Saturday, July 31, 2010

Germany, Munich - Cost of Living

The economy of Germany is the largest national economy in Europe, the fourth largest by nominal GDP in the world. The service sector contributes around 70% of the total GDP, industry 29.1%, and agriculture 0.9%. Most of the country's products are in engineering, especially in automobiles, machinery, metals, and chemical goods. Germany is the leading producer of wind turbines and solar power technology in the world.

Munich is the capital city of Bavaria and is the third largest city in Germany, after Berlin and Hamburg. Munich has the strongest economy of any German city, as well as the lowest unemployment rate of any German city with more than a million people. The city is also the economic centre of southern Germany.

Munich has an overall cost of living index which equates it with high cost of living locations. The overall cost of living index is comprised of the prices for defined quantities of the same goods and services across all 13 Basket Groups.

The latest cost of living rank for each of the 13 Basket Groups is now available.

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Germany, Hamburg - Cost of Living

The economy of Germany is the largest national economy in Europe, the fourth largest by nominal GDP in the world. The service sector contributes around 70% of the total GDP, industry 29.1%, and agriculture 0.9%. Most of the country's products are in engineering, especially in automobiles, machinery, metals, and chemical goods. Germany is the leading producer of wind turbines and solar power technology in the world.

Hamburg is the second-largest city in Germany (second to Berlin) and the eleventh-largest city in the European Union. The Port of Hamburg, ranks 2nd only to Rotterdam in Europe. Hamburg, along with Seattle and Toulouse, is an important location of the civil aerospace industry. Heavy industry includes the making of steel, aluminum, copper and a number of shipyards.

Hamburg has an overall cost of living index which equates it with high cost of living locations. The overall cost of living index is comprised of the prices for defined quantities of the same goods and services across all 13 Basket Groups.

The latest cost of living rank for each of the 13 Basket Groups is now available.

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Germany, Frankfurt - Cost of Living

The economy of Germany is the largest national economy in Europe, the fourth largest by nominal GDP in the world. The service sector contributes around 70% of the total GDP, industry 29.1%, and agriculture 0.9%. Most of the country's products are in engineering, especially in automobiles, machinery, metals, and chemical goods. Germany is the leading producer of wind turbines and solar power technology in the world.

Frankfurt is the largest city in the German state of Hesse and the fifth-largest city in Germany. Frankfurt is one of the leading financial centres in Europe.

Frankfurt has an overall cost of living index which equates it with high cost of living locations. The overall cost of living index is comprised of the prices for defined quantities of the same goods and services across all 13 Basket Groups.

The latest cost of living rank for each of the 13 Basket Groups is available.

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Germany, Cologne - Cost of Living

The economy of Germany is the largest national economy in Europe, the fourth largest by nominal GDP in the world. The service sector contributes around 70% of the total GDP, industry 29.1%, and agriculture 0.9%. Most of the country's products are in engineering, especially in automobiles, machinery, metals, and chemical goods. Germany is the leading producer of wind turbines and solar power technology in the world.

Cologne is Germany's fourth-largest city (after Berlin, Hamburg and Munich), and is the largest city both in the German Federal State of North Rhine-Westphalia and within the Rhine-Ruhr Metropolitan Area, one of the major European metropolitan areas with more than ten million inhabitants. Cologne is known as an important media center. Cologne is a major cultural center of the Rhineland and has a vibrant arts scene.

Cologne has an overall cost of living index which equates it with high cost of living locations. The overall cost of living index is comprised of the prices for defined quantities of the same goods and services across all 13 Basket Groups.

The latest cost of living rank for each of the 13 Basket Groups is now available.

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Americas Cost of Living - 2010

The Americas most expensive city, as at 1 July 2010, is Brasilia which is the world’s fourth most expensive city to live in. Caracas (ranked 11 in the world) is the second most expensive city in the Americas; however this may change as a result of the recent devaluation of the official exchange rate. Brasilia and Caracas are ranked first and second most expensive cities for education in the world. Nassau (ranked 35 in the world) is the third most expensive city, while New York (ranked 39 in the world) is the fourth most expensive city in the America’s and most expensive in the United States of America. The cheapest city to live in the Americas is Quito in Ecuador (ranked 276 in the world). The cheapest city surveyed in the United States of America is Indianapolis Ind (ranked 259 in the world).

Most expensive cities in the Americas (Global rank in brackets)
1. Brazil, Brasilia (4)
2. Venezuela, Caracas (11)
3. Bahamas, Nassau (35)
4. USA, New York NY (39)
5. Falkland Islands, Stanley (53)
6. Bermuda, Hamilton (54)
7. Canada, Toronto (62)
8. USA, San Francisco Calif (77)
9. Canada, Vancouver (78)
10. USA, Boston Mass (79)

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Friday, July 30, 2010

Germany, Bonn - Cost of Living

The economy of Germany is the largest national economy in Europe, the fourth largest by nominal GDP in the world. The service sector contributes around 70% of the total GDP, industry 29.1%, and agriculture 0.9%. Most of the country's products are in engineering, especially in automobiles, machinery, metals, and chemical goods. Germany is the leading producer of wind turbines and solar power technology in the world.

Bonn is the 19th largest city in Germany. Bonn remains a centre of politics and administration. Roughly half of all government jobs were retained as many government departments remained in Bonn when numerous sub-ministerial level government agencies relocated to the former capital from Berlin and other parts of Germany.

Bonn has an overall cost of living index which equates it with high cost of living locations. The overall cost of living index is comprised of the prices for defined quantities of the same goods and services across all 13 Basket Groups.

The latest cost of living rank for each of the 13 Basket Groups is now available.

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Germany, Berlin - Cost of Living

The economy of Germany is the largest national economy in Europe, the fourth largest by nominal GDP in the world. The service sector contributes around 70% of the total GDP, industry 29.1%, and agriculture 0.9%. Most of the country's products are in engineering, especially in automobiles, machinery, metals, and chemical goods. Germany is the leading producer of wind turbines and solar power technology in the world.

Berlin is the capital city and one of 16 states of Germany. Berlin is a major center of culture, politics, media, and science in Europe. Its economy is primarily based on the service sector, encompassing a diverse range of creative industries, media corporations, congress and convention venues. Berlin serves as a continental hub for air and rail transport, and is one of the most visited tourist destinations in the EU.

