Cost of Living Survey Shows Priciest Cities in the World for Expats
12th June 2012 17:05 - Sport, Leisure and Tourism
Mercer's latest Cost of Living Survey has uncovered the most expensive cities in the world for expatriates according to current statistics.
Spanning 214 cities across the globe and with New York used as a yardstick, the survey found Tokyo is still the most expensive hub for expatriates, while surprisingly the Angolan capital Luanda rates second in terms of living costs.
In contrast, the port city and financial centre of Pakistan Karachi is the cheapest – it is less than a third as expensive as Japan’s capital.
The market research also focussed on the UK, where despite high inflation over the past year, the strengthened dollar against the pound has meant that British cities have become more cost effective.
London remains as the most expensive city in the UK for expatriates, although it has slipped seven places from last year. Meanwhile, Belfast is the least expensive city in Britain, up 13 places in the ranking since 2011.
Milan Taylor, Head of Data and Product Services for Mercer in the UK and Ireland, commented: "Despite price increases on goods and services most UK cities moved down in the ranking this year, following the loss in value of the British pound against the US dollar. However, Birmingham and Belfast bucked the trend, moving up in the ranking mainly because rental costs for expatriates increased a fair bit and price increases in these cities were higher than in say London and Glasgow."
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