Zurich is the world's most expensive city

Zurich in Switzerland has been named the most expensive city in the world, according to a report by Swiss bank UBS.

See also: The ten cheapest cities in Europe for a winter break

The study looked at monthly living costs for a family of three that go beyond 3,500 euros. This figure is based on a shopping list of 122 goods and services but don't include rent.

Zurich is closely followed by Geneva and New York, while London comes in fifth.

Workers in Zurich are among the most well paid, earning on average around 36 euros per hour, but the high prices mean that the Swiss cities are among the most expensive to visit. In Geneva, Zurich, together with New York and Tokyo, a one-night city break costs at least $1,000 for two people, excluding transportation, according to UBS. That's almost four times the cost of visiting Bucharest, which came in as one of the cheapest cities in the world.

See also: unusual city breaks to get you off the beaten track

The Ukrainian capital Kiev is the cheapest in the world, followed by Sofia and Bucharest.

The study found that the following were the world's ten most expensive cities:

1. Zurich
2. Geneva.
3. New York
4. Luxembourg
5. Miami
6. Los Angeles
7. Chicago
8. Sydney
9. Oslo
10. Montreal


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