Tuesday, August 31, 2010

Swaziland, Mbabane - Cost of Living

The economy of Swaziland is fairly diversified, with agriculture, forestry and mining accounting for about 13% of GDP, manufacturing (textiles and sugar-related processing) representing 37% of GDP. The majority of the population ? about 75%?is employed in subsistence agriculture.

Mbabane is the capital and largest city of Swaziland. Mbabane, and Swaziland itself, depend on tourism and sugar exports.

Mbabane 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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Suriname, Paramaribo - Cost of Living

The economy of Suriname is dominated by the bauxite industry, which accounts for more than 15% of GDP and 70% of export earnings. Other main export products include rice, bananas and shrimp.

Paramaribo is the capital and largest city of Suriname. Paramaribo's major exports are gold, bauxite, sugar cane, rice, cacao, coffee, rum, and tropical woods. Cement and paint are manufactured in the city.

Paramaribo 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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Sudan, Khartoum - Cost of Living

The economy of Sudan has been buffeted by civil war, political instability, adverse weather, weak world commodity prices, a drop in remittances from abroad, and counterproductive economic policies. The private sector's main areas of activity are agriculture and trading, with most private industrial investment predating 1980. Agriculture employs 80% of the work force.

Khartoum is the capital of Sudan and of Khartoum State. Khartoum has a thriving economy. In recent years Khartoum has seen significant development, driven by Sudan's oil wealth. The center of the city is well-planned, with tree-lined streets.

Khartoum 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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Sri Lanka, Colombo - Cost of Living

The economy of Sri Lanka is famous for the production and export of tea, coffee, coconuts, rubber and cinnamon which is native to the country.

Colombo is the largest city and commercial capital of Sri Lanka. The great majority of Sri Lankan corporations have their head offices in Colombo. Some of the industries include chemicals, textiles, glass, cement, leather goods, furniture, and jewellery. In the city centre is located South Asia's second tallest building - The World Trade Centre.

Colombo 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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Asia-Pacific Cost of Living - 2010

Asia-Pacific has the top 2, most expensive cities in the world as at 1 July 2010. Tokyo is first and Hong Kong the second most expensive location in the world (and most expensive in greater China), whilst Sydney is the third most expensive city in Asia-Pacific (ranked 13 in the world). The Australian economy has seen stable growth compared to many weakening economies, while the Australian Dollar has strengthened 11% against the United States Dollar, and by 24% against the Euro in the past year. Cities in mainland China remain relatively cheap, mainly due to the pegging of the Chinese Yuan to the US Dollar which has kept costs down. Within mainland China, Beijing (ranked 100 in the world) is the twentieth most expensive city in Asia-Pacific, followed by Shanghai (ranked 107 in the world), and Wuhan (ranked 200 in the world). The cheapest city surveyed in China is Tianjin (ranked 256 in the world) with a cost of living index of 64.07 (New York = 100). The cheapest city in Asia-Pacific is Dushanbe in Tajikistan (ranked 279 in the world) with a cost of living index of 56.64 (New York = 100).

Most expensive cities in Asia-Pacific (Global rank in brackets)
1. Japan, Tokyo (1)
2. China, Hong Kong (2)
3. Australia, Sydney (13)
4. Australia, Canberra (17)
5. Papua New Guinea, Port Moresby (23)
6. Vanuatu, Port Vila (26)
7. New Caledonia, Noumea (31)
8. Korea Republic of, Seoul (32)
9. Australia, Melbourne (37)
10. Australia, Perth (38)

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Monday, August 30, 2010

Spain, Barcelona - Cost of Living

The economy of Spain has been regarded as one of the most dynamic within the EU, attracting significant amounts of foreign investment.

Madrid is the capital and largest city of Spain. Madrid is a major centre for international business and commerce. It is one of Europe's largest financial centres and the largest in Spain.

Barcelona 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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Spain, Madrid - Cost of Living

The economy of Spain has been regarded as one of the most dynamic within the EU, attracting significant amounts of foreign investment.

Barcelona is the capital and the most populous city of the Autonomous Community of Catalonia and the second largest city in Spain. Barcelona's economy consists of finance, commerce, media, entertainment, arts and international trade. Barcelona has a long-standing mercantile tradition.

