Most expensive cities in the world
European Cities, African and Asian cities dominate the most expensive for expats, according to a study by Mercer. In 2015, Bucharest ranks 178, compared to 169 last year. In Bucharest, currency fluctuations caused by political and economic turmoil adds to the cost of employee mobility programs from organizations that are in the process of globalization to become competitive in other markets.
“Sending employees abroad is needed to compete in the market and retain the most talented employees and employers need a full and accurate understanding of the cost involved.”
According to the study, Asian and European cities, namely Hong Kong (2 ), Zurich (3), Singapore (4) and Geneva (5), dominates most expensive cities for expats.
The first place is, however, for the third consecutive year, Luanda, Angola’s capital.Although this city is not perceived as an expensive city, goods imported and conditions of safety and comfort for expats are available at high prices. Other cities that appear in the top 10 are Shanghai (6), Beijing (7) and Seoul (8) Asia, Bern (9) in Europe and N’Djamena (10) of Africa. The cheapest cities for expats are Bishkek, the capital Kirghizistan (207), Windhoek, capital of Namibia (206) and Karachi, Pakistan (205). The survey covers 207 cities across five continents and measures the comparative cost of over 200 items and services each of these localities. These include costs related to transportation, housing, food, clothes, household appliances and entertainment services. Europe, Middle East and Africa Three European cities are in the top 10 most expensive cities for expats. Zurich (3), the most expensive European city, followed by Geneva (5) and Bern (9). Switzerland remains one of the most expensive countries for expatriates, due to the major growth of the Swiss franc against the euro.
In addition to cities in England western European cities have dropped in the rankings, mainly if the weakening of local currencies against the US dollar. While London (12) retain their position. As a result of the weakening of local currencies against the US dollar, most cities in Central and Eastern Europe also fell in the rankings. Prague (142), Budapest (170) and Minsk (200) decreased by 50, 35 and 9 respectively seats, although the price remained rents in these localities. And Bucharest are in this situation, moving from position 169 last year to 178 in 2015.
Moscow (50) and St. Petersburg (152) decreased by 41 and 117 positions as a result of the significant depreciation of the Russian ruble against the US dollar. Tel Aviv (18) and this year the most expensive city in the Middle East, followed by Dubai (23) . America Cities in the United States massively scale up the most expensive cities in the world due to the appreciation of the US dollar against other major currencies. While New York (16) best placed city in the region, has maintained the same position as last year, on the west coast cities, including Los Angeles (36) and Seattle (106) climbed 26 respectively 27 seats.Cleveland (133) and Winston Salem (157) are the cheapest cities for expats in the US. In South America, Buenos Aires is the most expensive city, climbed 67 places and occupying position 19. The ascent this year it is due to growth Strong price of goods and services. The capital is followed by Sao Paolo Argentina (40) and Rio de Janeiro (67). Asia Pacific Five of the top 10 cities in the rankings this year are in Asia. Hong Kong (2) is the most expensive city due to its currency anchored to the US dollar and rising cost of living locally. The global financial center is followed by Singapore (4), Shanghai (6), Beijing (7) and Seoul (8) – all came up in the rankings, with the exception of Singapore which has remained on a steady position.Tokyo (11) fell four places.