Oil-rich Angolan capital tops cost of living list

Mon Jun 28, 2010 7:01pm EDT
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By Paul Casciato

LONDON (Reuters Life!) - Angola's capital Luanda topped this year's Mercer Worldwide Cost of Living Survey as the world's most expensive city for expatriates, with Tokyo in second spot and Ndjamena, Chad, in third.

Karachi in Pakistan was the least costly place for expats in a survey by the consulting firm that covers 214 cities across five continents and measures the comparative costs of more than 200 items in each location.

For the first time, three African cities -- Luanda, Ndjamena and Libreville in Gabon (7) -- were among the 10 most expensive cities.

Three Asian cities -- Tokyo, Osaka (6) and Hong Kong (tied at 8) -- were in the top 10, along with the European centers Moscow (4), Geneva (5), Zurich (tied at 8) and Copenhagen


"Our cities are selected based on requests from our multinational clients," Mercer senior researcher Nathalie Constantin-Metral said in a statement with the survey.

"We've seen demand increase for information on African cities from across the business spectrum -- mining, financial services, airlines, manufacturers, utilities and energy companies."

Seven Chinese cities appeared in the 2010 rankings, highlighting the commercial importance to multinationals of locations other than just Beijing, Shanghai and Hong Kong.   Continued...