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Luanda overtakes Tokyo as most expensive world city for expats
| Published: | 24 Jul at 6 PM |
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Results of a recent survey have confirmed the capital of Angola, Luanda, as the world’s most expensive city for expat living.
The survey took in 214 world cities and cited security costs as the reason for Luanda’s top position. Undertaken by Mercers as part of its yearly World Cost of Living Survey, the poll uses New York as the base city, and examines comparative prices in each city surveyed.
According to the company, Angola is relatively poor in spite of its position as one of Africa’s largest oil producers, with imported goods popular with expatriates sporting high prices. Secure accommodation at a standard acceptable to expats is also expensive and challenging to find, according to Mercer senior partner Barb Marder.
Moscow is the second most expensive city, with Tokyo in third place followed by the Chad capital Ndjamena. Singapore and Hong Kong took the fifth and sixth places, with Geneva. Zurich and Berne following, and Sydney came in at tenth place.
Survey complier Nathalie Constantin-Metral noted that, overall, living costs in European cities had increased due to local currencies strengthening against the dollar. 50 per cent of Asian cities ranked lower this year due to weaker local currencies.
Comparisons included the cost of a month’s rent on a Luanda luxury two-bedroomed apartment at $6,500, with the cost of a similar Moscow apartment at $4,600. A cup of coffee in Singapore is $4.84; in Moscow it’s $8.29 and in Zurich it’s $5.98, with cinema tickets in London costing $20.10 and the same seat in Zurich priced at $20.66.
The survey took in 214 world cities and cited security costs as the reason for Luanda’s top position. Undertaken by Mercers as part of its yearly World Cost of Living Survey, the poll uses New York as the base city, and examines comparative prices in each city surveyed.
According to the company, Angola is relatively poor in spite of its position as one of Africa’s largest oil producers, with imported goods popular with expatriates sporting high prices. Secure accommodation at a standard acceptable to expats is also expensive and challenging to find, according to Mercer senior partner Barb Marder.
Moscow is the second most expensive city, with Tokyo in third place followed by the Chad capital Ndjamena. Singapore and Hong Kong took the fifth and sixth places, with Geneva. Zurich and Berne following, and Sydney came in at tenth place.
Survey complier Nathalie Constantin-Metral noted that, overall, living costs in European cities had increased due to local currencies strengthening against the dollar. 50 per cent of Asian cities ranked lower this year due to weaker local currencies.
Comparisons included the cost of a month’s rent on a Luanda luxury two-bedroomed apartment at $6,500, with the cost of a similar Moscow apartment at $4,600. A cup of coffee in Singapore is $4.84; in Moscow it’s $8.29 and in Zurich it’s $5.98, with cinema tickets in London costing $20.10 and the same seat in Zurich priced at $20.66.
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