UBS’s 2018 Cost of living in cities around the world external link survey, released on May 29, revealed Zurich and Geneva, both in Switzerland, as the world’s two most expensive major cities.

The data was collected between January and April this year with UBS also taking into account earnings for 15 professions in 77 selected cities worldwide.

The two Swiss cities beat New York (the US), Oslo (Norway) and Copenhagen (Denmark) in terms of being most expensive.

UBS based its calculations on a basket of 128 goods and services representing the spending habits of a three-person European family – with separate data sets including and excluding rent, the single largest cost for most people.