US-based professional services firm,
Mercer has ranked Angolan capital,
Luanda and N’Djamena, Chad as world’s
top two most expensive cities for
expatriates in its 2014 Cost of Living
Survey.
“Rankings in many regions were affected
by recent world events, including
economic and political upheavals, which
resulted in currency fluctuations, cost
inflation for goods and services, and
volatility in accommodation prices,” said
Ed Hannibal, Partner and Global Leader
for Mercer’s Mobility practice.
Hannibal added that although
N’Djamena and Luanda are relatively
inexpensive cities, they remain costly for
expatriates to live in as imported goods
come at a premium. Standard and
secure accommodations suitable for
expatriates also come at a high price.
“This is generally why some African cities
rank high in our survey.” Weakening
currencies against the dollar is another
reason why African cities rank high
Mercer’s survey which was designed to
help multinationals and governments
determine compensation allowances for
their expatriate employees, with New
York City used as base and all cities
compared against it.
211 cities across five continents were
covered in the survey that measures
comparative cost of more than 200
items, including food, housing, clothing,
transportation, entertainment and
household goods, in each location.
Asian and European cities remain
dominant in the top ten costliest cities
list as Hong Kong ranked third, followed
by Singapore. Zurich, which was eighth in
the 2013 ranking ranked fifth and
Geneva followed in sixth place.
Other cities appearing in the top 10 of
Mercer’s costliest cities for expatriates
are Tokyo, Bern, Moscow, and Shanghai.
Mercer ranked Kenyan capital city,
Nairobi as the 117th most expensive of
211 cities surveyed, with the East
African city moving up 30 places from
last year’s 147th ranking.
“Dhaka and Nairobi, both 117, and
Dubai, 67, soared 37, 30 and 23 spots,
respectively,” said Nathalie Constantin-
Métral, a principal at Mercer, who noted
that “Several cities jumped up the list
this year following large increases in
both accommodation cost and demand,
coupled with strong local currencies.”
Seychelles capital city, Victoria, ranked
13th, followed by Libreville, Gabon, 19,
Cape Town, South Africa ranked 205.
Managua, Nicaragua; Islamabad,
Pakistan; Bishkek, Kyrgyzstan;
Windhoek, Namibia; Karachi, Pakistan
were ranked as the least expensive cities
in the list. [VA]
Mercer has ranked Angolan capital,
Luanda and N’Djamena, Chad as world’s
top two most expensive cities for
expatriates in its 2014 Cost of Living
Survey.
“Rankings in many regions were affected
by recent world events, including
economic and political upheavals, which
resulted in currency fluctuations, cost
inflation for goods and services, and
volatility in accommodation prices,” said
Ed Hannibal, Partner and Global Leader
for Mercer’s Mobility practice.
Hannibal added that although
N’Djamena and Luanda are relatively
inexpensive cities, they remain costly for
expatriates to live in as imported goods
come at a premium. Standard and
secure accommodations suitable for
expatriates also come at a high price.
“This is generally why some African cities
rank high in our survey.” Weakening
currencies against the dollar is another
reason why African cities rank high
Mercer’s survey which was designed to
help multinationals and governments
determine compensation allowances for
their expatriate employees, with New
York City used as base and all cities
compared against it.
211 cities across five continents were
covered in the survey that measures
comparative cost of more than 200
items, including food, housing, clothing,
transportation, entertainment and
household goods, in each location.
Asian and European cities remain
dominant in the top ten costliest cities
list as Hong Kong ranked third, followed
by Singapore. Zurich, which was eighth in
the 2013 ranking ranked fifth and
Geneva followed in sixth place.
Other cities appearing in the top 10 of
Mercer’s costliest cities for expatriates
are Tokyo, Bern, Moscow, and Shanghai.
Mercer ranked Kenyan capital city,
Nairobi as the 117th most expensive of
211 cities surveyed, with the East
African city moving up 30 places from
last year’s 147th ranking.
“Dhaka and Nairobi, both 117, and
Dubai, 67, soared 37, 30 and 23 spots,
respectively,” said Nathalie Constantin-
Métral, a principal at Mercer, who noted
that “Several cities jumped up the list
this year following large increases in
both accommodation cost and demand,
coupled with strong local currencies.”
Seychelles capital city, Victoria, ranked
13th, followed by Libreville, Gabon, 19,
Cape Town, South Africa ranked 205.
Managua, Nicaragua; Islamabad,
Pakistan; Bishkek, Kyrgyzstan;
Windhoek, Namibia; Karachi, Pakistan
were ranked as the least expensive cities
in the list. [VA]
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