[h=1]MERCER SURVEY: SINGAPORE IS 4TH MOST EXPENSIVE CITY IN THE WORLD[/h]
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14 Jul 2014 - 6:47pm
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According to a survey by Mercer, Singapore has now gained one spot to become the 4th most expensive city in the world for expatriates.
The top cities were Luanda in Angola and N’Djamena in Chad, both in Africa, and Hong Kong.
Mercer explained that the rankings were affected by recent world events including political upheavals and the subsequent currency fluctuations as well as changes in accommodation prices.
The reason for the two African cities being at the top was mainly attributed to accommodation costs.
Despite cost of living being low for locals, imported goods, which often makes up a large portion of the shopping basket for expats are taxed heavily and finding secure and safe accommodation comparable to what an expat might expect can be extremely expensive.
For the Asian cities which made it into the top 10, one of the main contributing factors was the rising exchange rate in these countries.
The survey itself covered 211 cities across 5 different continents. Over 200 items were included in the costing with goods and services such as housing, transport, food, clothing and entertainment being considered.
<!-- /.block --> <style>.node-article .field-name-ad-box-in-article {float: left;margin: 15px 15px 10px 0;}.node-article .field-tags{clear: both;}</style> Post date:
14 Jul 2014 - 6:47pm
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According to a survey by Mercer, Singapore has now gained one spot to become the 4th most expensive city in the world for expatriates.
The top cities were Luanda in Angola and N’Djamena in Chad, both in Africa, and Hong Kong.
Mercer explained that the rankings were affected by recent world events including political upheavals and the subsequent currency fluctuations as well as changes in accommodation prices.
The reason for the two African cities being at the top was mainly attributed to accommodation costs.
Despite cost of living being low for locals, imported goods, which often makes up a large portion of the shopping basket for expats are taxed heavily and finding secure and safe accommodation comparable to what an expat might expect can be extremely expensive.
For the Asian cities which made it into the top 10, one of the main contributing factors was the rising exchange rate in these countries.
The survey itself covered 211 cities across 5 different continents. Over 200 items were included in the costing with goods and services such as housing, transport, food, clothing and entertainment being considered.
