The most expensive city to live in for expatriates
Human Resource Consultancy Company Mercer has just released its 2015 cost of living ranking. The most expensive city in the world for expatriates is the city of Luanda, the capital of oil-rich Angola while the highest ranking Asian city to live in is Hong Kong, up a notch from last years ranking of 3. Asian countries in the top ten are Singapore ranked fourth with Shanghai, Beijing, Seoul, ranking six, seven & eight respectively.
Mercer’s survey ranks 207 cities across five continents and compares the cost of over 200 items in each location, including housing, transport, food, clothing, household goods, and entertainment in U.S. dollar terms. It is used to help multinational companies and governments determine compensation allowances for their expatriate employees.
This year’s survey found instability in housing markets and inflation for goods and services were among the biggest swing factors in the cost of doing business in a global environment.
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