Berlin has an overall cost of living index which equates it with high cost of living locations. The overall cost of living index is comprised of the prices for defined quantities of the same goods and services across all 13 Basket Groups.

The latest cost of living rank for each of the 13 Basket Groups is now available.

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The Secret to Moving


The biggest secret I have found to moving is to stay calm, my stomach always used to churn every time my husband would say: “Let’s look at moving to London, Perth, Colorado….” I would have this rush in the pit of my stomach and wonder how we were going to cope with the challenge.


 


Now, I take it one step at a time. What do we do first, what do we need to know before we make the decision, how does the family feel about a new culture, different schools, a new home and most importantly new friends.


 


So, where do we start? Usually with the most important questions, why are we moving and do we really want to change from our comfort zone, once you have been able to answer these questions and you have more positives about leaving than staying (and the answer to this could be as simple as being offered a job in a new country), then you need to start researching the place you are moving to.


 


Questions start surfacing such as will we fit in and be happy in a new country, what is the education like, medical facilities, culture, politics, housing, work conditions, transport and entertainment? How many expats like ourselves will be living there, will our life be normal or will we have to adjust too extremely, and are we happy to do this?


 


This is where I start searching the internet, www.wikipedia.com is a great site to get an overall overview on any country in the world and it will cover all the basic factual information for you, including geographical location, population, historical background, religion, culture, education, economic situation and political info.


 


On getting a basic understanding of a country, I would then start looking at government sites and gathering information about the ease of moving to this country. What is required from a governmental legal perspective, including visa’s, whether a spouse can work on entry, how long a spouse needs to wait before starting to work, what legal rights do you have in the country, can you take your pets with and how does this work, what furniture can you take with (some countries do not allow wooden furniture into a country if it has not been treated) these government sites will cover any and all questions of this nature for you.


 


Finally and probably more importantly are the forums and blogs you can find, where expats can inform you of what to expect and you can ask any question and expect an honest answer. These sites can come across with mixed emotions from people who are enjoying the move and loving the country to those who hate every minute of their stay. The relevant question to ask here is why….why are they enjoying or hating it and then make your own decision?


 


The above would be the questions that I would want answered, as the spouse that stays at home and cares for the children, however bread winner wants a different question answered. They want to know what they should be earning in the new country and this is where xpatulator.com can be relevant to you. Xpatulator gives you the answers you are looking for dependant on the questions you answer in the Cost of Living Calculator. It will determine what your salary in the new country should be to maintain your standard of living, and at the end of the day as the spouse that stays at home you need to know these answers as well.


 


Why, you may ask? Because $200 000 may sound like a fabulous salary, however if your cost of living in the country you are moving too is extremely high, it may not cover your costs on a monthly basis. With the calculator, you can determine whether or not you will be able to afford to live in the new country. The calculator will work out the salary you should be earning if you have to cover all costs, or if your company will cover some of those costs for you. They also cover the Negative Cost of Living and Negative Hardship. What are these you ask with horror? Negative Cost of Living refers to a location that has a lower cost of living than the country you are living in and selecting to use this will result in a proportional decrease in the salary required e.g. if you had to move from London to Zimbabwe you will find the cost of living will be lower (negative difference). Negative Hardship refers to less hardship in the new location e.g. if you had to move from Zimbabwe to London you will find that your quality of living will be easier (negative difference).


 


So before you disregard the importance of what you need to earn when moving to a new country, take all aspects into account. At the end of the day what you will earn, will determine the school, home, medical facilities and entertainment you will be able to afford. So the secret to moving from one country to another, may be your emotional stability and happiness in the new location, however this is often determined by how much money is sitting in your bank account.


Georgia Republic of, Tbilisi - Cost of Living

The economy of Georgia has traditionally revolved around Black Sea tourism, cultivation of citrus fruits, tea and grapes; mining of manganese and copper; and output of a big industrial sector producing wine, metals, machinery, chemicals, and textiles.

Tbilisi is the capital and the largest city of Georgia. Tbilisi is a significant industrial, social, and cultural center. The city is also emerging as an important transit route for global energy and trade projects. Located strategically at the crossroads between Europe and Asia and lying along the historic Silk Road routes, Tbilisi has often been the point of contention between various rivaling powers and empires.

Tbilisi has an overall cost of living index which equates it with middle cost of living locations. The overall cost of living index is comprised of the prices for defined quantities of the same goods and services across all 13 Basket Groups.

The latest cost of living rank for each of the 13 Basket Groups is now available.

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Gambia, Banjul - Cost of Living

The economy of the Gambia is a liberal, market-based economy characterized by traditional subsistence agriculture, a historic reliance on groundnuts (peanuts) for export earnings, a re-export trade built up around its ocean port, low import duties, minimal administrative procedures, a fluctuating exchange rate with no exchange controls, and a significant tourism industry.

Banjul is the capital of The Gambia. Banjul is the country's economic and administrative centre and includes the Central Bank of The Gambia. Peanut processing is the country's principal industry, but beeswax, palm wood, palm oil, and skins and hides are also shipped from Banjul's port.

Banjul has an overall cost of living index which equates it with low cost of living locations. The overall cost of living index is comprised of the prices for defined quantities of the same goods and services across all 13 Basket Groups.

The latest cost of living rank for each of the 13 Basket Groups is now available.

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Thursday, July 29, 2010

Gabon, Libreville - Cost of Living

The economy of Gabon enjoys a per capita income four times that of most nations of sub-Saharan Africa. This has supported a sharp decline in extreme poverty; yet because of high income inequality a large proportion of the population remains poor.

Libreville is the capital and largest city of Gabon. The city is home to a shipbuilding industry, brewing industry and sawmills. The city exports raw materials such as wood, rubber and cocoa from the city's main port, and the deepwater port at Owendo.

Libreville has an overall cost of living index which equates it with high cost of living locations. The overall cost of living index is comprised of the prices for defined quantities of the same goods and services across all 13 Basket Groups.

The latest cost of living rank for each of the 13 Basket Groups is now available.

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France, Paris - Cost of Living

The economy of France is a mixed economy which is the fifth largest economy in the world, by measurement of GDP (nominal), behind the United States, Japan, China and Germany. It is the second largest economy in Europe.

