Luanda (Angola), is the most expensive city in the world for expatriates for the second consecutive year, followed by Tokyo and N’Djamena (Chad), according to the Study on the cost of living 2011 by the consultancy Mercer, which ranks Madrid and Barcelona among the hundred most expensive cities. However, both Spanish cities have dropped several positions compared to the 2010 ranking. Thus, Madrid drops eight places and stands at 60, while Barcelona drops seven to 66.
In the last three positions (212, 213 and 214), are La Paz (Bolivia); Managua (Nicaragua) and Karachi (Pakistan). Another novelty in the list of the most expensive cities is that there is Singapore, now in the eighth position and that last year it was in the 11th and Sao Paulo (10), which has risen 11 positions since last year; Karachi (214).
The study, released today by Mercer, analyzes 214 cities on five continents and comparatively measures the cost of nearly 200 items in each city, including accommodation, transportation, food, clothing, furniture and entertainment.
Three European cities remain among the 10 most expensive
Moscow (4) is still the most expensive European city, followed by Geneva (5) and Zurich (7). Oslo (15) has dropped four places since last year, while Bern (16) has climbed six places and Copenhagen has fallen from 10th to 17th place. London (18th) is followed by Milan (25th) and Paris. (27). Both cities are down 10 places since last year. Saint Petersburg occupies position 29, followed by Rome (34) and Vienna (36).
From 76th place, Stockholm (39th) has experienced the biggest rise in the zone, mainly due to the strengthening of its currency against the dollar. At 24th, Tel Aviv is down five places since 2010 but is still the most expensive city in the Middle East.
In Africa, Libreville (12) is down five places since last year and Niamey remains at number 23, while Victoria (25), in the Seychelles, has fallen 12 places due to the weakening of its local currency against the dollar. In South Africa, Johannesburg (131) and Cape Town (158) have moved up 20 and 13 positions, respectively. The cheapest cities in this area are Tunis (207) and Addis Ababa (211).
In America, Sao Paulo (10) and Rio de Janeiro (12) have risen 11 and 17 places respectively and become the most expensive cities for expatriates in both North and South America. Brasilia (33) is the third most expensive city, rising 37 positions since last year and the high inflation of goods and services in Venezuela has caused Caracas to rise from position 100 in 2010 to 51 this year.
At 32nd, New York is the most expensive city in the United States.
Los Angeles (77) and Chicago (108) have fallen 22 and 17 positions, respectively, as the rise in the price of goods and services has been moderate in comparison, according to Mercer. Climbing 17 places, Toronto (59) has surpassed Vancouver (65) to become Canada’s most expensive city, followed by Montreal (79) and Calgary (96).
Australian cities have seen some of the biggest gains, as their local currency has appreciated nearly 14 percent against the US dollar. Sydney (14) has risen 14 places, Melbourne has moved from 33rd to 21st and Perth has climbed 30 places to 30th. Asia ‘s most expensive city is Tokyo (2), followed by Osaka (6). Singapore (8) has joined the list of the 10 most expensive cities in the world, followed by Hong Kong. Nagoya (11), in Japan, has risen eight places while Seoul (19) has dropped five. Other high ranking Asian cities include Beijing (20), Shanghai (21), Guangzhou (38), Census (43) and Taipei (52).
Most Asian cities have moved up the list as accommodation for expats is limited and demand is high. New Delhi (85) is the most expensive Indian city, followed by Mumbai (95) and Bangalore (180). Elsewhere in Asia, Jakarta ranks 69th, Hanoi 136th, Bangkok 88th and Kuala Lumpur 104th, according to Mercer.