LONDON – The Angolan capital Luanda has knocked Hong Kong off the top spot in an annual survey that ranks the cost of living for expatriate workers in world cities.
The survey found the cost of renting a two-bedroom apartment suitable for expatriates in Luanda was £4,800 ($6,055) per month, while a fast food hamburger meal priced at £11.50.
It was the second time in three years that Luanda topped the survey, which compares the costs of housing, transport and clothing in 209 cities.
While Luanda rose, all UK cities fell significantly in this year’s rankings which were released on Wednesday, with 30th-ranked London dropping 13 places from 2016.
The survey, conducted by global consulting firm Mercer, suggested that the country’s vote to leave the European Union had played a role in the drop by causing the value of sterling to fall.
For those in the market for a cheaper expatriate experience, the survey found the least expensive cities are Tunis, ranked 209th, followed by Kyrgyzstan capital Bishkek and Skopje in Macedonia.
1. LUANDA, Angola
2. HONG KONG
3. TOKYO, Japan
4. ZURICH, Switzerland
6. SEOUL, South Korea
7. GENEVA, Switzerland
8. SHANGHAI, China
9. NEW YORK, U.S.
10. BERN, Switzerland
($1 = 0.7927 pounds)
(Writing by Babatunde Ayoade and Mark Hanrahan in London. Editing by Gareth Jones)