10 Most Expensive Cities from Mercer’s Expat Cost of Living 2013 SurveyBusiness in Toronto / Ontario, News, Toronto News | Elyse | August 9, 2013 at 12:01 am
I always find country and city rankings interesting and I’ve certainly featured my share here in posts like the best country to live, the smartest countries, the best countries for higher education, the happiest countries, the most peaceful countries, the most sustainable countries, the friendliest countries, the most charitable countries, the most prosperous countries, the best countries for quality of life, the best countries for business, the top countries for life expectancy, the best countries for working women, the best country for world travel & tourism, the best countries for human development, the best countries from social progress, the most popular countries, the least corrupt countries, the best countries for paid vacation days, the countries with the best reputation, the best countries for global professionals, the most livable city, the best city to live, the greenest city, the best city for opportunity, the best city for quality of living, the most competitive cities, the smartest cities and the best cities of the future. Today, I’m adding to this list with the top 10 most expensive cities for expatriates according to the 2013 Cost of Living Survey released by Mercer, a global talent, health, retirement and investment consulting leader.
The 2013 Cost of Living City survey “is one of the world’s most comprehensive, and is designed to help multinational companies and governments determine compensation allowances for their expatriate employees. New York is used as the base city, and all cities are compared against it. Currency movements are measured against the US dollar.” The survey covered 214 cities and measured the comparative cost of over “200 items in each location, including housing, transportation, food, clothing, household goods, and entertainment.” Examples of costing included in the report are accommodation rental, a cup of coffee, one movie ticket and one issue of an international newspaper. This is clearly a compressive resource when it comes to researching the costs associated with living in these cities. Based on the data collected, the 10 most expensive cities are:
- 1. Luanda, Angola
- 2. Moscow, Russia
- 3. Tokyo, Japan
- 4. N’Djamena, Chad
- 5. Singapore, Singapore
- 6. Hong Kong, Hong Kong
- 7. Geneva, Switzerland
- 8. Zurich, Switzerland
- 9. Bern, Switzerland
- 9. Sydney, Australia
The most expensive Canadian city was Vancouver, as they ranked 64th on the list. “Canadian cities generally moved down in the ranking this year as a result of a slight decrease of the Canadian dollar against the US dollar, and because the prices of goods and services increased at a lower pace than in New York.
“Recent world events, including economic and political upheavals, which resulted in currency fluctuations, cost inflation for goods and services, and volatility in accommodation prices have impacted these cities making them expensive,” said Barb Marder, Senior Partner and Mercer’s Global Mobility Practice Leader. “Organizations need to evaluate the impact of currency fluctuations, inflation, and political instability when sending employees on overseas assignments while ensuring they can facilitate the moves they need to drive the business results by offering fair and competitive compensation packages.”
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