Big "news": Tokyo is the world's most expensive

[Taro Toporific]

These studies are not fair. They always leave out the fact that besides being the " world's most expensive" housing" Tokyo also has the developed world's most charming appointments in their housing. Refer to BB's old FG thread: Indoor Air Pollution in NIHON

Tokyo tops the list of world's most expensive cities
CBC News, Canada - 13 June
LONDON (CP)- The weak American dollar and strong European and Asian currencies helped make Tokyo and London the most expensive cities in the world. ...

[Mulboyne]

This survey takes New York as its base city so all non-US dollar cities rise and fall as a result of dollar exchange movements as much local price movements.
So Tokyo is "more expensive" in 2004 than 2003 in spite of absolute yen price falls in some of the categories measured.
Its a fair methodology, though, because you have to take some base of comparison and the survey is aimed at US executives posting expats.

Other surveys look at costs compared with local wages and Tokyo has been steadily slipping down those rankings as measured prices fell faster than wages. Still expensive, mind you, as you would expect. London and New York tend to top those surveys.

The London numbers are always interesting. It indicates that cost is not such a barrier to tourism since London tourist numbers are back up after plunging in 2002.