London Now Cheaper Than New York

The latest cost of living survey from the Economist Intelligence Unit reveals London has slipped out of the top ten most expensive cities in the world - from 8th to 27th. As retailers cut prices and the pound slowly dies on its arse, our bonny city is now less expensive to visit than New York for the first time in seven years (yes, this is all about visitors. Not much use to those of us who actually live here). The news also prompted an amusing bout of rose-tinted-spectaclesness from the New West End Company's Jace Tyrrell, as he rejoiced in the high number of overseas shoppers: "walking down Oxford Street on a Saturday now feels as if you're in Paris". Hmm. The last time we were on Oxford Street there was a distinct lack of wide, leafy boulevards, rude waiters and dog poop, but there you go. From our own point of view, Reykjavik's looking a good bet for a holiday, as its collapsing economy puts it at number 67 - three places above Manchester. (Image / Mark Heard)