Heard of Luanda?
It’s only a very pricey city for expats but it has given way to Hong Kong, the new No. 1 in a survey by consultancy firm Mercer.
BBC is reporting that Hong Kong has leapfrogged the Angolan capital, which has consistently dominated the rankings in recent years, thanks to the latter’s weakening currency.
Zurich and Singapore are third and fourth, respectively, unchanged from last year. Tokyo is No. 5, up a notch.
The survey is designed for companies to calculate expat workers’ allowances.
It factors in the cost of living in 209 cities, comparing the cost of more than 200 items in each location, including housing, transport, food, clothing and entertainment.
Kinshasa is sixth on the list, appearing in the top 10 for the first time, followed by Shanghai, Geneva, N’Djamena and Beijing.
Mercer said that the rankings were affected by “volatile markets and stunted economic growth in many parts of the world”.
The world’s least expensive cities for expats, according to the cost of living survey, is the Namibian capital Windhoek, followed by Cape Town.
A survey earlier this year, by the Economist Intelligence Unit (EIU), ranked Singapore as the priciest city in the world ahead of Zurich, Hong Kong, Geneva and Paris, BBC says.
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