In the city where indulgent habits are the norms, designer bags and apparel are the staples, and luxury cars are the only way to travel, only true Miamians understand where the living is easy. But there is reason for this lavish lifestyle. A new study from UBS Bank says that living in Miami gives you the best bang for your buck.
According to the Swiss-based global investment firm, Miami ranks third in the world, and first in the United States, as the city in which employees get good value for their money. Zurich, Switzerland, is first on the list, followed by Sydney. Other U.S. cities in the top 10 list for purchasing power include Los Angeles, New York, and Chicago. But where your hard-earned salary won’t go far are in Bucharest, Romania; Manila, Philippines; and Mumbai.
The survey, which UBS Bank conducts every three years, looked at 73 cities worldwide using a standardized survey of prices, wages, and goods and services. It also determined that Oslo, Norway; Zurich, and Geneva, Switzerland remain the world’s most expensive cities. Go here for more results from the UBS Bank study.