Mercer’s annual Cost of Living Survey has found that Asian, African, and European cities dominate the list of most expensive locations for expats working abroad.
Over 400 cities
The survey, which includes over 400 cities across five continents, measures the comparative cost of more than 200 items in each location, including housing, transportation, food, clothing, household goods, and entertainment.
‘Top spot’
It may surprise some to hear that the costliest city for expats – as a result of the cost of goods and security – is Luanda (1), the capital of Angola. Knocked off the top spot into second place this year is Hong Kong. Completing the ‘top five’ are Tokyo (3), Zurich (4), and Singapore (5).
Least expensive…
At the other end of the spectrum, the world’s least expensive cities for expatriates are Tunis, Bishkek, and Skopje. All Chinese cities surveyed fell in the ranking except Tianjin (at number 12) which climbed 18 places. In fact, rankings of most Asian cities changed – currency being the key contributing factor.
Core component
In a rapidly changing world, mobility has become a core component of multinational organisations’ global talent strategy. To support the growing number of international assignees working in an increased number of locations, organisations are focusing on evaluating assignments from a cultural perspective, preparing for regional and lateral moves, and modifying compensation approaches to stay competitive.
More info
Mercer’s 23rd annual Cost of Living Survey finds that factors like instability of housing markets and inflation for goods and services contribute to the overall cost of doing business in today’s global environment. The individual cost of living and rental accommodation cost reports for each city surveyed, and more information on city rankings, are provided at here.
