2. Oslo, Norway
3. Luanda, Angola
4. Nagoya, Japan
5. Yokohama, Japan
6. Stavanger, Norway
7. Kobe, Japan
8. Copenhagen, Denmark
9. Geneva, Switzerland
10. Zurich, Switzerland
11. Bern, Switzerland
12. Basel, Switzerland
13. Libreville, Gabon
14. Helsinki , Finland
15. Moscow, Russia
16. Paris, France
Prices remain high in this romantic capital.
17. Abidjan, Cote D'Ivoire
18. Abuja, Nigeria
19. Tel Aviv, Israel
20. Seoul, South Korea
source: EA International
Criteria
Cost of living rankings are calculated upon annually surveys conducted in March and September using a basket of day-to-day goods and services. Certain living costs such as accommodation, utilities (electricity, gas, water costs), car purchase and school fees are not included in the survey.The comparison is created by composing a base of costs within developed countries. ECA's cost of living data compares a basket of 125 consumer goods and services commonly purchased by international assignees in over 370 locations worldwide.
- The survey covers:
- Food- Groceries; dairy produce; meat and fish; fresh fruit and vegetables
- Basic- Drink and tobacco; miscellaneous goods; services
- General- Clothing; electrical goods; motoring; meals out
Recent Changes
Currency fluctuation are the major reason behind changes in ranking. For example, growth in most western countries has slowed considerably while Asian cities were much more resilient. Asian economies cushioned their citizens against rising fuel and food costs through subsidies and price controls while Western nations suffered through economic free fall.Asia
Tokyo's yen has helped to make Tokyo the most expensive city. The Korean won has also done well and pushed Seoul into the top 20. The Thai baht and the Indonesian rupiah have also increased in value.On the other hand, locations in mainland China have become cheaper. Hong Kong has also fallen lower on the list as SARs is still detracting from the city's business sector. Karachi, Islamabad and Kolkata are the cheapest locations in the region
Europe
Some of the standard cities at the top of the list have been replaced by other European capitals. Oslo has replaced Copenhagen as the region's most costly location. Oil prices have benefited the region and Scandinavia's abstinence from the Euro has allowed it to avoid some of the issues currently troubling mainland Europe. Sweden and Finland have also gained favor from investors. Scandinavia is the most expensive area in Europe for expatriates.Moscow had fallen in the rankings in 2009, but the rouble has strengthened. An increase in oil prices has been the most important change.
The United Kingdom has also fallen in rank as the sterling continues to be weak throughout the last year. Locations within London like Chelsea may still be quite costly, but the city as a whole has dropped in comparative costs significantly.
Americas
South America has traditionally been on the lower end when considering expensive cities, but Rio de Janeiro is now the most expensive location in the Americas.In general, US locations have fallen down the rankings slightly, reflecting the weakened dollar. Manhattan is the most expensive location in North America but is only ranked 29th worldwide. Honolulu, Hawaii is the second most expensive.
Canadian dollars have actually strengthened, with Vancouver holding the most expensive position.
Australasia
Australia has become significantly more expensive in the past year. The economy has developed steadily and their currency has strengthened. Canberra is currently the most expensive location.Africa & the Middle East
Luanda was ranked as the most expensive city in 2008 and 2009, but has slipped to third in the 2010 survey.South African locations rate as some of the in among the cheapest.
Tel Aviv made it into the top 20 and is the most expensive place for visitors to the Middle East. Jeddah in Saudi Arabia is the cheapest
