We often write about how obnoxiously expensive London is. From the exorbitant prices of low-end apartments to the shocking exchange rate, it may come across as the world’s most expensive city.
But, actually, it doesn’t even compare when it comes to how expensive it is for an expat to live.
The list of the most expensive cities in the world for expats, according to Mercer’s annual 2016 Cost of Living Rankings, features plenty of countries in Asia and Africa.
Surveying 209 cities where employers are most likely to send their expats to live and work, Hong Kong remains the world’s most expensive city. The average monthly rent of an unfurnished two-bedroom apartment of “international standards in an appropriate neighbourhood” costs $6,809.47 – that’s R100 000.
And you think Cape Town is an expensive city? Ha!
Second place goes to Luanda, Angola, where rent is around $6,700 (R97 000) a month.
According to the World Economic Forum:
Luanda may not be the most expensive city in the world for the local population, but thanks to a booming oil economy, a limited supply of luxurious housing, and a high demand for it among expats, the cost of living there is higher than any city in the world.
The cost of an apartment in Luanda for an Angolan https://www.aldaorg.net/buy-clomid/ household may well be only $200 a month.
But living as an expat compared to a local is indeed different. According to cnbc:
Compare Luanda’s $6,700 a month with Sydney, where a similar apartment would cost $2,636.39, or Vancouver, where monthly rent for a two-bedroom is approximately $1,737.80.
Move to London or New York, and you’ll see average two-bedroom rents of $4,583.25 and $5,1000, respectively.
Should you decide to go see a movie in any of these cities, London is by far the most expensive — a ticket will set you back $17.91.
Go to the movies in Johannesburg, and you’ll only have to fork out a little over $4.
Fancy sitting down for a cup of coffee? You’ll pay almost $8 in Hong Kong but only $2.28 in New York. And if you’re driving to get that cup of coffee, 1 litre of unleaded gasoline will cost you around the $1 range in most cities — although you’ll pay $1.79 in Hong Kong versus 48 cents in Moscow.
While all that’s been broken down for you, here are the city rankings:
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