Luanda is no longer the world’s most expensive city for expatriates. According to Mercer’s 24th annual Cost of Living Survey, Hong Kong has passed Luanda to take the top spot, before Tokyo, Zurich, Singapore and Seoul.
Two African cities appear in the current top ten of the world’s most expensive locations. Luanda, capital of Angola, ranks 6th. N’Djamena, capital of Chad, is in 8th place. Tunis (capital of Tunisia) is one of the most inexpensive places to live and work. The city is ranked 208th.
International companies that do business abroad, base their decisions for settling in countries and cities on many factors. According to Mercer’s survey, factors impacting the cost of doing business are instability of housing markets, low inflation, and fluctuating prices for goods and services.
Despite dropping off the top spot on the global list, Luanda, Angola (6) remains the highest-ranking city in Africa. N’Djamena (8) follows, rising seven places. Moving up fourteen spots, Libreville (18) is the next African city on the list, followed by Brazzaville, Congo (19), which is up eleven places.