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Luanda most expensive city in the world
afrol News / Savana, 23 June - Angolan capital of Luanda is the most-expensive city in the world for expatriates ahead of Paris and London for second consecutive time, a survey by ECA International has revealed.
|© Embassy of Angola UK|
According to the report, which compare cost living in 370 cities around the world, the presence of many African cities in top spots was due to the fact that many expatriates purchase imported products at high prices, thus inflating cost of living.
"The fact that Luanda lead the top of the list may surprise some," said Lee Quane, ECA International, adding that this is because "the study includes goods and services typically purchased by expatriates, which can be very expensive in places like this, but not exceeding the local market."
In addition to Luanda, the capital of Gabon, Libreville, Kinshasa in Democratic Republic of Congo, Abidjan in Ivory Coast and in Abuja, Nigeria, are listed among 25 countries with higher cost of living for expatriates.
The findings are used by multinational companies to calculate allowances paid to officials abroad.
The second most expensive city is Oslo, capital of Norway, followed by Stavenger, also in the same country.
Fourth, are Copenhagen in Denmark, and then Moscow in Russia. Zurich, Geneva, Basel, Bern and Switzerland, also form part of the list of most expensive cities for foreign workers, that appear in the top 10 cities with highest cost of living.
Despite current political turbulences in Zimbabwe, Harare remains one of least expensive cities in the world - probably not the safest - just a few points ahead of Asuncion, Paraguay.
By staff writers
© afrol News / Savana
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