World’s Top 10 Most Expensive Cities to Live

10. Bern, Switzerland

The country’s capital is home to several major Swiss companies including Rolex, Toblerone, Swisscom and The Swatch Group, as well as the foreign offices of American companies, such as eBay, Cisco and Ingram Micro. Bern is popular for its lower taxes, as well as liberal labor laws. To top it off, the city has managed to retain its cultural heritage. Old Bern has been recognized as a UNESCO Cultural World Heritage Site for being one of Europe’s best examples of a medieval town. The city, which is filled with diverse historical attractions, was home to Albert Einstein from 1903 and 1905, during which he developed his groundbreaking theory of relativity. Human resources consultant ECA International has drawn up its latest list of the world’s most expensive cities for U.S. expatriates. The survey examined 400 cities and regions across the world, and measured a basket of common items purchased by foreign workers in U.S. dollars terms, including food, clothing and electrical goods.

09. Kobe, Japan

Kobe is one of Japan’s busiest container ports. It is also the point of origin and namesake of the world-renowned Kobe beef. While Japan is the only Asian country surveyed where the cost of goods in the ECA basket has fallen, it is the most expensive country for foreign workers in U.S. dollar terms. That’s a largely a result of the appreciation of the yen over the past six months, as well as the already high cost of goods and services.

08. Geneva, Switzerland

Situated along Lake Geneva in the French-speaking part of Switzerland, Geneva is regarded as the global center for diplomacy. It’s home to many United Nations agencies, as well as the World Trade Organization, Red Cross and World Economic Forum headquarters.

One quarter of this picturesque city is made up of public parks, making it a popular destination for U.S. expatriates looking to relocate. Geneva is also well known for its haute cuisine, boasting more restaurants per capita than New York City.

07. Luanda, Angola

The capital of Angola has seen an influx of multinational companies looking to tap the country’s rich energy reserves. The country is also rich in other goods, exporting coffee, diamonds, sugar, iron and salt.

But a three-decade-long civil war has devastated Luanda’s infrastructure, driving up the cost of goods and services. From haircuts to gym memberships to fast-food meals, nothing comes cheap in the city. A one-year gym membership reportedly costs $2,500 and a haircut can cost upwards of $150.

06. Zurich, Switzerland

Despite its low tax rates, Switzerland’s largest city ranks as the fifth most expensive for expatriates. A large reason for this is the rapid appreciation of the Swiss franc, which has strengthened 27 percent against the U.S. dollar in the last year.

The country’s business center is the base for many leading financial institutions, including Credit Suisse, Julius Baer and UBS. In addition to its position as a European financial hub, Zurich is famous for its watch companies and chocolate makers, such as Lindt & Sprüngli.

05. Yokohama, Japan

As Japan’s second-largest city, Yokohama is a major commercial center for the Greater Tokyo Area.

The port city has a strong economic base, particularly in the biotechnology, semiconductor and shipping industries. Carmaker Nissan and Fujitsu semiconductor have moved their headquarters to the city.

Yokohama also is a budding artistic hub. The city is gearing up to host its triennale art event from August to December this year, with artists from around the world exhibiting their works at venues around the city.

04. Stavanger, Norway

The discovery of oil in the North Sea during the 1960s, converted this quaint metropolis into Norway’s petroleum capital. Over 50 energy companies have offices in Stavanger, making the city home to hundreds of expatriates working in the oil and gas sector.

During the recent economic downturn, Norway’s oil wealth meant the government could sustain economic growth with a lavish stimulus program. The country also has one of the world’s most generous welfare systems, including public schools that offer free, high-quality education.

It is the high cost of food and transportation that make Stavanger No. 4 on the list, however. Food prices in Norway are around 50 percent higher than the euro zone average, with meat, sugar and cereal products being the most expensive products.

03. Nagoya, Japan

Known as Japan’s most dynamic region, Nagoya is located 165 miles west of Tokyo. It is the hub for most of Japan’s manufacturers, and produces a large portion of the country’s automobile and aircraft parts.

