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Overseas Health Insurance News: Oslo more expansive than Tokyo to be an expat

For years Tokyo has been the most expensive place to be an expatriate, but its title has been taken by the capital of Norway, Oslo.

This is according to the latest research carried out by ECA International, which takes inflation, exchange rates, rental prices and the cost of typical goods bought by expats into account.

The Japanese capital is still in the top ten costliest locations, along with Luanda in Angola and Juba in Sudan.

Now the list is dominated with African cities and those in Norway, with Stavanger – the third largest city in Norway – coming in at number three.

The northern nation is an expensive place for foreigners to live due to the strength of its currency, the krone, and the large revenues it brings in from its oil reserves.

A British expat told the Telegraph: "As I work in the oil industry, Norway often comes up as a possibility for relocation.

"But Norway has high taxes, is very cold and was already expensive for a foreigner. For me, the Middle East is a far more attractive option."

When relocating it is always a good idea to take all of these factors into consideration as quality of life is very important, especially if you are moving your family abroad.

The Japanese capital has moved down the list to number six because of a recent devaluation in the yen by the Bank of Japan.

Meanwhile the depreciating pound against a number of major currencies has meant that British cities are becoming more affordable for foreigners wishing to relocate here.

London now languishes at number 87 globally, having dropped 21 places.

Varying factors affecting Australia mean that this expat favourite has seen a number of its cities move a little further up the list.

Sydney is at number 17 and Canberra number 23, as the Aussie dollar has weakened against some currencies, but remains relatively strong in comparison to others.

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