Monday, February 28, 2011

Expat Quality of Life News: A different kind of expat

Ask an expat why they chose to move abroad and, for most, somewhere in the answer, there’ll be something either about quality of life or about making more money. This weekend, however, I came across a very different type of expat: The type that chooses to live in cramped quarters at sea with no pay.

Far from wanting to make money, these “floating expats” leave their home countries and families for a minimum period of two years in order to learn more about themselves, to develop their skills and passions, to take on leadership responsibilities and to learn about other cultures. They are the staff of Logos Hope – a tatty-looking, 38-year-old ex-car ferry, which is currently moored alongside the QE2 and adjacent to the enormous Costa Deliziosa cruise ship in Dubai’s Port Rashid.

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Portland - Cost of Living

Portland
is Oregon's most populous city, and the third most populous city in the Pacific Northwest, after Seattle, Washington, and Vancouver, British Columbia.


Portland and the region are noted for strong land-use planning and investment in light rail, supported by Metro. Portland is known for its large number of microbreweries and microdistilleries, and its coffee fanaticism.


Portland 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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Pittsburgh - Cost of Living

Pittsburgh is the second largest city in the state of Pennsylvania and is the county seat of Allegheny County.
Pittsburgh is historically known for its steel industry, today its economy is largely based on healthcare, education, technology, robotics, and financial services.


Pittsburgh 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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Expat Contracting News: Working abroad can offer higher pay

People who are thinking of working abroad could find that they can earn a higher salary overseas than they do in the UK, it has been suggested. According to Shelter Offshore, working abroad, which could include those undertaking international contracting, often offers a number of benefits. As well as a possible higher salary, the cost of living in many other countries is lower than the UK, which can make life more affordable.

However, the news portal said that people looking into working abroad need to consider what to do with their UK pension, adding that seeking "qualified, regulated independent financial advice" is very important.

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America Cost of Living: January 2011

The Americas most expensive city is Caracas, which is the world’s second most expensive city to live in for expatriates.

Brazil has 3 of the 4 most expensive cities in the Americas. Sao Paulo (ranked 7 in the world), Rio de Janeiro (ranked 11) are followed by Brasilia (ranked 15). Nassau (ranked 25) is the fifth most expensive city, while New York (ranked 33) is the sixth 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 La Paz in Bolivia (ranked 294 in the world). The cheapest city surveyed in the United States of America is Indianapolis Ind (ranked 285 in the world).

Most expensive cities in the Americas (Global rank in brackets)

1. Venezuela, Caracas (2)
2. Brazil, Sao Paulo (7)
3. Brazil, Rio de Janeiro (11)
4. Brazil, Brasilia (15)
5. Bahamas, Nassau (25)
6. USA, New York NY (33)
7. Canada, Toronto (37)
8. Falkland Islands, Stanley (42)
9. Trinidad and Tobago, Port-of-Spain (47)
10.Canada, Vancouver (54)

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Middle East Cost of Living: January 2011

The Middle East's most expensive city is Abu Dhabi (ranked 27 in the world), followed by Doha (ranked 49), and Bahrain (ranked 87). Dubai is the fourth most expensive city in the Middle East (ranked 89 in the world) with a cost of living index of 89.7. The cheapest city surveyed in the Middle East (and cheapest in the world) is Sanaa in Yemen (ranked 300 in the world) with a cost of living index of 49.7, 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. United Arab Emirates, Abu Dhabi (27)
2. Qatar, Doha (49)
3. Bahrain, Manama (87)
4. United Arab Emirates, Dubai (89)
5. Israel, Jerusalem (102)
6. Lebanon, Beirut (138)
7. Palestinian Territories, West Bank (152)
8. Kuwait, Kuwait City (156)
9. Syria, Damascus (165)
10.Iran, Tehran (170)

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Sunday, February 27, 2011

How to Calculate an International Cost of Living Allowance


A Cost of Living Allowance (COLA) is a salary supplement paid to employees to cover differences in the cost of living, particularly as a result of an international assignment.

The amount of COLA should enable an expatriate to be able to purchase the same basket of goods and services in the host location as they could in their home country. The basis for calculating a COLA is the Cost of Living Index (COLI) which indexes the costs of the same basket of goods and services in different geographic locations. COLA is a simple accurate method of measuring fluctuating salary purchasing power and ensuring parity.

