Call us today: +44 (0) 20 3551 6634
Mercer have released their cost of living city rankings for 2014. The data behind the list is compiled of more than 200 goods and services including transport, housing, clothing, food and entertainment. The comparison consists of the cost of living for expats in 211 cities all over the world. The rankings allow expats to can get a rough idea of which cities will cost them the most.
In what may be a surprising revelation, two African cities made the top of the list as the most expensive places for expatriates to live.
Luanda in Angola is the most expensive city in the world to live in and it also ranked number 1 in 2013. In second place is N’Djamena in Chad. The two cities are not generally recognised as wealthy or developed in comparison to other cities around the world. The cities thrive because of the high-quality imported goods. As a result, life can be quite expensive for expats.
Hong Kong climbed up three places from last year to take the number 3 spot. Tokyo has dropped from 3rd place last year to 7th this year. Although this year the yen has weakened against the US dollar, Asian cities are thriving due to rapid development. Hong Kong also remains a favourite hotspot for expatriates looking for enhanced career opportunities. Singapore has climbed one place to position 4 as it is a prime spot for international business.
Four European cities made their way into the top 10 list. Zurich ranks number 5, making it the most costly European city to live in. There have been rising prices in Switzerland over the last few years and this is because the Swiss Franc is considered to be safe and stable, particularly with the debt crisis in Europe. Other European countries in the top 10 include Geneva and Bern, at numbers 6 and 8 respectively.
Interestingly enough, no UK or US cities made it in the top 10. This is most likely due to the fact that rankings in several regions were particularly affected by recent world events. There have been several political and economic disruptions resulting in the debt crisis, inflation for services and good and fluctuations in currency.
Despite not making the top 10, cities in the UK and US have jumped up the ladder most likely due to the stabilising and strengthening of their currencies. London ranked 12 and New York ranked 16.
At the bottom of the list, ranking at 211 is Karachi in Pakistan. It is the least expensive city in the world for expats. In fact, the survey revealed that Luanda is more than three times as expensive as Karachi.
Karachi is in fact, a popular destination for domestic and international tourists. Moreover, it is a centre of research in biomedicine. It has more than 80 private hospitals and 30 public hospitals.
Expatriate Group.Delmon House,36-38 Church Road,Burgess Hill,West Sussex,RH15 9AE
Registered Address.35 Ballards Lane,London,N3 1XW
Tel: +44 (0)20 3551 6634Fax: +44 (0)870 428 5141Email: firstname.lastname@example.org
Short Term Healthcare Insurance
Travel Medical Insurance One Way Travel Insurance Single Trip Travel Insurance Annual Multi-Trip Travel Insurance Non UK Resident Travel Insurance Business Travel Insurance
About Us Useful Links Leave a Review Our Awards The Press Room Satisfaction Survey Downloads Legal Notice Underwriters Hospital List
Emergency Assistance information Short-Term Healthcare Working Abroad Insurance Thailand Health Insurance
Register as an Intermediary Opportunities for Brokers
Expatriate Group & Expatriate Healthcare are trading styles of Strategic Insurance Services Limited who is authorised and regulated by the Financial Conduct Authority (FCA). FCA Firm reference Number is 307133. Strategic Insurance Services Limited is authorised to carry on Regulated Activities in accordance with the permissions granted by the FCA under PART IV of the Financial Services and Markets ACT 2000.