Singapore has climbed one rung from fifth
place last year to become the fourth most expensive city in the world for
expatriates, according to a report by research firm Mercer.
Singapore
is also the second-priciest city in the Asia Pacific region, beaten only by
Hong Kong, Mercer found in its annual cost of living survey.
The
most expensive city for expatriates was Luanda in Angola, which is in southern
Africa, for the second year in a row.
That
was followed by N'Djamena in Chad, which is a landlocked country in central
Africa. Hong Kong came in third.
"While
Luanda and N'Djamena are relatively inexpensive cities, they are quite costly
for expatriates since imported goods come at a premium," said Ed Hannibal,
partner and global leader for Mercer's mobility practice, in a statement.
"In
addition, finding secure living accommodations that meet the standards of
expatriates can be challenging and quite costly as well. This is generally why
some African cities rank high in our survey."
Mercer
said that African, European and Asian cities were generally the most expensive
for expatriates due to currency fluctuations and the impact of inflation on
goods and services.
Cities
in Asia accounted for four out of the 10 most expensive worldwide. Apart from
Hong Kong and Singapore, Tokyo and Shanghai also made it to the list.
Tokyo
dropped four spots to rank seventh while Shanghai jumped four places to 10th.
Melissa
Tan
Business & Investment Opportunities
Saigon Business Corporation Pte Ltd (SBC) is incorporated
in Singapore since 1994.
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