Paris is the capital of France and the country's most populous city. The diverse economy of Paris is essentially a service economy, with business and financial services generating nearly half of the Paris Region's GDP.

Paris has an overall cost of living index which equates it with high cost of living locations. The overall cost of living index is comprised of the prices for defined quantities of the same goods and services across all 13 Basket Groups.

The latest cost of living rank for each of the 13 Basket Groups is now available.

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Finland, Helsinki - Cost of Living

The economy of Finland is a highly industrialized, free-market economy with a per capita output equal to that of other western economies such as France, Germany, Sweden or the United Kingdom. The largest sector of the economy is services at 65.7 percent, followed by manufacturing and refining at 31.4 percent.

Helsinki is the capital and largest city in Finland. The Helsinki metropolitan area generates approximately one third of Finland's GDP. GDP per capita is roughly 1.5 times the national average, making Helsinki one of the wealthiest capitals in Europe.

Helsinki has an overall cost of living index which equates it with high cost of living locations. The overall cost of living index is comprised of the prices for defined quantities of the same goods and services across all 13 Basket Groups.

The latest cost of living rank for each of the 13 Basket Groups is now available.

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Fiji, Suva - Cost of Living

The economy of Fiji is endowed with forest, mineral, and fish resources, and is one of the more developed of the Pacific island economies, though still with a large subsistence sector.

Suva is the capital and largest city of Fiji. Suva is the commercial and political centre as well as the main port city of Fiji.

Suva has an overall cost of living index which equates it with middle cost of living locations. The overall cost of living index is comprised of the prices for defined quantities of the same goods and services across all 13 Basket Groups.

The latest cost of living rank for each of the 13 Basket Groups is now available.

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Middle East Cost of Living - 2010

The Middle East has experienced a drop in inflation in most cities over the past two years following a few years of relatively high inflation. The strong link of most regional currencies to the United States Dollar has resulted in many regional currencies strengthening against other major currencies. The United States Dollar has strengthened against the Euro by around 21% in the past two years making imports from Europe into the region cheaper.

Doha (ranked 69 in the world), with one of the highest economic growth rates in the world, is the most expensive city in the Middle East, as at 1 July 2010, followed by Abu Dhabi (ranked 73 in the world). The largest change in cost of living has been in Dubai (ranked 131 in the world) with a cost of living index of 82.15 (New York = 100), currently the sixth most expensive city surveyed in the Middle East, having previously been ranked amongst the most expensive cities in the region. Household accommodation, which comprises 30% of the 13 basket groups based on expatriate expenditure norms, has fallen dramatically in Dubai in the past year, as a result of over-supply, given the impact of the financial crises. The cheapest city surveyed in the Middle East (and cheapest in the world) is Sanaa in Yemen (ranked 282 in the world) with a cost of living index of 51.76, almost half that of New York which has a cost of living index of 100.

Most expensive cities in the Middle East (Global rank in brackets)
1. Qatar, Doha (69)
2. United Arab Emirates, Abu Dhabi (73)
3. Israel, Jerusalem (76)
4. Bahrain, Manama (81)
5. Saudi Arabia, Riyadh (123)
6. United Arab Emirates, Dubai (131)
7. Lebanon, Beirut (138)
8. Kuwait, Kuwait City (171)
9. Iran, Tehran (172)
10. Syria, Damascus (186)

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Wednesday, July 28, 2010

Falkland Islands, Stanley - Cost of Living

The economy of the Falkland Islands, previously heavily over-dependent on sheep farming (and historically whaling), has become more diversified in the last decades and now also has income from tourism and commercial fishing as well as a service base for the fishing industry.

Stanley (also known as Port Stanley) is the capital and only true city in the Falkland Islands. Stanley is the main shopping centre on the islands and the hub of East Falkland's road network.

Stanley has an overall cost of living index which equates it with high cost of living locations. The overall cost of living index is comprised of the prices for defined quantities of the same goods and services across all 13 Basket Groups.

The latest cost of living rank for each of the 13 Basket Groups is now available.

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Ethiopia, Addis Ababa - Cost of Living

The economy of Ethiopia is based on agriculture, which accounts for half of gross domestic product (GDP), 60% of exports, and 80% of total employment. Ethiopia has virtually no private sector business at all. Despite recent improvements, with an exploding population Ethiopia remains one of the poorest nations in the world.

Addis Ababa is the capital city of Ethiopia. Addis Ababa has the status of both a city and a state. It is where the African Union and its predecessor the OAU are based. The economic activities in Addis Ababa are diverse.

Addis Ababa has an overall cost of living index which equates it with low cost of living locations. The overall cost of living index is comprised of the prices for defined quantities of the same goods and services across all 13 Basket Groups.

The latest cost of living rank for each of the 13 Basket Groups is now available.

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Expatriate Pay Philosophy


Organisations spend insufficient time creating a well designed expatriate remuneration strategy and policy. This is dangerous given that the highest employee turnover is at the beginning and end of international assignments, indicating a lack of integration of expatriate pay philosophy with the broader organisational pay philosophy.


 


The remuneration of expatriates often tends to be a rushed last minute decision due to urgent operational requirements. The resulting implications often only arise after the expatriate arrives in the host country, and when the assignment comes to an end. For example, the post assignment position back in the home country pays less than the expatriate earned on assignment.


 


Inconsistent treatment of expatriates quickly leads to unhappy expatriates. Once an organisation has more than 1 or 2 expatriates in the field it becomes vital to have a defendable expatriate pay philosophy in place. This philosophy should clearly convey the organisation's remuneration principles regarding expatriate assignments. An expatriate assignment pay philosophy is intended to provide guidance in the consistent and equitable treatment of all expatriates and forms the basis of the organisation's expatriate pay policy.


 


Most large global organisations have over time established a clear policy for remunerating expatriates. This is often a legacy policy, where past practice has become policy. However expatriate pay is a complex area of remuneration with complex issues such as volatile exchange rates, weak and strong currencies, constantly changing differences in cost of living between countries, different tax regimes, as well as the reality that there are attractive and not so attractive countries to work and live in. This is an area where a clear philosophy and an aligned practical policy are required to ensure attraction, fairness, equity, motivation and retention.


