Planning a trip to Oslo? Better save up!

The city of Oslo has been ranked as the third most expensive city in the world by the Swiss investment bank UBS Group’s Prices and Earnings report for 2018. Only the two Swiss cities of Geneva and Zürich are more expensive.

The Norwegian city is in general one of the most expensive cities in the world to live in, the survey finds. The report made by the Swiss investment bank is ranking global city prices, wage levels, purchasing power and working time to buy everyday goods and services.

The report is using the living expenses of New York City as a reference, where New York has been given the index value 100. This means that if a city gets a value above 100, it is more expensive than the American city. Oslo got a ranking of 107.8 which means that Oslo is 7.8% more expensive than New York. The index is made by looking at the cost of 128 goods and services that an average family of three will use on a monthly basis.

Citizens of Oslo have to work for 22.3 minutes to buy a Big Mac or 73.5 hours to buy an iPhone. By comparison, the average worker in Mumbai has to work 88.1 minutes and 917.8 hours accordingly. The survey shows that Oslo is amongst the most expensive cities in the world when it comes to public transport, city breaks and home electronics.

Even though Oslo is ranked as one of the most expensive cities to live in when it comes to the expenses of everyday items, the city has many options for people not wanting to empty their wallets. Some of them being the Oslo opera house, most museums and parks and even big concerts. Alongside this, you can take the tram out of the city centre and experience amazing treks in stunning nature completely free of charge.

The results of the report underline the quality of life enjoyed by the 5.3 million Norwegians. High wages, reliable infrastructure and public transport, a stable government, as well as easy access to nature, makes Oslo and Norway one of the best places to live.