São Paulo became the 10th most expensive city in the world

Skye Bar and Restaurant at the roof of the expensive Hotel Unique

Sao Paulo beats London, Paris and New York and becomes the tenth most expensive city in the world. Nowadays, according to Mercer Consulting, living in São Paulo is more expensive than in most European and American cities. The study is based on the cost that multinational companies need to spend to maintain a foreign official in the city.

In 2010, California was only the 21st most expensive city in the world. But the appreciation of the local currency (Real), the boom of rental prices and food have made this city one of the biggest jumps among the 214 cities evaluated.

Sao Paulo went up 11 positions and surpassed London, Paris and New York

Rio de Janeiro also rose in the rankings, moving from 29th most expensive city in the world in 2010 to 12th this year.

The world's most expensive city to live for a foreigner is Luanda, followed by Tokyo. Moscow is the fourth, followed by Geneva. Zurich, also in Switzerland, is the seventh most expensive in the world. New York is only the 32nd most expensive.

[source: estadao]