 


Firstly let's deal with what makes an employee an expatriate. In my view an expatriate is a person working in a foreign country, where they are not permanently resident, on an assignment of typically not more than 3-5 years but is a citizen from another country. There are as many different expatriate pay practices as there are organisations employing expatriates. However we can identify at least four broad approaches to expatriate pay that has emerged as the dominant philosophies underlying expatriate pay.


 


Salary Build-Up (SBU)


The Salary Build-Up approach uses the current market related home salary as the base for calculating the expatriate package. Home in this case is the country where the employee permanently resides or is a citizen. The purpose of the build-up approach is to maintain internal equity between countries and to equalise the impact of differences between country tax rates. This ensures that expatriates neither lose nor gain as a result of tax treatment in the host country.


 


The Salary Build-Up approach typically involves deducting hypothetical tax in the home country, and builds on top of the home salary with an international premium (to compensate for hardship experienced), cost living index and the exchange rate to calculate a total net (i.e. after tax) assignment package.


 


The net assignment package is then "grossed up" in the host country for local tax and other statutory and non-statutory deductions to ensure the net pay assignment package is paid to the expatriate.


 


Salary Purchasing Power Parity (SPPP)


The Salary Purchasing Power Parity approach uses the principle of putting all expatriates within the organisation on an equal footing regardless of nationality and geographical location. The purpose of the SPPP approach is to ensure parity in the level of the purchasing power of the salary of expatriates doing the same job at the same level in different parts of the world, taking hardship, cost of living, and exchange rate differences into account.


 


This approach is typically used by global organisations that have a large number of expatriates, who move from one international assignment to another and compete globally for skills. Organisations using the SPPP approach typically establish a single global pay scale which is often by default that of the global headquarters country. The expatriate's salary is calculated by adding calculated additional amounts for the hardship, cost of living, and exchange rate differential between the global headquarters (home) and the host country.


 


The assignment package is then taxed in the host country and other statutory and non-statutory deductions made to arrive at the net pay assignment package paid to the expatriate.


 


Cost of Living Allowance (COLA)


The Cost of Living Allowance approach uses the principle of retaining the expatriate's home salary and paying an additional separate allowance, primarily for cost of living, but also for hardship based on the differences between the home location and the host location. The purpose of the COLA is to ensure parity in the level of the purchasing power of expatriates doing the same job at the same level in different parts of the world, taking hardship, cost of living, and exchange rate differences into account by paying a cost of allowance to compensate for the differences. At the end of the assignment the COLA falls away.


 


This approach is typically used by global international organisations that have a large number of expatriates, who move from one international assignment to another and compete globally for skills. Organisations using the COLA approach typically have country level pay scales. The expatriate's COLA is calculated by adding calculated additional amounts for the hardship, cost of living, and exchange rate differential between the home country and the host country.


 


The assignment package is then taxed in the host country and other statutory and non-statutory deductions made to arrive at the net pay assignment package paid to the expatriate.


 


Local Market (LM)


The Local Market approach uses the principle of applying the local (i.e. host country) expatriate market pay rates. In many organisations the policy is to use the better of the Build-Up or the Local Market approaches, to ensure that the assignment package is equitable and competitive in the host market.


 


Due to the need for market data, the Local Market approach is typically only used where a strong local and / or expatriate market exists in the host country, and reliable salary surveys exist that accurately report the level of market salary for different positions. For example, take an organisation sending an expatriate from an economically poor, relatively low salary market country, to a city such as New York. It is likely that having used the home base salary as the basis of the calculation, that the resulting total assignment package will be significantly lower than the New York Salary Market. This would occur even after adding an international premium (to compensate for hardship experienced), and a cost living amount (to compensate for the higher cost of living in New York) as well as applying the exchange rate. The reason is that the market level of home base salary in an economically poor country is so much lower than the equivalent market salary in New York.


 


The Local Market approach is typically used in high economic growth and high cost of living countries where demand for skills is high and there are a large number of expatriates comprising many nationalities such as the United Arab Emirates, Hong Kong or Singapore.


 


In conclusion it is important to ask questions about your current expatriate pay philosophy. Does your current expatriate pay philosophy drive the desired behaviour? Is the current policy and practice aligned to organisational objectives? Does the current policy work for or against the organisation achieving its global objectives?


 


We recommend a regular review of organisational expatriate pay philosophy in light of what the organisation seeks to achieve and where it operates geographically, whilst ensuring integration with the other pay related strategies of the organisation.


Estonia, Tallinn - Cost of Living

The economy of Estonia's economy is rated as high income by the World Bank. The Estonian economy Estonian economic miracle has often been described as the Baltic Tiger.

Tallinn is the capital and largest city of Estonia. The most important economic sectors of Tallinn are the light, textile, and food industry, as well as the service and government sector. Tallinn also has a well developed information technology sector In addition to longtime functions as seaport and capital city.

Tallinn has an overall cost of living index which equates it with high cost of living locations. The overall cost of living index is comprised of the prices for defined quantities of the same goods and services across all 13 Basket Groups.

The latest cost of living rank for each of the 13 Basket Groups is now available.

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Eritrea, Asmara - Cost of Living

The economy of Eritrea is largely based on subsistence agriculture, with 80% of the population involved in farming and herding. Drought has often created difficulty in the farming areas.

Asmara is the capital city and largest settlement in Eritrea. Textiles and clothing, processed meat, beer, shoes, and ceramics are the major industrial products of Asmara.

Asmara has an overall cost of living index which equates it with low cost of living locations. The overall cost of living index is comprised of the prices for defined quantities of the same goods and services across all 13 Basket Groups.

The latest cost of living rank for each of the 13 Basket Groups is now available.

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Tuesday, July 27, 2010

Equatorial Guinea, Malabo - Cost of Living

The economy of Equatorial Guinea has benefited from the discovery of large oil reserves in 1996 and its subsequent exploitation. Forestry, farming, and fishing are also major components of GDP. Subsistence farming predominates. The deterioration of the rural economy under successive brutal regimes has diminished any potential for agriculture-led growth.

Malabo is the capital of Equatorial Guinea. Despite its status as the capital of Equatorial Guinea for several decades, Malabo's street network remains poorly developed. Malabo itself has few paved roads leading into it, and fewer than one hundred paved and developed streets.

Malabo has an overall cost of living index which equates it with middle cost of living locations. The overall cost of living index is comprised of the prices for defined quantities of the same goods and services across all 13 Basket Groups.

