WINSTON-SALEM, N.C. -- Winston-Salem is the most affordable place to live and do business in the United States, according to Mercer's annual Cost of Living Rankings.
The annual rankings look at 214 major cities worldwide and compare things like the cost of housing, food, entertainment, transportation and education.
Winston-Salem city leaders say being on the list is a great.
"It's a good list to be on," says Mayor Allen Joines.
Touted as the world's most comprehensive cost of living survey, the international financial advising company says the survey is meant primarily for companies looking to compare and determine compensation for employees working all over the world.
But local leaders say the survey proves the Piedmont is a good place to live and start your business.
Rich Geiger of Visit Winston-Salem says, "its about value there are probably other places that are less expensive to live in the country but do they offer the array of art, culture, and history, restaurants, sports and major universities? That's what you have to look at," says Geiger.
Mayor Allen Joines says while such lists don't carry a lot of weight in the world of business recruitment, they do help.
"Companies look at cost of doing business in community, the utilities, things of that nature. Whether or not a general ranking makes a difference I'm not sure, but it may get some attention," says Joines.
Tokyo topped the list of as the world's most expensive city.
New York was once again listed as the most expensive city in the U.S.