Rio de Janeiro ranked 28th among the most expensive cities for foreigners in 2010. In 2009, Rio was ranked 132th in the same study. Quite a change.
The study was conducted by ECA INTERNATIONAL, a British consulting company.
All other cities in the Americas were considered cheaper than Rio. That includes New York City. Furthermore, Rio’s position could have been even higher had the data been analyzed before the Euro’s recent loss in value.