The latest cost of living rank for each of the 13 Basket Groups is now available.

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El Salvador, San Salvador - Cost of Living

The economy of El Salvador has been hampered by natural disasters such as earthquakes and hurricanes, but El Salvador currently has a steadily growing economy. The service sector is the largest component of GDP at 64%, followed by the industrial sector at 25%. Agriculture represents only 11% of GDP.

San Salvador is the capital and largest city of the nation of El Salvador.San Salvador is home to one-half of El Salvador's wealth. The city offers the widest boulevards in Central America and is served by a railroad that connects to other cities.

San Salvador has an overall cost of living index which equates it with low cost of living locations. The overall cost of living index is comprised of the prices for defined quantities of the same goods and services across all 13 Basket Groups.

The latest cost of living rank for each of the 13 Basket Groups is now available.

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Egypt, Cairo - Cost of Living

The economy of Egypt depends mainly on agriculture, media, petroleum exports, and tourism; there are also more than three million Egyptians working abroad, mainly in Saudi Arabia, the Persian Gulf and Europe.

Cairo is a megacity and a global city serving as the capital of Egypt. Cairo is the center of Egypt, as it has been almost since its founding in 969 AD. 15% of all Egyptians live there. The majority of the nation's commerce is generated there, or passes through the city.

Cairo has an overall cost of living index which equates it with middle cost of living locations. The overall cost of living index is comprised of the prices for defined quantities of the same goods and services across all 13 Basket Groups.

The latest cost of living rank for each of the 13 Basket Groups is now available.

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Ecuador, Quito - Cost of Living

The economy of Ecuador is dominated by natural resources which include petroleum, fish, shrimp, timber and gold. In addition, it has rich agriculture: bananas, flowers, coffee, cacao, sugar, tropical fruits, palm oil, palm hearts, rice, roses, and corn. The country´s greatest national export is crude oil.

Quito, is the capital city of Ecuador. Quito is the second-highest administrative capital city in the world (after La Paz, Bolivia), and the highest legal capital (ahead of Sucre, also in Bolivia, and Bogota, Colombia).

Quito has an overall cost of living index which equates it with low cost of living locations. The overall cost of living index is comprised of the prices for defined quantities of the same goods and services across all 13 Basket Groups.

The latest cost of living rank for each of the 13 Basket Groups is now available.

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Africa Cost of Living - 2010

Africa’s most expensive city for expatriates, as at 1 July 2010, is Luanda in Angola (ranked 15 in the world) with a cost of living index of 106.17 (New York = 100). Luanda is particularly expensive for education, (ranked 3 in the world), accommodation (ranked 5 in the world), and healthcare (ranked 6 in the world). Luanda is rebuilding its infrastructure after years of war, which has contributed to making goods and services purchased by expatriates expensive, as a result of lack of availability, and the cost of bringing appropriate goods and services into the country. Libreville in Gabon (ranked 20 in the world) is Africa’s second most expensive city, followed by Bangui in the Central African Republic (ranked 25 in the world) and Moroni in the Comores (ranked 27 in the world). The cheapest city surveyed in Africa is Triploi in Libya (ranked 273 in the world).

Most expensive cities in Africa (Global rank in brackets)
1. Angola, Luanda (15)
2. Gabon, Libreville (20)
3. Central African Republic, Bangui (25)
4. Comores, Moroni (27)
5. Chad, N'Djamena (30)
6. Cameroon, Douala (52)
7. Mali, Bamako (56)
8. Congo, Brazzaville (60)
9. Cameroon, Yaounde (63)
10. Nigeria, Lagos (66)

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Monday, July 26, 2010

Dominican Republic, Santo Domingo - Cost of Living

The economy of the Dominican Republic is the largest in Central America and the Caribbean. It is a upper middle-income developing country.

Santo Domingo, is the capital and largest city in the Dominican Republic. Santo Domingo is the center of economic activity in the Dominican Republic. Many national and international firms have their headquarters or regional offices in the city. The city attracts many international firms and franchises due to its geographic location, stability and vibrant economy.

Santo Domingo has an overall cost of living index which equates it with low cost of living locations. The overall cost of living index is comprised of the prices for defined quantities of the same goods and services across all 13 Basket Groups.

The latest cost of living rank for each of the 13 Basket Groups is now available.

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Dominica, Roseau - Cost of Living

The economy of Dominica is dominated by bananas and other agriculture, and nearly one-third of the labour force works in agriculture. This sector, however, is highly vulnerable to weather conditions and to external events affecting commodity prices.

Roseau is the capital and largest city of Dominica. The urban structure of Central Roseau is based on an irregular grid system of miniature proportions. Exports include bananas, bay oil, vegetables, grapefruit, oranges and cocoa, services.

Roseau has an overall cost of living index which equates it with low cost of living locations. The overall cost of living index is comprised of the prices for defined quantities of the same goods and services across all 13 Basket Groups.

The latest cost of living rank for each of the 13 Basket Groups is now available.

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The Positives and Negatives of Moving Internationally


This is a basic summary on the Positives and Negatives on moving from one place to another in our global world from someone who has been there and done it a couple of times.  How to make the negatives positive and how to make the decision whether you are ready to leave your comfort zone or not, to have an adventure and enjoy it as such or not.  To remember you are never alone on this journey of discovery.


 


1. You are able to live in a country with a different culture and if you embrace the culture and enjoy every aspect of it, you will enjoy your stay;
2. It is very interesting to see how different countries work, from government departments through to shops and even the traffic rules;
3. You get to explore a completely new environment and travel without it costing you a fortune;
4. You make new friends from all over the world, as an expat you will become part of an expat community and this community will tell you where to go, travel and visit;
5. Then there is the local community and if you are working with locals, they will do the same thing, tell you where to go to experience the local community;
6. Usually you get to earn a better salary than in your country of origin, so save save save;
7. It is also not unusual, when accepting a job through an overseas company that many of the normal day to day expenses are paid for, such as accommodation, transport, medical and schooling; and many others that are taken care of;
8. If you have children they will have the opportunity of getting an international schooling and become global citizens of the world;
9. Many people are never given the opportunity to move around the world, this is such a wonderful opportunity to teach your children how to cope in different situations, travel and cope in airports, embrace other cultures and generally survive a different lifestyle;
10. You learn to take baby steps, accept how things work or don’t, not to sweat the small stuff and become accepting of situations, people and places iow to chill.  All of the above can teach you a lot about yourself.


