What can you buy with your money?

The most recent global UBS Prices and Earnings Survey (2008 update) shows that Helsinki is the 7th most expensive city in the world BUT average wage levels in Helsinki are also the 8th highest in the world. Toronto is only the 19th most expensive city in the world but the average wage levels here fall way below Helsinki, most European cities and some major cities in the US.

What that means is that, according to the survey, the average domestic purchasing power in Helsinki is way higher than in Toronto. The same applies to most cities in the Euro zone vs. TO. People in Helsinki have the 10th best purchasing power in the world, whereas Torontonians are number 20. And that's including rent. You get paid so much better in Helsinki that you can afford more than here in Toronto, even though nominal prices here are lower. The best average purchasing power in the world is in Copenhagen, Zurich and Berlin (Berlin is interesting, too, because prices there are lower than in Toronto, but people there still earn more and get more benefits than in Toronto, enabling them to buy more).