World’s Most Expensive Cities for Travelers

iStockphoto/Thinkstock(NEW YORK) — Americans have an average summer vacation budget of $1,180 per person, according to a recent survey by American Express.  That may sound like a lot but it may not be enough to foot the bill to one of the world’s most expensive cities.

A new study from TripAdvisor.com ranks the world’s priciest cities based on four criteria: The price of a hotel room, the price of cocktails and dinner for two and the price of a round-trip taxi ride.

London ranks as this summer’s priciest destination, and it’s no wonder.  As the host of the 2012 Summer Olympics and a barrage of recent media coverage of the Queen’s Diamond Jubilee, the city is on everyone’s hot list right now.

New York was the only U.S. city to make the top 10, coming in sixth.  Although the average hotel rate in Boston is actually higher than that in New York, it’s those added expenses, like a taxi and a night on the town, that can take a bite out of the budget.

“For American travelers planning city trips, it’s important to have an understanding of the day-to-day destination expenses,” said Brooke Ferencsik, director of communications for TripAdvisor.

So which other cities made the top 10?  Here’s the list:

1. London
2. Oslo, Norway
3. Zurich
4. Paris
5. Stockholm
6. New York City
7. Moscow
8. Copenhagen, Denmark
9. Sydney
10. Singapore

Copyright 2012 ABC News Radio