International Cost of Living 2013

Cost of Living Rankings for January 2013 - Highlights:



-Tokyo in Japan is the overall most expensive city to live in for expatriates, while Thimphu in Bhutan, is the cheapest.

-The Swiss cities of Zurich and Geneva remain second and third most expensive in the world respectively.

-Luanda is the most expensive place to live as an expatriate excluding housing, education, medical and transport basket groups.



2013 Trends:

The top 5 most expensive places to live remain unchanged at the start of 2013. The Mayan end of the world never materialized. The world hasn’t ended and the top of the world cost of living rankings is still Tokyo, followed by Zurich and Geneva. Hong Kong has moved up from 5th to 4th swapping places with Luanda who has dropped from 4th to 5th.



So what will 2013 hold in terms of relative global cost of living in 2013?

There are a number of risks. The eurozone crisis, the debt ceiling in the USA, and a down turn in China could all spark a global recession. In countries whose economies are reviving the pace of growth will likely be far from sufficient to overcome the continued jobs crisis. It may take many more years for Europe and the United States to make up for the job losses caused by the Great Recession that started in 2008.



In 2013 you have a better chance of living to 100 than ever before. Approximately 12 per cent of the world’s population of rich and poor countries are aged 60 and over. The number of people aged 100+ is increasing each year. This presents a looming challenge. Those who live long won’t prosper unless they can save and invest for the continued increasing cost of living. With global wages, and investment returns largely stagnant for the majority of the world, more and more elderly people will need support from taxpayers and relatives for decades to come.



Housing comprises 30% of the average persons cost of living basket. Globally house prices are rising and falling in equal numbers. Over the past year prices have jumped most in Hong Kong (now the 4th most expensive place in the world). They have dropped by more than 9% in Spain, the largest decrease.



We expect the relatively high cost of living in developed countries to remain high, however the rate of increase will remain slower than the cost of living in developing countries. The relative cost of living will most likely increase by the largest margins in places with high growth rates, such as Mongolia, Libya, and Macau. Of the large developing economies, China is expected to see the highest increase in relative global cost of living. The USA will also be likely to experience higher costs as the economy improves. The Eurozone is however likely to remain relatively high but the relative cost of living is likely to remain at current levels unless there is a dramatic shift in the Euro crisis. The September elections in Germany may impact on the Euro crisis should it result in a change in the current coalition.



Key Regional Highlights:





The Americas:



Most expensive countries for expatriates to live in are: Venezuela; Bermuda; Cayman Islands; Montserrat; and Aruba

The most expensive cities for expatriates to live in are: Caracas (Ninth most expensive in the world); New York (Manhattan); Hamilton; Sao Paulo; and George Town.

The cheapest city for expatriates to live in is: Managua in Nicaragua (764 most expensive in the world).





Africa:



Most expensive countries for expatriates to live in are: Angola; DRC; Mozambique; Saint Helena; and Ghana.

The most expensive cities for expatriates to live in are: Luanda (Fifth most expensive in the world); Abuja; Lagos; Kinshasa; and Kano.

The cheapest city for expatriates to live in is: Tunis in Tunisia (773 most expensive in the world)





Asia-Pacific:



Most expensive countries for expatriates to live in are: Japan; Australia; Micronesia; New Caledonia; and New Zealand.

The most expensive cities for expatriates to live in are: Tokyo (the most expensive in the world); Hong Kong; Yokohama; Osaka; and Nagoya

The cheapest city for expatriates to live in is: Phnom Penh in Cambodia (761 most expensive in the world)





Europe:



Most expensive countries for expatriates to live in are: Switzerland; Norway; Liechtenstein; Denmark; and Jersey.

The most expensive cities for expatriates to live in are: Zurich (Second most expensive in the world); Geneva; Monaco; London; and Oslo

The cheapest city for expatriates to live in is: Bucharest in Romania (765 most expensive in the world)





The Middle East:



Most expensive countries for expatriates to live in are: Qatar; United Arab Emirates; Israel; Lebanon and Bahrain.

The most expensive cities for expatriates to live in are: Doha (132 most expensive in the world); Abu Dhabi; Dubai; Jerusalem; and Beirut

The cheapest city for expatriates to live in is: Sanaa in Yemen (717 most expensive in the world)





South Asia:



Most expensive countries for expatriates to live in are: Maldives; Sri Lanka; India; Afghanistan; and Bangladesh.

The most expensive cities for expatriates to live in are: Male (347 most expensive in the world); Mumbai; Colombo; New Delhi; and Kanpur.

The cheapest city for expatriates to live in is: Thimphu in Bhutan (779 most expensive in the world).





Xpatulator.com’s Cost of Living rankings







The cost of living rankings are released every quarter and measure the comparative cost of living for expatriates in 780 locations, covering every country worldwide. The cost of living comparison uses local prices for defined quantities of the same goods and services at or near each location, which is converted to a single currency. The prices are grouped together into baskets and the cost of living index calculated for each of these.





All 780 Location Rankings Overall Cost Of Living - All Baskets:

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