Paris vs London - 2007 report

Paris/London benchmark How does France compare? 1 As two of the most important economic hubs in the world, Paris and London are top-choice destinations for international investors in Europe. Both cities boast talented workers, productive labor forces and world-class infrastructure. When overall key living and business factors are compared, Paris offers many advantages over London. It has a modern and efficient transportation network, and is centrally located in the heart of Europe and the single European market. As the world's leading tourist destination (78 million tourists in 2006), France is a diverse nation, with a high standard of living that complements the economic benefits of Paris. The cost of setting up a business in London has now reached a very high level, giving Paris a significant competitive edge. 7 good reasons to choose Paris over London: > More affordable living > Higher quality of life > Lower apartment and housing rental prices > Cheaper and more efficient transportation > Less expensive office set-up costs > Better corporate real estate prices > Greater access to international conferences and exhibitions Cost of living (most expensive city index: New York City = 100) Mercer Human Resources Consulting, Cost of Living Survey, 2006 15th (93. 1) 5th (110. 6) Paris, the world's cultural capital Mercer Human Resources Consulting, Worldwide Quality of Living Survey, 2006 1st 3rd Average rent for a three-room, unfurnished apartment in a residential area UBS, Prices and Earnings: A Comparison of Purchasing Power Around the Globe, 2006 $1,886 $4,380 Buying price per m2 for luxury apartments Knight Frank and Citi Private Bank, Wealth Report 2007, May 2007 $15,876 $46,368 Average cost for a roundtrip train ticket (2nd class traveling North-South) www. sncf. fr and www. rail. co. uk $98. 5 (Paris-Lyon) 460 km $189 (London-Liverpool) 340 km Public transportation costs (Zones 1 and 2): - Price of a single metro ticket - Price of a weekly metro pass - Price of a monthly metro pass www. ratp. fr and www. tfl. gov. uk $1. 76 $20 $66 $7. 56 $46 $176 NB : Prices are in USD, with an exchange rate of $1. 26 for 1. Paris LondonLiving May 2007