 


So what about the negatives….it is so normal for us humans to always potentially look at the negative side before we look at the positives and we tend to always find so many more negatives.  So here is my list…but with positives to go with them:


1. Packing your entire life to move or store, probably the worst part of moving, you need to decide what to keep or sell or give away or throw away; positively it’s a great opportunity to get rid of junk!
2. Unpacking, ditto to the above….
3. Leaving your family and friends behind which under any situation is difficult; positively the world is such a small place now that between email, blogs and skype they are always only a pc away. Plus with air travel it is easy to get home very very quickly;
4. The language differences can result in misunderstandings and things not getting done in the way you would have done them in your own country, positively this teaches us patience and English is a fairly universal language;
5. You will have to go through all the processes of getting Visa’s, Residence Permits, sometimes even going through medicals, driving tests, finger printing, etc (depending on the country you are going to) which can be incredibly frustrating, but this is the way that the country you are moving to can keep tabs on who is coming and going from their country.  Positively, it should make you feel safer knowing that they are checking on who is entering, that these people are responsible citizens of the world and have no criminal records, etc.
6. It will be hard for the family to settle, everything is different and unusual if you have gone to a culture very different from your own, even if it is similar it is still different; talk to the family, let everyone express how they are feeling, be understanding of each others’ moods and positively it gets the family talking;
7. New routines, a new school, a new office, new friends; and all of these take time; but all the above have the word new in so that is positive….
8. Moving countries is one of the top 3 most stressful situations a person can be in, but how you handle it will result in how well your health copes with the move; remember to always think about (perhaps even list) the reasons you made the decision to move (make sure it is a decision that has been made by the family) and hang on to all those positives, you are going to hit rough patches and you are going to need all your positive lists to get through certain stages and times of the move.


 


So not too bad, I love being a citizen of the world, I love knowing that I have gone through this  process, that I can do it, that I can be positive, that I can meet some fantastic people that are different to me, that life is bigger than just my small little world….


 


If you are thinking about moving, think of the positives and negatives that it will create in your life and if you can cope especially with the negatives, go for it!  Have an adventure!


Djibouti, Djibouti - Cost of Living

The economy of Djibouti is based on service activities connected with the country's strategic location and status as a free trade zone in northeast Africa. Two-thirds of the inhabitants live in the capital city, the remainder being mostly nomadic herders. Scant rainfall limits crop production to fruits and vegetables, and most food must be imported.

The City of Djibouti is the capital and largest city of the Republic of Djibouti. The Djibouti-Addis Ababa Railway runs from the city to Addis Ababa, while it is also home to the Djibouti-Ambouli International Airport. Northwest of the city centre lies the city's port, used for international trade, for fishing, and by ferries to Obock and Tadjoura.

Djibouti has an overall cost of living index which equates it with middle cost of living locations. The overall cost of living index is comprised of the prices for defined quantities of the same goods and services across all 13 Basket Groups.

The latest cost of living rank for each of the 13 Basket Groups is now available.

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Denmark, Copenhagen - Cost of Living

The economy of Denmark is a mixed economy with very few natural resources that relies almost entirely on human resources. The service sector makes up the vast amount of the employment and economy. Its industrialized market economy depends on imported raw materials and foreign trade.

Copenhagen is the capital and largest city of Denmark. Copenhagen is the economical and financial centre of Denmark and also a strong business and economic centre in the Scandinavian-Baltic region.

Copenhagen has an overall cost of living index which equates it with high cost of living locations. The overall cost of living index is comprised of the prices for defined quantities of the same goods and services across all 13 Basket Groups.

The latest cost of living rank for each of the 13 Basket Groups is now available.

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International Cost of Living Index Rank 2010

Tokyo is the costliest city in the world in which to live.

Tokyo is the most expensive city in the world in which to live out of 282 global locations surveyed as at 1 July 2010. While Tokyo is relatively cheap for items such as alcohol & tobacco (ranked 173), it is the most expensive for groceries and healthcare, and second only to Hong Kong for household accommodation costs. Whilst Tokyo has always been relatively expensive, this trend has been strengthened again recently, as a result of the Japanese Yen which has gained in value by about 18% against the United States Dollar in the past two years.

As the most expensive city in the world, Tokyo has an overall cost of living index of 153.2 (New York = 100), while Dubai (ranked 131 in the world) has a cost of living index of 82.15. Therefore Tokyo's cost of living is 86% higher than Dubai. That means that an expatriate earning USD$5,000 per month in Dubai would need to earn USD$9,300 per month in Tokyo to enable them to have the same purchasing power, and therefore a similar standard of living as they had in Dubai. The cost of living for an expatriate is affected by both the availability and prices, of goods and services representative of an expatriate lifestyle, local inflation, and the exchange rate between the home and host country. As a result the cost of living has a significant impact of an expatriate's salary package.

Hong Kong is the second most expensive city in the world for expatriates to live in. The high overall cost of living rank for Hong Kong is primarily a result of two expensive basket groups. Hong Kong is the second most expensive city in the world for healthcare, and is the most expensive city in the world for household accommodation which typically comprises 30% of an expatriate's expenses. Hong Kong is a good example of why many international organizations compensate separately for healthcare as well as household related costs such as housing rental, water, electricity, household gas, household fuels, local rates and residential taxes. Items that are provided by the employer should be excluded from a cost of living index calculation. The cost of living index for Hong Kong excluding healthcare and household related costs is substantially lower than it's overall cost of living index of 127.87 (New York = 100).

Hong Kong is relatively cheap for recreation & culture (ranked 236 in the world), education (ranked 244 in the world), as well as furniture & appliances (ranked 263 in the world).

Geneva is the third most expensive city in the world, with a cost of living index of 124.49 (New York = 100), mainly as a result of being relatively expensive in most of the basket groups with the exceptions being alcohol & tobacco (ranked 194 in the world), education (ranked 167 in the world), and communication (ranked 108 in the world), but also due to the 16% strengthening of the Swiss Franc against the Euro over the past 2 years.

Brasilia is the fourth most expensive city in the world. The Brazilian Real has strengthened by 11% against the United States Dollar in the past year, although it is still weaker than it was two years ago. Brasilia is ranked in the top 60 most expensive cities in the world for each of the 13 basket groups.

