Yerevan was listed among the cheapest cities for an internet startup company launch, with Moscow named as the most expensive, hopesandfears.com said.

Pyortr Tatishev, curator at Digital October technology entrepreneurship center held a research to assess the annual cost of a team of two programmers and a designer in a rented office. A number of entrepreneurs in Russian and CIS cities were polled, with the following results: the Moscow office and team expenditures total $165 000, St. Petersburg - $120 000, Nizhny Novgorod - $112 500, Novosibirsk - $73 500, Tomsk - $51 938, Taganrog - $56 250, Krasnodar- $61 875, Perm - $86 250, Vladivostok - $75 000, Minsk (Belarus) - $60,000, Tbilisi (Georgia) - $38 400 and Yerevan (Armenia) - $52 800.

A similar study covering a number of cities from London to Mumbai was held by Staff.com HR source. The study showed that Philippines will provide the most cost-saving in launching a startup, with a year of work in Manila paying 6,5 times less than in Zurich, Sydney or New York.