As per an annual survey by consultancy Mercer, the Angolan capital, Luanda, remains the world’s most expensive city for expatriates, while Kyrgyzstan’s Bishkek is the “cheapest” one.
Luanda has held its position for the past three years because of the high cost of rent, imported goods and security in the oil-rich nation, the BBC reported.
Weakened European currencies
Nathalie Constantin-Metral, principal at Mercer, said that European currencies have weakened against the U.S. dollar, which pushed most western European cities down in the ranking.
Ms. Constantin-Metral added that other factors such as the eurozone’s economy, falling interest rates and increasing unemployment have impacted these cities.
The top 10 most expensive cities in 2015 are: 1. Luanda, Angola 2. Hong Kong 3. Zurich, Switzerland 4. Singapore 5. Geneva, Switzerland 6. Shanghai, China 7. Beijing, China 8. Seoul, South Korea 9. Bern, Switzerland 10. N'Djamena, Chad
Least expensive cities in 2015 1. Bishkek, Kyrgyzstan 2. Windhoek, Namibia 3. Karachi, Pakistan 4. Tunis, Tunisia 5. Skopje, Macedonia 6. Banjul, Gambia 7. Minsk, Belarus 8. Cape Town, South Africa 9. Managua, Nicaragua 10. Tbilisi, Georgia
