Asia remains an attractive place for work opportunities in 2017, especially amidst Brexit uncertainty and what not, but several of its more established expat destinations are also proving the most expensive anywhere in the world, relative to New York.
The latest Cost of Living Survey from Mercer shows that Asia’s financial hubs Hong Kong, Tokyo and Singapore are among the top 5 priciest locations worldwide, with Shanghai and Seoul also appearing in the top 10. This won’t be a surprise to many; there has been plenty of media coverage lately over the astronomical cost of housing in Hong Kong and Singapore.
Top of Mercer’s survey of more than 400 cities, however, is a destination considerably less iconic than Asia’s shiny metropolises – Luanda:
- Hong Kong
- New York
The Angolan capital, still more likely to be the subject of a pub quiz question than rolling off the tongue of your average traveller, has seen increased demand for quality housing against a limited supply through expats pouring in over the past decade.
With Luanda also lording over the list in 2014 and 2015, like a perennial Champions League winner, it’s unlikely that other cities – microapartments and all – will knock it off its perch any time soon.
Another world city, London, has meanwhile seen a plunge in its cost of living to 30th place from 17th. Unsurprisingly Brexit is named as the cause of this, because of the pound weakening before and after the EU referendum. This comes after a similar report in March from the EIU showed a fall in London’s cost of living.