Monday, October 10, 2011

October 2011 Cost of Living Trends Now Available

We have completed the latest update of the cost of living, exchange rate and hardship data based on the data collected during the third quarter of 2011, for 300 global locations as at 1 October 2011.

The cost of living for an expatriate is affected by local prices. Prices for goods and services, that are representative of an expatriate lifestyle, are in turn the result of factors such as availability (supply & demand factors), local pricing structures (such as premiums for luxury brands), local inflation, and local currency exchange rates.

Tokyo remains the costliest city in the world, for expatriates, to live in. Tokyo is the most expensive city to live in for groceries, healthcare, and household accommodation.

Geneva is the second most expensive city to live in. Geneva is most expensive place in the world for hotels restaurants and meals out and is second most expensive place for groceries, healthcare, and transport, while it is fourth most expensive place for clothing.

Zurich, the third most expensive city in the world is particularly expensive for hotels restaurants and meals out, healthcare, groceries and transport.

Hong Kong is the fourth most expensive city in the world for expatriates to live in. Hong Kong is the second most expensive city in the world for household accommodation, which typically comprises 30% of an expatriate’s expenses.