Swiss city of Zurich is the world's most expensive location for expatriates, according to a survey
The Swiss city of Zurich is the world's most expensive location for expatriates, according to a survey from ECA International, an HR consulting firm. In fact, the top four spots in the list are occupied by Swiss cities. Zurich is followed by Geneva, Bern and Basel as most expensive cities for expats.
Swiss cities have moved to the top of the rankings because of the relative strength of the franc, ECA International said.
It carries out surveys to help companies calculate cost of living allowances so that their employees' spending power is not compromised while on international assignment.
In India, New Delhi (ranked 174 globally) is the most expensive location in India for expatriates, rising 21 places. The other Indian cites in the list include Mumbai (192), Chennai (211), Pune (214) and Bengaluru (216).
"The rupee's significant appreciation against the euro and other developing country currencies, has pushed up costs for many expatriates," said Steven Kilfedder, Manager, Cost of Living and Remuneration Services at ECA International.
In the Asia Pacific region, Shanghai (global position 7) was the most expensive city for expatriates. In fact, 14 Chinese cities surveyed now rank in the global top 50 most expensive locations for expatriates.
Other Asian cities in the top 10 include Beijing (global position 8), Hong Kong (9) and Seoul (10).
Manhattan is the most expensive location in North America for expatriates. The strengthening of the US dollar has seen locations across the United States climb the rankings in the survey. Manhattan has risen to 15th place globally, up from last year's 38th spot.
The euro's significant depreciation has seen all Eurozone locations drop down the rankings with French, Belgian and German cities. Paris has fallen from 47th place to 68th while Munich falls out of the global top 100 to 110th place, down 43 places from last year. Elsewhere, Brussels has also fallen 29 places this year to 86th place.
African city Luanda has fallen from last year's global top spot to 5th place this year, but it has remained the continent's most expensive location. The cost of goods typically purchased by international assignees in this location is likely to be high due to import and transportation costs, ECA International said. Another African city Kinshasa was ranked sixth costliest destination.
The survey compares prices of consumer goods and services commonly purchased by assignees in over 450 locations worldwide.
Here are the 10 most expensive cities for expats, according to ECA International:
(Source: ECA International)
Swiss cities have moved to the top of the rankings because of the relative strength of the franc, ECA International said.
It carries out surveys to help companies calculate cost of living allowances so that their employees' spending power is not compromised while on international assignment.
In India, New Delhi (ranked 174 globally) is the most expensive location in India for expatriates, rising 21 places. The other Indian cites in the list include Mumbai (192), Chennai (211), Pune (214) and Bengaluru (216).
"The rupee's significant appreciation against the euro and other developing country currencies, has pushed up costs for many expatriates," said Steven Kilfedder, Manager, Cost of Living and Remuneration Services at ECA International.
In the Asia Pacific region, Shanghai (global position 7) was the most expensive city for expatriates. In fact, 14 Chinese cities surveyed now rank in the global top 50 most expensive locations for expatriates.
Other Asian cities in the top 10 include Beijing (global position 8), Hong Kong (9) and Seoul (10).
Manhattan is the most expensive location in North America for expatriates. The strengthening of the US dollar has seen locations across the United States climb the rankings in the survey. Manhattan has risen to 15th place globally, up from last year's 38th spot.
The euro's significant depreciation has seen all Eurozone locations drop down the rankings with French, Belgian and German cities. Paris has fallen from 47th place to 68th while Munich falls out of the global top 100 to 110th place, down 43 places from last year. Elsewhere, Brussels has also fallen 29 places this year to 86th place.
African city Luanda has fallen from last year's global top spot to 5th place this year, but it has remained the continent's most expensive location. The cost of goods typically purchased by international assignees in this location is likely to be high due to import and transportation costs, ECA International said. Another African city Kinshasa was ranked sixth costliest destination.
The survey compares prices of consumer goods and services commonly purchased by assignees in over 450 locations worldwide.
Here are the 10 most expensive cities for expats, according to ECA International:
(Source: ECA International)
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