Tokyo, the long-standing costliest place to be an expat, has finally been
overtaken by Oslo, due in part to the strength of the Krone.
12:12PM BST 20 Jun 2013
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The Japanese capital is still a very expensive city to be a foreign worker and
joins the likes of Luanda, in Angola, and Juba, in Sudan, as the top 10
costliest places to be an expat.
While African cities have moved up the ranks, so too have Norwegian ones.
Capital city Oslo tops the charts, and Norway’s third largest city Stavanger
is third on the list, according to consulting firm ECA
International.
It says the reason for Norway’s rising costs for foreign employers are due to
its strong Krone and the huge revenues the country brings in from its rich
oil reserves.
The survey takes into account inflation, exchange rates, goods that expats
typically buy and rental expenses to work out an average cost of living.
One British expat said: “As I work in the oil industry, Norway often comes up
as a possibility for relocation. But Norway has high taxes, is very cold and
was already expensive for a foreigner. For me, the Middle East is a far more
attractive option.”
Expats in Tokyo can be slightly relieved to see the Japanese capital slip to
number six in the rankings of the ECA International chart, as the yen has
been significantly devalued by the Bank of Japan. While Asian cities have
slowed their recent costs of living increases, African cities have gone the
other way.
Four of the world’s top 20 most costly places to live for expats are now in Africa. Joining Luanda and Juba are Brazzaville in the Congo and Kinshasa in the Democratic Republic of Congo.
British cities have fallen in the rankings, with London dropping 21 places to 87th globally, as the pound depreciated against other major currencies.
The Russian rouble has also weakened in the past 12 months but the cost of goods and services in Moscow has still increased more than 10 per cent. This has catapulted Moscow to fourth costliest city for an expat.
Australian cities have seen slight falls down the global rankings. While the Aussie dollar still remains a strong global currency, it has weakened against some major currencies.
In recent years, Australian cities such as Brisbane, Sydney and Perth have been creeping up the table. Sydney is the most expensive city to live in Down Under at 17th place globally while Canberra is in 23rd place.
SOURCE: TELEGRAPH
Four of the world’s top 20 most costly places to live for expats are now in Africa. Joining Luanda and Juba are Brazzaville in the Congo and Kinshasa in the Democratic Republic of Congo.
British cities have fallen in the rankings, with London dropping 21 places to 87th globally, as the pound depreciated against other major currencies.
The Russian rouble has also weakened in the past 12 months but the cost of goods and services in Moscow has still increased more than 10 per cent. This has catapulted Moscow to fourth costliest city for an expat.
Australian cities have seen slight falls down the global rankings. While the Aussie dollar still remains a strong global currency, it has weakened against some major currencies.
In recent years, Australian cities such as Brisbane, Sydney and Perth have been creeping up the table. Sydney is the most expensive city to live in Down Under at 17th place globally while Canberra is in 23rd place.
SOURCE: TELEGRAPH