Madrid 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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Do Expatriates experience hardship?


Does an Expatriate and their family experience any hardship? First impressions can be misleading. Many Expatriates accept an overseas position with high expectations of a better quality life, luxury accommodation, and the excitement of new experiences.


 


The reality is that many Expatriates are disappointed with the reality versus the expectation of their living and working experience. Once they settle in to their new environment, hardship, over which they have very little control often appear. Hardship is the relative difference in the quality of living a person and their family will experience and the relative impact on their lifestyle when moving between different locations. Factors include-:


 


Economic Differences: Such as moving from a First-World location with little poverty and high levels of service provision to a Third-World location where poverty may be prevalent and services intermittent or unavailable


 


Political Differences: Such as moving from a liberal western life style where diverse views are tolerated to a highly regulated life style where conformity is expected


 


Religious Differences: Such as moving from an environment where your religion is dominant, to a location where your religion is potentially seen with suspicion


 


Public Service Differences: Such as moving from an environment where water, electricity, sanitation, work permits etc are easily accessible, fast and efficient to one where services are not reliable, where administration requires a great deal of your time in poorly maintained offices potentially exposed to corrupt officials


 


Environment/Climate Differences: Such as moving from a mild climate to one of extreme weather such as very hot or very cold locations


 


Personal Safety Differences: Such as moving from a safe secure environment where you can walk the streets in safety to an environment where you require security (armed response, expensive insurance, high walls electric fences etc) and where it may not be safe to walk outdoors alone


 


Health Differences: Such as moving from an environment where vaccines and health standards have eradicated most disease to an environment where health standards are poor, and life threatening viral outbreaks common


 


Education Differences: Such as moving from an environment where state education standards are high, pupils are taught in their mother-tongue, and schools are close to home to an environment where state school standards are poor and in a different language requiring attendance at an international school which can be expensive and require daily travel


 


Transportation Differences: Such as moving from a location where public transport is freely available and efficient, to a location where it is unreliable and may not be safe to use.


 


In assessing how much to pay an Expatriate, it is important to take into account the relative hardship, in terms of quality of living conditions between locations, and assesses the relative level of difficulty that will be experienced in adapting to a new location.


South Africa, Pretoria - Cost of Living

The economy of South Africa is a two tiered economy; one rivaling other developed countries and the other with only the most basic infrastructure. It is therefore a productive and industrialised economy that exhibits many characteristics associated with developing countries, including a division of labour between formal and informal sectors and an uneven distribution of wealth and income. The primary sector, based on manufacturing, services, mining, and agriculture, is well developed.

Pretoria is a city located in the northern part of Gauteng Province, South Africa. It is one of the country's three capital cities, serving as the executive (administrative) and de facto national capital. As the national administrative (executive) capital of South Africa, Pretoria is the seat of government and houses the headquarters of the main government departments and ministries. As the de facto capital city, it also hosts the foreign embassies and diplomatic missions. The city is a major commercial centre and an important industrial centre. Its main industries are iron and steel works, copper casting, and the manufacture of automobiles, railway carriages and heavy machinery.

Pretoria 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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South Africa, Johannesburg - Cost of Living

The economy of South Africa is a two tiered economy; one rivaling other developed countries and the other with only the most basic infrastructure. It is therefore a productive and industrialised economy that exhibits many characteristics associated with developing countries, including a division of labour between formal and informal sectors and an uneven distribution of wealth and income. The primary sector, based on manufacturing, services, mining, and agriculture, is well developed.

Johannesburg is the largest city in South Africa. Johannesburg is the provincial capital of Gauteng, the wealthiest province in South Africa, having the largest economy of any metropolitan region in Sub-Saharan Africa. Johannesburg is one of the 40 largest metropolitan areas in the world, and is also the world's largest city not situated on a river, lake, or coastline. Johannesburg is one of the world's leading financial centres and it is the economic and financial hub of South Africa, producing 16% of South Africa's gross domestic product, and accounts for 40% of Gauteng's economic activity.

Johannesburg 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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Sunday, August 29, 2010

South Africa, Durban - Cost of Living

The economy of South Africa is a two tiered economy; one rivaling other developed countries and the other with only the most basic infrastructure. It is therefore a productive and industrialised economy that exhibits many characteristics associated with developing countries, including a division of labour between formal and informal sectors and an uneven distribution of wealth and income. The primary sector, based on manufacturing, services, mining, and agriculture, is well developed.

