afaqassociation.org

By Steven Coleman

Tokyo is the most expensive city in Asia-Pacific and the world. Hong Kong the second most expensive location in the world (and most expensive in greater China.)

Tokyo is comparatively inexpensive for alcohol & tobacco, however it is the most expensive place in the world for groceries and healthcare, and is second only to Hong Kong for housing related expenses. The Japanese Yen has strengthened by approximately 18% against the US Dollar over the past two years.

Sydney is the third most expensive city in Asia-Pacific (ranked 13 in the world). The Australian economy has seen stable growth compared to many weakening economies, while the Australian Dollar has strengthened 11% against the United States Dollar, and by 24% against the Euro in the past year.

Cities in mainland China remain relatively cheap, mainly due to the pegging of the Chinese Yuan to the US Dollar which has kept costs down. Within mainland China, Beijing (ranked 100 in the world) is the twentieth most expensive city in Asia-Pacific, followed by Shanghai (ranked 107 in the world), and Wuhan (ranked 200 in the world). The cheapest city surveyed in China is Tianjin (ranked 256 in the world) with a cost of living index of 64.07 (New York = 100).

The cheapest city in Asia-Pacific is Dushanbe in Tajikistan (ranked 279 in the world) with a cost of living index of 56.64 (New York = 100).

Most expensive cities in Asia-Pacific (Global rank in brackets)

1. Japan, Tokyo (1)

2. China, Hong Kong (2)

3. Australia, Sydney (13)

4. Australia, Canberra (17)

5. Papua New Guinea, Port Moresby (23)

6. Vanuatu, Port Vila (26)

7. New Caledonia, Noumea (31)

8. Korea Republic of, Seoul (32)

9. Australia, Melbourne (37)

10. Australia, Perth (38)

Africa’s most expensive city for expatriates is Luanda in Angola (ranked 15 in the world) with a cost of living index of 106.17 (New York = 100). Luanda is particularly expensive for education, (ranked 3 in the world), accommodation (ranked 5 in the world), and healthcare (ranked 6 in the world). Luanda is rebuilding its infrastructure after years of war, which has contributed to making goods and services purchased by expatriates expensive, as a result of lack of availability, and the cost of bringing appropriate goods and services into the country. Libreville in Gabon (ranked 20 in the world) is Africa’s second most expensive city, followed by Bangui in the Central African Republic (ranked 25 in the world) and Moroni in the Comores (ranked 27 in the world). The cheapest city surveyed in Africa is Triploi in Libya (ranked 273 in the world).

Most expensive cities in Africa (Global rank in brackets)

1. Angola, Luanda (15)

2. Gabon, Libreville (20)

3. Central African Republic, Bangui (25)

4. Comores, Moroni (27)

5. Chad, N’Djamena (30)

6. Cameroon, Douala (52)

7. Mali, Bamako (56)

8. Congo, Brazzaville (60)

9. Cameroon, Yaounde (63)

10. Nigeria, Lagos (66)

South Asia is the least expensive region in the world for expatriates to live in. The most expensive city surveyed is Mumbai (ranked 109 in the world), followed by New Delhi (ranked 148 in the world), and Chennai (ranked 149 in the world). The Indian Rupee has weakened by 7% against the United States Dollar over the past two years. The cheapest city in South Asia is Thimphu in Bhutan (ranked 281 in the world).

Most expensive cities in South Asia (Global rank in brackets)

1. India, Mumbai (109)

2. India, New Delhi (148)

3. India, Chennai (149)

4. India, Calcutta (150)

5. Maldives, Male (158)

6. India, Hyderabad (159)

7. India, Bangalore (165)

8. Afghanistan, Kabul (203)

9. Bangladesh, Dhaka (255)

10. Nepal, Kathmandu 267)

About the Author: Steven is Chief Instigator at Xpatulator.com a website that provides cost of living index information and calculates what you need to earn to compensate for cost of living, hardship, and exchange rate differences.

Source: isnare.com

Permanent Link: isnare.com/?aid=560939&ca=Finances