In 2017, the Angolan capital Luanda knocked off the 2016 most expensive city, Hong Kong from the top spot in an annual survey by Mercer Consulting to emerge the most expensive city in the world.
The survey found the cost of renting a two-bedroom apartment suitable for expatriates in Luanda was £4,800 ($6,055) per month, while a fast food hamburger meal priced at £11.50.
The survey included 209 cities across five continents and measures the comparative cost of more than 200 items in each location, including housing, transportation, food, clothing, household goods, and entertainment.
It wasn’t a surprise anyway that Luanda topped the survey the second time in three years due to the expenses of goods and security.
Also, the last year’s report placed countries in Asia and Europe behind Luanda, with Hong Kong in second place, followed by Tokyo, Zurich, and Singapore respectively.
Switzerland was named Europe’s most expensive country, with its three cities in the top 10; Zurich, Geneva, and Bern.
As well, UK cities dropped down the rankings as a result of the pound weakening against the US dollar following the Brexit vote. London ranks 30th (falling 13 places), Aberdeen 146th (falling 61) and Birmingham 147th (falling 51).
While Mercer – designed to help multinational companies and governments determine compensation allowances for their expatriate employees – is yet to release its 2018 cost of living survey, Economist Intelligence Unit (EIU) has dropped its Worldwide Cost of Living Survey. Fortunately, the report is similar to the one done by Mercier last year except that Angola was pushed out of the list.
According to the 2018 EIU survey, Europe and Asia-Pacific cities topped the ranks of the most expensive places. On the list, Singapore holds the highest rank for the outrageous prices for owning a car and buying clothes in the city.
This year’s survey found that factors like the instability of housing markets and inflation for goods and services contributed to the overall cost of doing business in today’s global environment.
The overall prices used in the calculations are converted to U.S dollars which means that the entire thing is tied to how much the dollar is worth.`
The survey considered prices of 150 products like the cost of drinks, food, clothing, household supplies, personal care items, home rents, utility bills, domestic help, recreational costs, transport across 133 cities in the globe.
Check out the List of the most expensive and least expensive cities in the world, 2018.
2. Paris, France
3. Zürich, Switzerland
4. Hong Kong
5. Oslo, Norway
6. Geneva, Switzerland
7. Seoul, South Korea
8. Copenhagen, Denmark
9. Tel Aviv, Israel
10. Sydney, Australia
Cheapest Cities In The World
In as much as the world’s most expensive places to live are basically in Asia, the continent houses some of the world’s most affordable destinations – for instance, Bangalore, Chennai, and New Delhi – as they gave good values, based on the survey. Also on the cheaper end of the spectrum are Almaty, lagos, Algiers, and Karachi.
Damascus, Syria, was named the cheapest of the cities reviewed, followed by Bucharest Caracas, Venezuela, and Almaty, Kazakhstan at the other end of the cost-of-living spectrum. See the list below;
10. New Delhi
World’s 10 most expensive cities in 2017
In 2017 survey, Luanda was followed by Victoria in the Seychelles ranking 14th, N’Djamena in Chad 16th, and Kinshasa in the Democratic Republic of the Congo 18th.
Surprisingly, the commercial capital of Nigeria Lagos was 29th on the list and not among the top five African cities that are very expensive. We bring you the first 10 most expensive cities from 2017 ranking for travellers to have full understanding of where to explore.
1. Luanda, Angola
2. Hong Kong, Hong Kong
3. Tokyo, Japan
4. Zurich, Switzerland
5. Singapore, Singapore
6. Seoul, South Korea
7. Geneva, Switzerland
8. Shanghai, China
9. New York City, USA
10. Bern, Switzerland
World’s 10 least expensive cities in 2017
The survey also looked at the cheapest cities in the world and Tunis, the capital of Tunisia, Bishkek, the capital of Kyrgyzstan, and Skopje, the capital of the Republic of Macedonia, are among the most inexpensive for expats.
Also cities like Karachi in Pakistan, Moneterrey, Mexico, Sarajevo, Bosnia and Herzegovin were as well placed at the other side of the spectrum last year.
200. Minsk, Belarus
201. Karachi, Pakistan
202. Sarajevo, Bosnia, and Herzegovina
203. Monterrey, Mexico
204. Tbilisi, Georgia
205. Blantyre, Malawi
206. Windhoek, Namibia
206. Skopje, Macedonia
208. Bishkek, Kyrgyzstan
209. Tunis, Tunisia