Durban is the third largest city in South Africa. Durban is famous as the busiest port in Africa. It is also a major centre of tourism due to the city's warm subtropical climate and beaches.

Durban 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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South Africa, Cape Town - Cost of Living

The economy of South Africa is a two tiered economy; one rivaling other developed countries and the other with only the most basic infrastructure. It is therefore a productive and industrialised economy that exhibits many characteristics associated with developing countries, including a division of labour between formal and informal sectors and an uneven distribution of wealth and income. The primary sector, based on manufacturing, services, mining, and agriculture, is well developed.

Cape Town is the provincial capital and primate city of the Western Cape, as well as the legislative capital of South Africa, where the National Parliament and many government offices are situated.

Cape Town is the economic centre of the Western Cape Province, South Africa's second main economic centre and even Africa's third main economic hub city. It serves as the regional manufacturing centre in the Western Cape. It also has the primary harbour and airport in the province.

Cape Town 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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Somalia, Mogadishu - Cost of Living

The economy of Somalia has, despite civil unrest, maintained a healthy informal economy, based mainly on livestock, remittance/money transfer companies, and telecommunications.

Mogadishu is the largest city in Somalia and the nation's capital. Mogadishu is the commercial and financial center of Somalia. Although the economy has recovered somewhat from the civil unrest, the Somali Civil War still presents many problems. The effective absence of government yields free trade without taxes or regulatory expenditures, but comes at the cost of civil society and infrastructure. Businesses have hired armed militias to provide security against gunmen, leading to a gradual reduction in open street violence. However, high levels of crime including frequent murders and occasional bombings are still rampant in the city.

Mogadishu 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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Solomon Islands, Honiara - Cost of Living

The economy of Solomon Islands is that of a lesser developed nation dependent on foreign aid. Over 75% of its labour force is engaged in subsistence farming and fishing.

Honiara is the capital of the Solomon Islands. Honiara industry consists of several beverage factories and a cookie factory. Major exports are timber, coconuts, copra and fish. Honiara International Airport is located about 10 kilometers outside the city.

Honiara 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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Saturday, August 28, 2010

Slovenia, Ljubljana - Cost of Living

The economy of Slovenia is developed and enjoys prosperity and stability, as well as a GDP per capita substantially higher than that of the other transitioning economies of Central Europe.

Ljubljana is the capital of Slovenia and its largest city. Industry is Ljubljana's most important employer, notably pharmaceuticals, petrochemicals and food processing.

jubljana 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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Slovakia, Bratislava - Cost of Living

The economy of Slovakia increasingly resembles a developed country. The Slovak economy has been considered a tiger economy. Slovakia has been a EU member state since 2004 and adopted the euro currency at the beginning of 2009.

Bratislava is the capital of the Slovak Republic. The Bratislava Region is the wealthiest and economically most important region in Slovakia, despite being the smallest by area and having the second smallest population of the eight Slovak regions.

Bratislava 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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Singapore, Singapore - Cost of Living

The economy of Singapore is a highly developed market-based economy, which has historically revolved around trade. The economy depends heavily on exports and refining imported goods, especially in manufacturing.

Singapore is an island city-state. Singapore has one of the busiest ports in the world.

Singapore 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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Sierra Leone, Freetown - Cost of Living

The economy of Sierra Leone is slowly emerging from a protracted civil war and is showing signs of a successful transition. The country is very rich in minerals and has relied on mining, especially diamonds, for its economic base. The country is among the top 10 diamond producing nations in the world, and mineral exports remain the main foreign currency earner.

Freetown is the capital and largest city of Sierra Leone. Freetown is the economic, financial, and cultural center of Sierra Leone.

Freetown 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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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, August 27, 2010

Seychelles, Victoria - Cost of Living

The economy of the Seychelles is primarily based on the tourist sector, which employs about 30% of the labor force and provides more than 70% of the revenue.

Victoria is the capital city of the Republic of Seychelles. Victoria is the smallest African capital. The principal exports are vanilla, coconuts, coconut oil, tortoise shell, soap, and guano.

