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Prices and Earnings 2018” was issued by the Swiss bank UBS on 29 May.

Rankings for 77 cities were calculated using a formula of net hourly wages and several baskets of goods, excluding rent. New York City was used as the index’s baseline city.

Net annual income in Luxembourg was 117.3% of New York, UBS said.

The 10 cities with the highest purchasing power in UBS study (index compared to New York City):

  • Los Angeles (123.9%)
  • Zurich (122.5%)
  • Miami (121.7%)
  • Geneva (118%)
  • Luxembourg (117.3%)
  • Chicago (105.7%)
  • Toronto (101.5%)
  • Manama (100.6%)
  • Hong Kong (100.3%)
  • New York (100%)

Luxembourg ranked 3rd in average earning levels, 4th in working time and 15th in overall price levels.