London is the fifth most expensive city in the world in which to live and work, but its workers are not among the top 10 average earners globally.
The findings, from UBS, the Swiss bank, show that the widely held belief among Londoners that the city is painfully pricey to live in has some basis in reality.
“This suggests London isn’t a highly priced labour market in terms of the purchasing power of goods [and] labour remains quite competitive from a business perspective,” said Bill O’Neill, head of the UK investment office at UBS Wealth Management.
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