Victoria 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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Serbia, Belgrade - Cost of Living

The economy of Serbia is based mostly on services, which account for about 63% of the GDP. The economy has a high unemployment rate of 14% and a unfavourable trade deficit.

Belgrade is the capital and largest city of Serbia. Belgrade is the central economic hub of Serbia, and the capital of Serbian education and science.

Belgrade 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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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.


Senegal, Dakar - Cost of Living

The economy of Senegal is predominantly rural with limited natural resources and gains most of its foreign exchange from fish, phosphates, groundnuts, tourism, and services.

akar is the capital and largest city of Senegal. Dakar is the westernmost city on the African mainland and is a major regional port.

Dakar 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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Saudi Arabia, Riyadh - Cost of Living

Saudi Arabia's economy is petroleum-based; roughly 75% of budget revenues and 90% of export earnings come from the oil industry.

Riyadh is the capital and largest city of Saudi Arabia. Riyadh is a large metropolis and is a focal point for both travel and trade.

Riyadh 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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Thursday, August 26, 2010

Sao Tome and Principe, Sao Tome - Cost of Living

The economy of Sao Tome and Principe, while traditionally dependent on cocoa, is experiencing considerable changes due to investment in the development of its oil industry its territorial waters in the oil-rich waters of the Gulf of Guinea.

Sao Tome is the capital city of Sao Tome and Principe and is the largest town. Sao Tome is an important port and center of the island's road and bus networks.

Sao Tome 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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San Marino, San Marino - Cost of Living

The tourist sector contributes over 50% of San Marino's GDP. Other key industries are banking, electronics, and ceramics. The main agricultural products are wine and cheese.

The City of San Marino is the capital city of the Republic of San Marino. The economy of the city of San Marino is closely bound to that of the country.

San Marino 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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Samoa, Apia - Cost of Living

The economy of Samoa has traditionally been dependent on development aid, private family remittances from overseas, and agricultural exports. Agriculture employs two-thirds of the labour force, and furnishes 90% of exports.

Apia is the capital and the largest city of Samoa. Apia Harbour is by far the largest and busiest harbour in Samoa. Apia is served by a good road network, which is generally kept reasonably well maintained.

Apia 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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Saint Vincent and the Grenadines, Kingstown - Cost of Living

The economy of Saint Vincent and the Grenadines is largely based on agriculture which is dominated by banana production. The services sector, based mostly on a growing tourist industry, is also important.

Kingstown is the chief port of Saint Vincent, and the capital of Saint Vincent and the Grenadines. Kingstown is a centre for the island's agricultural industry and a port of entry for tourists. Exports include bananas, coconuts, and arrowroot.

Kingstown 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, August 25, 2010

Saint Lucia, Castries - Cost of Living

The economy of Saint Lucia depends primarily on tourism, banana production, and light manufacturing.

Castries is the capital city of Saint Lucia. Castries houses the government and head offices of many businesses both foreign and local. It also has a sheltered harbour which receives cargo vessels and ferry boats as well as cruise ships.

Castries 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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Saint Kitts and Nevis, Basseterre - Cost of Living

The economy of Saint Kitts and Nevis is dominated by tourism, agriculture and light manufacturing industries.

Basseterre is the capital of the Federation of Saint Kitts and Nevis. The city of Basseterre has established itself as a financial centre in the Eastern Caribbean.

Basseterre 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.


Saint Helena, Jamestown - Cost of Living

The economy of St Helena is very weak, and the island is almost entirely sustained by aid from London. The public sector dominates the economy, accounting for about half of GDP.

Jamestown is the capital of the island of Saint Helena. Jamestown is the island's port, with facilities for unloading goods delivered to the island, and the centre of the island's road and communications network.

Jamestown 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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Rwanda, Kigali - Cost of Living

The economy of Rwanda is primarily rural with about 90% of the population engaged in agriculture with few natural resources and minimal industry. Primary exports are coffee and tea.

Kigali is the capital and largest city of Rwanda. Kigali is the economic, cultural, and transport hub of Rwanda.

Kigali 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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Tuesday, August 24, 2010

Russia, Moscow - Cost of Living

The economy of Russia is the eighth largest economy in the world by nominal value and the sixth largest by purchasing power parity (PPP). Oil, natural gas, metals, and timber account for more than 80% of Russian exports abroad.

