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The cost of living in the UK has become more attractive to foreigners, with London falling down the ranking of most expensive cities in the world, a new study has indicated.   By Myra Butterworth, Personal Finance Correspondent Last Updated: 8:42AM BST 02 Apr 2009 The figures suggest that London could become a more attractive option for tourists Photo: JONATHAN LODGE London was ranked the eighth most expensive city last year, but the fall in the value of the pound against the euro has seen it drop to twenty-seventh position. The latest Economist Intelligence Unit survey, which compared the cost of living in cities across the globe between September last year and February 2009, found that London has slipped below New York for the first time since 2002.