Oslo, Copenhagen, Zurich, Geneva and Tokyo are more expensive than New York, according to a new study released Wednesday by UBS.
The study analyzes wages, purchasing power and working hours using a singular currency.
The study compared cities' purchasing power using an 8G iPod Nano:
An average wage-earner in Zurich and New York can buy a nano from an Apple store after nine hours of work. At the other end of the spectrum, workers in Mumbai, need to work 20 nine-hour days - roughly the equivalent of one month's salary - to purchase an iPod nano.
Workers in Paris and Lyons, France work the least, according to the Study. CNBC sums it up:
On average, people in the cities surveyed worked 1,902 hours per year, but in Lyon and Paris they worked 1,582 and 1,594 hours respectively. In Cairo, they worked 2,373 hours, while in Seoul they worked 2,312 hours.
Other findings:
-Employees in Zurich and Geneva have the highest net wages in the world
-People in Cairo and Seoul work the longest - roughly 600 hours more per year than their peers in Western Europe
The top-10 most expensive cities, according to UBS are:
1. Oslo
2. Zurich
3. Copenhagen
4. Geneva
5. Tokyo
6. New York
7. Helsinki
8. Vienna
9. Paris
10. Dublin