Oslo is the fifth most expensive city in the world with a cost of living index of 122.05 (New York = 100). The Norwegian Kroner has strengthened by 16% against the Euro in the past year. Oslo is the most expensive city in the world for transport, and the second most expensive city for alcohol & tobacco. Oslo is also expensive for groceries as well as restaurants, meals out and hotels (ranked 5 in the world).

The top 20 most expensive of 282 international locations using all 13 basket groups is as follows:

July 2010 Rank Country, City

1 Japan, Tokyo
2 China, Hong Kong
3 Switzerland, Geneva
4 Brazil, Brasilia
5 Norway, Oslo
6 Switzerland, Zurich
7 Denmark, Copenhagen
8 Liechtenstein, Vaduz
9 Russia, Moscow
10 France, Paris
11 Venezuela, Caracas
12 Monaco, Monaco
13 Australia, Sydney
14 United Kingdom, London
15 Angola, Luanda
16 Austria, Vienna
17 Australia, Canberra
18 Germany, Munich
19 Italy, Milan
20 Gabon, Libreville

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Sunday, July 25, 2010

Czech Republic, Prague - Cost of Living

The economy of the Czech Republic is developed and industrialized. It is one of the most stable and prosperous of the post-Communist states of Central and Eastern Europe.

Prague is the capital and largest city of the Czech Republic. Prague's economy is based on various industrial sectors. Prague's industrial sector is split into aircraft engines, diesel engines, refined oil products, electronics, chemicals, food, printing, automobiles etc. Also a significant proportion of research and development is based in Prague. Approximately one-fifth of all investment in the Czech Republic takes place in Prague city.

Prague has an overall cost of living index which equates it with high cost of living locations. The overall cost of living index is comprised of the prices for defined quantities of the same goods and services across all 13 Basket Groups.

The latest cost of living rank for each of the 13 Basket Groups is now available.

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Cyprus, Nicosia - Cost of Living

The economy of Cyprus is dominated by the division of the country into the southern area controlled by the Cyprus Government and the northern Turkish Cypriot-administered area. The Greek Cypriot economy is a prosperous one. Cyprus has an open, free-market, service-based economy with some light manufacturing. The Cypriots are among the most prosperous people in the Mediterranean region. Internationally, Cyprus promotes its geographical location as a bridge between West and East, along with its educated English-speaking population, moderate local costs, good airline connections, and telecommunications.

Nicosia, known locally as Lefkosia is the capital and largest city of Cyprus. Nicosia is important commercially with many shops, two modern shopping malls, restaurants and entertainment. The city is a trade centre and manufactures textiles, leather, pottery, plastic, and other products. Copper mines are nearby. Nicosia is the seat of the University of Cyprus (UCY) and four other universities.

Nicosia has an overall cost of living index which equates it with middle cost of living locations. The overall cost of living index is comprised of the prices for defined quantities of the same goods and services across all 13 Basket Groups.

The latest cost of living rank for each of the 13 Basket Groups is now available.

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Cuba, Havana - Cost of Living

The economy of Cuba is a largely state-controlled, centrally planned economy overseen by the Cuban government, though there remains significant foreign investment and enterprise in Cuba. Most of the means of production are owned and run by the government and most of the labor force is employed by the state.

Havana is the capital city, major port, and leading commercial centre of Cuba. Havana's economy first developed on the basis of its location, which made it one of the early great trade centres in the New World. Sugar and a flourishing slave trade first brought riches to the city, and later, after independence, it became a renowned resort. Despite efforts by Fidel Castro's government to spread Cuba's industrial activity to all parts of the island, Havana remains the centre of much of the nation's industry.

Havana has an overall cost of living index which equates it with low cost of living locations. The overall cost of living index is comprised of the prices for defined quantities of the same goods and services across all 13 Basket Groups.

The latest cost of living rank for each of the 13 Basket Groups is now available.

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Transport International Cost of Living Ranking

This report provides you with the rank of Transport cost of living indexes for 282 global locations. The indexes are calculated using the prices for specific quantities of the same goods and services in each location, based on expatriate spending patterns across 13 broad categories (Basket Groups).

Transport costs include public transport, vehicle costs, vehicle fuel, vehicle insurance and vehicle maintenance such as hire purchase / lease of vehicle, petrol / diesel, public transport service maintenance, tires, vehicle Insurance, and vehicle purchase.

The latest transport international cost of living rank is now available.

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Croatia, Zagreb - Cost of Living

The Economy of Croatia is a service-based economy, with the service sector accounting for two thrids of the total GDP.

Zagreb is the capital and the largest city of the Republic of Croatia. Zagreb's transport connections, concentration of industry, scientific and research institutions and industrial tradition underlie its leading economic position in Croatia.

Zagreb has an overall cost of living index which equates it with high cost of living locations. The overall cost of living index is comprised of the prices for defined quantities of the same goods and services across all 13 Basket Groups.

The latest cost of living rank for each of the 13 Basket Groups is now available.

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Europe Cost of Living - 2010

Europe’s most expensive cities, as at 1 July 2010, are those that are not on the Euro. The most expensive city in Europe is Geneva (ranked 3 in the world). The Swiss Franc has strengthened by 8% in the past year and by 16% over the past 2 years. Geneva is followed by Oslo (ranked 5 in the world), and Zurich (ranked 6 in the world). Copenhagen (ranked 7 in the world) is the fourth most expensive city in Europe and is particularly expensive for groceries (ranked 2 in the world). Moscow (ranked 9 in the world) which had fallen in the cost of living rankings has shot back up 6th most expensive city in Europe. The Russian Rouble has strengthened 14% against the Euro in the past year. The cheapest city in Europe is Sarajevo in Bosnia and Herzegovina (ranked 253 in the world) with a cost of living index of 64.72 (New York = 100).

Most expensive cities in Europe (Global rank in brackets)
1. Switzerland, Geneva (3)
2. Norway, Oslo (5)
3. Switzerland, Zurich (6)
4. Denmark, Copenhagen (7)
5. Liechtenstein, Vaduz (8)
6. Russia, Moscow (9)
7. France, Paris (10)
8. Monaco, Monaco (12)
9. United Kingdom, London (14)
10. Austria, Vienna (16)

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Saturday, July 24, 2010

Cote DIvoire, Abidjan - Cost of Living

The Ivorian economy is largely market based and depends heavily on the agricultural sector. Almost 70% of the Ivorian people are engaged in some form of agricultural activity.

