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Overseas Health Insurance News: Tokyo most expensive destination for expats

Tokyo is still the most expensive place in the world to be an expatriate, according to the latest monitoring which has been carried out.

EuroCost International found that the Japanese city tops the cost of living rankings for expats with Luanda, the capital of Angola, and Moscow taking up the next two positions.

Expat living costs, including housing were collected in June and then calculated using August's exchange rates in order to distinguish which cities were the most expensive to live in.

Many cities within the eurozone have dropped in the rankings as a result of the financial crisis and weakening currencies.

Paris is the most expensive eurozone city in which expats can live and was positioned at number 23 in previous worldwide rankings.

It has now slipped to number 39, making it a better option for those wishing to move abroad, but not move to far flung destinations such as the Middle East.

With regard to the whole of Europe, Moscow is the most expensive expat city, followed by London and then Geneva.

The most expensive cities in the Americas are situated in Brazil, despite a depreciated currency, but it is an up and coming destination.

Australia continues to be an expensive place for expats to relocate to with both Sydney and Canberra appearing in the top 20 rankings.

The top 20 most expensive cities in terms of living costs for expats are:

1. Tokyo
2. Luanda
3. Moscow
4. Singapore
5. London
6. Hong Kong
7. Sydney
8. Port Moresby
9. Geneva
10. Kinshasa
11. Oslo
12. Canberra
13. Shanghai
14. Beirut
15. Seoul
16. Beijing
17. Zurich
18. Sao Paulo
19. Rio de Janeiro
20. Caracas

Anyone thinking of moving abroad should take the cost of living into account as well as a number of other factors.

These can range between the level of wages expected to be paid, the sorts of taxes which are charged and the cost of travelling home.

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