Rio, Sao Paulo Climb List of Most Expensive Cities

Brazil’s two biggest cities, Rio de Janeiro and Sao Paulo, are among the highest climbers in a list of the world’s most expensive cities to live in, as the nation’s economic growth continues to outpace Europe and the U.S.

Sao Paulo jumped to 10th place in the list of 214 cities, from 21st last year, while Rio de Janeiro surged to 12th from 29th, according to a report today from consulting firm Mercer. Luanda in Angola remained the world’s most expensive city as accommodation prices hit a record. Tokyo retained second spot, while Geneva, at 5th, and Zurich at 7th, were Europe’s only top 10 entries. No U.S. city made the top 10. Moscow was fourth.