cost of living

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Also, as noted by Pasha and Pasha (1999) there is likely to be a very ambiguous relationship between city size and cost of living, with land values and congestion costs increasing as city size increases, exerting an upward influence on cost of living whereas agglomeration economies tend to keep costs of living relatively low.
While prevailing wisdom offered hints that this perceived cost gap might not be that significant, there was no significant quantitative evidence regarding these comparative costs of living.
The Economist Intelligence Unit (EIU), a think tank affiliated with the Economist magazine, said Tokyo and the Osaka-Kobe region rank as the most expensive cities in the world, with the costs of living 40% higher than in New York, the base city in the survey.