Luxembourg City ranks in 5th place in a recent study of global purchasing power. This is in particular due to high earning levels. The study “Cost of living in cities around the world” by UBS is based on a survey on the prices of 128 goods and services, and earnings for 15 professions in 77 cities worldwide. It compares earning levels with the cost for an average shopping basket to come up with a purchasing power index. The higher the city is in the ranking, the more people in that city can afford.
The study places Luxembourg on the 5th place for purchasing power, behind Los Angeles, Zurich, Miami and Geneva. The city ranks 15th in terms of general price levels and is 3rd on the list of the cities with the highest average earnings, behind Geneva and Zurich.