European cities make expensive destinations

NEW YORK — Planning a European summer vacation? Save your money.

Eight of the 10 costliest cities worldwide are located in Europe, according to a recent survey from The Economist Group.

Oslo, Norway, topped the list of the most expensive, followed by Paris, Copenhagen, Denmark and London. Two Japanese cities broke into the top 10: Tokyo — which claimed the top spot in 2005 and came in second last year — at fifth and Osaka Kobe at sixth.

Reykjavik, Iceland; Zurich, Switzerland; Frankfurt, Germany; and Helsinki, Finland rounded out the 10.

“The strength of European currencies plays a large part,” in unseating Tokyo from the top five, said Jon Copestake, the survey’s editor. “But prices in Europe are also rising whereas those in Japan have been almost static.”

Still dreaming of that trip to Europe? Consider the cheaper European capitals of Greece (Athens tied at No. 55), the Czech Republic (Prague tied at No. 55), Portugal (Lisbon at No. 59), and Poland (Warsaw at No. 63).

It may be an even better idea to stay close to home. The falling dollar and declining inflation made the United States affordable, even for a penny-pincher. New York, the most expensive U.S. city, didn’t show up on the list until No. 28. Chicago followed at No. 36 and Los Angeles at No. 41.

Atlanta claimed the title of cheapest U.S. city at No. 84.

Moscow — tied for No. 26 with Amsterdam, Netherlands — edged out New York, while two cities in Canada — Vancouver and Montreal — gave the Big Apple a run for its money at Nos. 36 and 39, respectively.