The most expensive cities for expats 2012

According to the most recent survey from EuroCost International, the top three most expensive cities for expats has hardly changed over the last year.

Tokyo retains the dubious honour of being the most expensive city in the world for expatriates. This year, Luanda (Angola) has knocked Moscow from second place. Although the top three is made up of the same cities, the rest of the rankings have undergone significant changes.

European cities

This year all Eurozone cities have disappeared from the top 30, likely due to fluctuations in exchange rates and the depreciation of the euro. For example last year, Paris, Amsterdam and Helsinki featured in the top 30 most expensive expat cities.

The depreciation of the Swiss franc, like the euro, has meant Swiss cities have dropped in the rankings as well. Geneva has fallen five places to 9th, Zurich has dropped 10 places to 17th, Lausanne 11 places to 21st and Bern has fallen 14 places to 29th.

The strengthening of the pound sterling has sent London up the rankings from 11th to 5th place, one behind Singapore. At the other end of the table, the cheapest European cities for expats are Pristina (Kosovo), Vilnius (Lithuania) and Bucharest (Romania).

The Americas

Brazil’s major cities have also seen changes, mostly due to a 10% devaluation of the real against the euro. Sao Paulo has thus dropped from 6th to 18th and Rio de Janeiro from 8th to 19th. That said, these two cities are the most expensive on the South American continent.

New York tops the rankings of US cities, with Vancouver, followed by Toronto for Canada. The cheapest cities of the American continent are Managua (Nicaragua) and La Paz (Bolivia).

Asia and the Middle East

Tokyo remains the most expensive city for expats without a doubt, however, other Asian cities are well represented. Singapore is 4th and Hong Kong 6th. Shanghai, Beijing and Guangzhou in China have all risen up the rankings in the past year.

India’s most expensive city, Mumbai, has dropped 12 spots in the ratings, largely due to a devaluating currency. The cheapest Asian cities for expats are Kathmandu (Nepal), Pune (India) and Dushanbe (Tajikistan).

The most expensive city in Middle East is still Beirut, well ahead of Tel Aviv and Abu Dhabi. The cheapest city in the region is Sanaa (Yemen).

Africa

The cost of living for expats in Africa varies wildly from country to country. The availability of goods and services can make the difference, the same is true of the efficiency of the supply route.

Angola is the most expensive city for expats, its capital Luanda is the 2nd most expensive country in the world. On the other end of the scale you have the cheapest African cities of Tunis, Niamey (Niger) and Banjul (the Gambia).

Worldwide

The top ten most expensive cities for expats worldwide are as follows: