Investment Consultancy Group, Mercer, has released its 22nd annual cost of living survey. The survey found that factors including currency fluctuations, cost inflation for goods and services, and instability of accommodation prices, contribute to the cost of expatriate packages for employees on international assignments.
“Despite technology advances and the rise of a globally connected workforce, deploying expatriate employees’ remains an increasingly important aspect of a competitive multinational company’s business strategy,” said Ilya Bonic, Senior Partner and President of Mercer’s Talent business.
According to the 2016 Cost of Living Survey by Mercer, Hong Kong topped the list of the most expensive cities to live in the world for expatriates, while Luanda, Angola was No.2 on the list.
Here are the most expensive cities to live for expatriates:
1. Hong Kong
2. Luanda (Angola)
3. Zurich (Switzerland)
5. Tokyo (Japan)
6. Kinshasa (Congo)
7. Shanghai (China)
9. N’Djamena (Chad)
Wonder Where Lagos, Nigeria’s economic capital ranked?
However, the World’s least expensive cities for expatriates, according to Mercer’s survey are Windhoek (209), Cape Town (208), and Bishkek (207).
Read The Full Report Here