumption is that the UBS calculations had been based on local currency terms, since inflation would imply the cheapening of the currency relative to foreign exchange, particularly the US dollar. As the above example, Caracas, Venezuela takes a leap to the 12th most expensive from the 40th spot last 2008.
Budgeting – Mint.com
This from mint.com (bold emphasis mine)
``Which are the world’s most expensive cities? The cities included on this interactive map are from a 2009 study by the UBS, which tracked the ups and downs of various places in the wake of the financial crisis. Many cities have changed ranks, with some cities become more, and others becoming less expensive. Currency devaluations played a a major role in the change of rankings, specifically in regards to emerging market cities. High inflation rates also were a factor, especially in areas such as Caracas, Venezuela (30% per year, for the last three years) When a cursor is placed over each highlighted city, an information window will pop up, showing whether it has become more or less expensive to live in this city than it was last year, as well as last year’s rankings for that city."
My assumption is that the UBS calculations had been based on local currency terms, since inflation would imply the cheapening of the currency relative to foreign exchange, particularly the US dollar. As the above example, Caracas, Venezuela takes a leap to the 12th most expensive from the 40th spot last 2008.
1 comment:
Incredible how things change. When I lived in Sao Paulo, the city was located in the South of Brazil, and Rio de Janeiro was 400 miles north of Sao Paulo. Today I see Sao Paulo located in the NORTH EAST of Brazil? With Rio nearby? What was the tectonic mega-catastrophic event responsible for throwing Sao Paulo up north, over 1500 miles away from its original position? The map designer ignorance and stupidity? I can believe you guys publish information like this one without even bothering to check the facts.
Post a Comment