Abidjan is the economic and former official capital of Cote D'Ivoire as well as the largest city. Abidjan is characterized by high industrialization and urbanization. Major industries include food processing, lumber, automobile manufacturing, and the manufacture of textiles, chemicals, and soap.

Abidjan has an overall cost of living index which equates it with high cost of living locations. The overall cost of living index is comprised of the prices for defined quantities of the same goods and services across all 13 Basket Groups.

The latest cost of living rank for each of the 13 Basket Groups is now available.

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Costa Rica, San Jose - Cost of Living

The economy of Costa Rica heavily depends on tourism, agriculture, and electronics exports. Poverty has been reduced over the past 15 years, and a social safety net put into place.

San Jose is the capital and largest city of Costa Rica. San Jose is the seat of national government, the focal point of political and economic activity, and the major transportation hub of Costa Rica.

San Jose has an overall cost of living index which equates it with low cost of living locations. The overall cost of living index is comprised of the prices for defined quantities of the same goods and services across all 13 Basket Groups.

The latest cost of living rank for each of the 13 Basket Groups is now available.

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Moving to a new Country, How to cope


Having experienced a couple of country moves I can give you a few tips.


Everything I wrote before on researching the country on websites, joining blogs and finding out whether your salary is going to cover your cost of living, are all relevant.


What I want to do is take you through the process of moving. If you are being hired by a company who are going to help you move, life is going to be a lot easier. If however, you are going to be doing this on your own you need to prepare yourself for a little work.


 


Firstly, find out what you need from a documentation point of view to get into the new country.


1. Do you need a visa, which type of visa will you need (working, spousal, minor children, etc) for each member of the family and start preparing the documentation for them.


2. Documents could include Unabridged birth certificates, ID documents, Passports, Passport Photos, Marriage Certificate, each country has its own requirements. Some countries require a police / criminal clearance. Find out either from the government website or the embassy in your country as to what you need, or alternatively find an agency that can do it all for you. An agency will let you know what you need to get and can assist you in obtaining the relevant documents.


 


Secondly, what will you need to do when you get to the new country.


1. You will need to find a place to stay in the interim, open a bank account, organise a post box, transport, etc, so you need to find out what you need to have to do these. Do you need to keep certified copies of your passport or bank statements, etc?


2. Will you need to go through medicals for any reason, do you need to take any medical records with you?


3. How do you set up your medical aid, life insurance, buy or rent a property, get a phone installed??? Once again if you are moving with a company all of this will be a lot easier, as you will always have someone to facilitate you with the processes, but moving to a foreign country where everything is different could take its toll. Sometimes the best advice is just to ask.


 


Thirdly, prepare yourself for the move.


1. Start planning, make a list of everything you need to do.


2. Our list consisted of the following:


a. Plan the day you are going to fly out and book the tickets, this date will determine all the below dates. First ensure that you have all documentation required before booking your tickets.


b. List all accounts that need to be paid or cancelled and the dates that this needs to be completed by e.g. Medical Aid, Security company, Car insurance, Telephone account, Internet account, Post box, Clothing accounts, etc.


c. Decide what to do with your bank account, and all the cards attached to it. Do you want to keep your account open and keep all the cards, or just keep 1 card? Remember the bank charges that you will need to pay monthly and that you will have 2 sets of bank accounts if you do keep it open. However, it could be worthwhile so that you have money available and cards that you can use.


d. What are you going to do with your car/s, house, other assets, furniture, even down to your clothes - if you are going to sell them start planning what to sell, how much for and how you need to go about doing this, with deadline dates. Alternatively you can store your belongings.


e. If you require to give someone power of attorney to sell anything or do any other legal work for you, decide on who you would want to do this for you and how to go about doing it. Your bank can normally assist you in this process.


f. Decide what you want to do with your Life policies, Retirement annuities, or any other policy or investment you have made, your broker can help you with these decisions.


g. When are you going to tell everyone about this decision you have made, do you have to resign from a job before you go and when do you need to let them know, plan your decision carefully as you don't want to leave with any problems.


h. Do you employ anyone, start planning how to tell them you are leaving, what they need to be paid, is there a retrenchment package attached, write referral letters, do you need to write letters to any government departments to inform them of the change in status of your employee and leave with everyone happy.


i. If you are taking any personal belongings with you start getting quotes from removal companies and make a decision on who to go with. Get at least 5 quotes to be objective and ensure you are comfortable with the service, and get referrals.


j. Are you taking animals with you? If so do the same as above. Find out whether there are any special requirements you need to take into account when taking your animals with you. Do you need to keep them in quarantine and if so for how long, what documentation do you need to get for them and vaccinations?


k. Organise someone to take you to the airport.


l. Check on how you are all feeling, how are the kids doing and how do they feel about the move. Talk about it and let the kids know what is happening.


m. Have a farewell party for all of you, the kids and their friends and you and your friends. There needs to be some form of closure, and it will make you feel just how special all the people in your life are and how special you are to them.


n. Remember to keep contact details close at hand of everyone that is important to you.


o. See if you can find a personal relocator in the country you are moving too, they can be of great help too.


 


I hope this helps in the process required to relocate. It can be daunting and unsettling, or an adventure, you need to decide how to perceive the move. In my next article, I will write about settling in and the processes you need to go through to do this.


Congo Democratic Rep, Kinshasa - Cost of Living

The economy of the Democratic Republic of the Congo has vast potential due to it's natural resources and mineral wealth, yet the economy of the DRC has declined drastically since the mid-1980s.

Kinshasa is the capital and largest city of the Democratic Republic of the Congo. Kinshasa ties with Johannesburg for the status of the second largest city in sub-Saharan Africa and the third largest in the whole continent after Lagos and Cairo. Because the administrative boundaries cover such a vast area, over 60% of the city's land is rural in nature, and the urban area only occupies a small section in the far western end of the province.

Kinshasa has an overall cost of living index which equates it with middle cost of living locations. The overall cost of living index is comprised of the prices for defined quantities of the same goods and services across all 13 Basket Groups.

The latest cost of living rank for each of the 13 Basket Groups is now available.

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