A number of Japanese automotive companies are headquartered in Nagoya, including Toyota and Honda. Fortunately, these manufacturing plants were largely unaffected by the impact of the March earthquake and tsunami, which struck the region north of Tokyo.

02. Oslo, Norway

Oslo has been the second most expensive city for expatriates for six years in a row — that’s thanks to the relative strength of the Kroner, which has appreciated 16 percent against the U.S. dollar over the last year, and the resilience of the Norwegian economy during the financial crisis.

This hub of Norwegian trade is the home to the world’s largest shipping companies, shipbrokers and maritime insurance companies.

The city also boasts of one of the world’s most extensive and efficient metro transportation systems, and an environmentally friendly tram system. Efficiency comes at a price, however — a one-way ticket on public transportation costs around $5.60.

01. Tokyo, Japan

Tokyo is the most expensive city in the world, with a movie ticket costing $24 and the average taxi fare at $8.

As a global financial center, the city is home to headquarters for many of the world’s largest investment banks and insurance companies. Tokyo is also one of greenest cities in the world. Despite having a population of more than eight million, it has the lowest carbon dioxide emissions in Asia-Pacific. The city has been praised for its comprehensive transportation policy, under which the city’s entire taxi fleet is being converted to electric vehicles.

Top 10 Highest Paid NBA Players

10.  Zach Randolph – Memphis Grizzlies 

$17.3 million 
Randolph has had a checkered NBA career and never lived up to the $84 million, six-year deal he signed in 2004. He had his most success last season when he made his first All-Star team and led the Grizzlies to a 16-game improvement in the win column. The NBA’s highest-paid player is guard Kobe Bryant, who last season led the Los Angeles Lakers to its fifth title since he entered the league in 1996. This season he is the NBA’s highest-paid player for the first time in his career with a salary of $24.8 million. Here are the count downs of top ten NBA’s highest paid players.

09. Yao Ming – Houston Rockets

$17.7 million

Yao is one of the best centers in the game when healthy, but he was sidelined all of last season with a broken foot. Yao is in the final year of his contract with the Rockets and will have to prove he is healthy to command another big ticket contract.

08. Gilbert Arenas – Washington Wizards

$17.7 million

Injuries and a suspension for bringing guns into the locker room forced Agent Zero to miss 80% of his team’s games since signing a $111 million deal in 2008. His contract with three-plus years left on it might be the most impossible to trade in the league.

07. Andrei Kirilenko – Utah Jazz

$17.8 million

Kirilenko is nicknamed AK-47 for his initials and number with the Jazz (he was also born in Russia, home to the famous assault rifle). He fills up a stat sheet with rebounds, assists, steals and blocks, but his production hasn’t matched the $86 million deal he signed in 2004.

06. Pau Gasol – Los Angeles Lakers

$17.8 million

Gasol and Bryant are both under contract with the Lakers through the 2013-14 season. Gasol signed an extension during last season that added three years and $60 million to his existing deal.

05. Michael Redd – Milwaukee Bucks

$18.3 million

The Bucks’ sharpshooter has seen his last two seasons cut short by serious knee injuries. Redd’s salary is likely to take a major haircut when his six-year, $90 million deal expires after this season.

04. Tim Duncan – San Antonio Spurs

$18.7 million

Duncan can make a strong case as the greatest power forward to ever play the game with four titles, two MVP awards and nine selections to the All-NBA first team. His current contract with the Spurs expires after next season.

03. Kevin Garnett – Boston Celtics

$18.8 million

Garnett’s massive $126 million contract signed during his third season in the league was a major reason behind the NBA lockout that shortened the 1998-99 season. The Big Ticket was the league’s highest-paid player for three straight years until Tracy McGrady took the title last season.

02. Rashard Lewis – Orlando Magic

$20.5 million

Lewis signed a $118 million, six-year deal as a free agent in 2007 after nine seasons with the Seattle SuperSonics. Lewis has seen his scoring average decline three straight years.

01. Kobe Bryant – Los Angeles Lakers

$24.8 million

Bryant is the NBA’s top-paid player for the first time this season. The $83.5 million, three-year extension he signed with the Los Angeles Lakers in April assures he will stay on top through the 2013-14 season.