Wondering Why?

Why is London so expensive?

Why is London so expensive?

London ranked 17 in the most expensive cities to live in any part of the world according to the Cost of Living Survey” done by Mercer dated 2010. Living in London is so expensive that according to workgateways.com the average cost of accommodation in South London ranges from £600 – £700 (the cheapest), average weekly grocery bill (includes food, toiletry and laundry items for 2 individuals) amounting to £60, weekly zone 1-6 travel card costs £41, and movies that are worth £7 – £10 per viewing just to give an idea. So the question that most people would like to ask is why London is so expensive?” here are the common answers:
London is the capital city of United Kingdom and of England. And just like in any country, the capital city is always the place where the standard of living is high.
London is considered as one of the world’s major financial centers together with New York. It is a home to 75% of Fortune 500 companies, media companies, and professional services among many others.
Because of the affluent status of London, it attracts the rich and famous people from around the world just to visit or live there. And when the population in a certain city (like London) is mostly well-off, the prices in the market are also high.
London also attracts a relevantly high number of tourists from around the world which the city takes advantage of. It is considered as the world’s most visited city as London is able to produce over 15 million visitors annually. The city is filled with various historical and cultural places that travelers and locals do admire.
London has a workforce that is highly paid. The companies in London are able to compensate its labor force with enough salary so they can afford to purchase their basic needs.
And, London imposes higher tax rates as compared to other countries.

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