Moscow is the capital and the largest city of Russia. Moscow is one of largest city economies in Europe and it comprises approximately 20% of Russian GDP.

Moscow 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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Romania, Bucharest - Cost of Living

Romania is an upper-middle income European Union member economy of Central-Eastern Europe.

Bucharest is the capital and largest city of Romania. Bucharest is the industrial, cultural, and financial centre of Romania and is one of the main industrial centres and transportation hubs of Eastern Europe.

Bucharest 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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Qatar, Doha - Cost of Living

Petroleum is the cornerstone of Qatar's economy and accounts for more than 70% of total government revenue.

Doha is the capital and largest city of the state of Qatar. Doha is Qatar's largest city, with over 80% of the nation's population residing in Doha or its surrounding suburbs, and is also the economic center of the country.

Doha 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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Puerto Rico, San Juan - Cost of Living

The economy of Puerto Rico is dynamic with a diverse industrial sector that has surpassed agriculture as the primary focus of economic activity and income.

San Juan is the capital and largest municipality in Puerto Rico. San Juan is one of Puerto Rico's most important seaports, and is the island's manufacturing, financial, cultural, and tourism center.

San Juan 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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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, August 23, 2010

Portugal, Lisbon - Cost of Living

The economy of Portugal is a high income mixed economy. Fisheries and agriculture account for about 4% of the GDP, employing 13% of the labour force. The tertiary sector has grown, producing 66% of the GDP and providing jobs for 52% of the working population. Unemployment is relatively high.

Lisbon is the capital and largest city of Portugal. The Lisbon region is the wealthiest region in Portugal and is the countries chief seaport. Lisbon's economy is based primarily on the tertiary sector. Most of the headquarters of multinationals operating in Portugal are concentrated in the Grande Lisboa subregion.

Lisbon 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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Poland, Warsaw - Cost of Living

The economy of Poland is considered to be one of the healthiest economies of the post-communist countries, and is currently the fastest growing country within the EU.

Warsaw is the capital and largest city of Poland. Warsaw is home to many national institutions and government agencies, as well as to many domestic and international companies. Warsaw produces 12% of Poland's national income. Warsaw has the biggest concentration of electronics and high-tech industry in Poland.

Warsaw 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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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!


Philippines, Manila - Cost of Living

The economy of the Philippines is a mixed economic system, and one of the newly industrialized emerging market economies of the world. Important sectors of the Philippine economy include agriculture and industry, particularly food processing, textiles and garments, and electronics and automobile parts.

Manila is the capital of the Philippines. Manila is one of the world's largest and most densely populated cities in the world. Manila's economy is diverse and multifaceted and serves as the nation's chief seaport.

Manila 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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Peru, Lima - Cost of Living

The economy of Peru is an emerging market-oriented economy characterized by a high level of foreign trade. Peru's economy has experienced significant growth in the last 15 years.

Lima is the capital and largest city of Peru. Lima is the industrial and financial center of Peru, home to many national companies. It accounts for more than two thirds of Peru's industrial production and most of its tertiary sector.

Lima 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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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, August 22, 2010

Paraguay, Asuncion - Cost of Living

Paraguay has a market economy characterized by a large informal sector. Agriculture dominates the economy, but unequal land distribution has resulted in a large class of peasant farm laborers. A large portion of the population is uninvolved in the formal economy, instead existing as subsistence farmers.

Asuncion is the capital and largest city of Paraguay. Asuncion is the home of the national government, principal port, and the chief industrial and cultural centre of the country. Local manufacturing production includes footwear, textiles, and tobacco products.

Asuncion 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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Papua New Guinea, Port Moresby - Cost of Living

The economy of Papua New Guinea is richly endowed with natural resources, but exploitation has been hampered by the rugged terrain and the high cost of developing infrastructure. Agriculture provides a subsistence livelihood for the bulk of the population.

Port Moresby is the capital and largest city of Papua New Guinea. The city is often covered by a smoke haze that is created by the numerous small fires lit beside the road or in the bush by its inhabitants. The city experiences high levels of rape, robbery, murder and large areas of the city are controlled by gangs.

Port Moresby 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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