London looses the crown of most expensive city to Oslo

London has been swinging on the pendulum of the ‘most expensive city in the world’. Though it topped the list of the world’s most expensive cities for 2008, today it has toppled off to the 21st position. According to the UBS rankings, the pound’s steep devaluation is the prime reason for such a brusque fall. Blaming the fluctuating currencies since to the economic downfall, even the hotels in this region are showing a 25% drop in their rates. However Oslo has survived the recession hurricane to bag the number one position on the 2009 list. So it’s time to grab tickets to London as it still boasts of the best nightlife, best public parks and most free attractions. While Zurich is settled on the 2nd place, another Scandinavian city, Copenhagen, holds the 3rd rank in the list of the most expensive and richest cities in the world for 2009.