Cost of Living Index
Our cost of Living Indexes measure the cost of 230 products and services across 13 different basket groups in 276 cities across the globe. The data is gathered by a team of research analysts who survey comparable items that are available internationally. A minimum of 3 prices for the same brand/size/volume of product is used to determine the average price for each item in each location. The items are priced on a quarterly basis and tend to rise and fall with inflation. The 13 different basket categories are as follows:

Alcohol & Tobacco: Alcoholic beverages and tobacco products
  • Alcohol at Bar

  • Beer

  • Cigarettes

  • Locally Produced Spirit

  • Whiskey

  • Wine


Clothing: Clothing and footwear products
  • Business Suits

  • Casual Clothing

  • Children’s Clothing and footwear

  • Coats and hats

  • Evening Wear

  • Shoe Repairs

  • Underwear


Communication
  • Home Telephone Rental and Call Charges

  • Internet Connection and service provider fees

  • Mobile / Cellular Phone Contract and Calls

Education
  • Crèche / Pre-School Fees

  • High School / College Fees

  • Primary School Fees

  • Tertiary Study Fees

Furniture & Appliances: Furniture, household equipment and household appliances
  • DVD Player

  • Fridge Freezer

  • Iron

  • Kettle, Toaster, Microwave

  • Light Bulbs

  • Television

  • Vacuum Cleaner

  • Washing Machine

Groceries: Food, non-alcoholic beverages and cleaning material
  • Baby Consumables

  • Baked Goods

  • Baking

  • Canned Foods

  • Cheese

  • Cleaning Products

  • Dairy

  • Fresh Fruits

  • Fresh Vegetables

  • Fruit Juices

  • Frozen

  • Meat

  • Oil & Vinegars

  • Pet Food

  • Pre-Prepared Meals

  • Sauces

  • Seafood

  • Snacks

  • Soft Drinks

  • Spices & Herbs 

Healthcare: General Healthcare, Medical and Medical Insurance
  • General Practitioner Consultation rates

  • Hospital Private Ward Daily Rate

  • Non-Prescription Medicine

  • Private Medical Insurance / Medical Aid Contributions

Household: Housing, water, electricity, household gas, household fuels, local rates and residential taxes
  • House / Flat Mortgage

  • House / Flat Rental

  • Household Electricity Consumption

  • Household Gas / Fuel Consumption

  • Household Water Consumption

  • Local Property Rates / Taxes / Levies

Miscellaneous: Stationary, Linen and general goods and services
  • Domestic Help

  • Dry Cleaning

  • Linen

  • Office Supplies

  • Newspapers and Magazines

  • Postage Stamps

Personal Care: Personal Care products and services
  • Cosmetics

  • Haircare

  • Moisturiser / Sun Block

  • Nappies

  • Pain Relief Tablets

  • Toilet Paper

  • Toothpaste

  • Soap / Shampoo / Conditioner

Recreation and Culture
  • Books

  • Camera Film

  • Cinema Ticket

  • DVD and CD’s

  • Sports goods

  • Theatre Ticket

Restaurants, Meals Out and Hotels
  • Business Dinner

  • Dinner at Restaurant (non fast food)

  • Hotel Rates

  • Take Away Drinks & Snacks (fast Food)

Transport: Public Transport, Vehicle Costs, Vehicle Fuel, Vehicle Insurance and Vehicle Maintenance
  • Hire Purchase / Lease of Vehicle

  • Petrol / Diesel

  • Public Transport

  • Service Maintenance

  • Tyres

  • Vehicle Insurance

  • Vehicle Purchase

Each basket category does not count equally and are weighted in the final calculation based on expatriate spending patterns.

In order to calculate an accurate cost of living index for a specific individual the basket items that are not relevant to the individual should be excluded from the calculation. For example if education and housing is provided by the employer these basket categories would be excluded from the cost of living index calculation. This increases the accuracy of the cost of living index and makes it possible for each individual to have their own customized cost of living index based on their specific arrangements rather than using an overall “generic” index which is likely to contains costs that are not relevant to the individual.

The formula for calculating the specific cost of living index for an international assignment is as follows:

Cost of Living Index = Customized Cost of Living Index for Host City / Customized Cost of Living Index for Home City

When moving to a higher cost of living host city, the index will be greater than 1 (positive). When moving to a lower cost of living host city the index will be less than 1 (negative). Where the index is negative it means that in real terms the cost of living in the host city is lower than the home city. This means that if the negative index where to be applied to the employee’s salary, they would actually be paid proportionately less spendable salary in the host city. It is important to note that the majority of organizations do not apply a negative cost of living index because it makes it difficult to persuade an employee to take up an assignment as they tend to see it as a reduction in salary.
Examples of Cost of Living Index Calculations using our data:

Example 1) An Australian employee moving from Perth to London where healthcare and communication will be provided by the employer

More Expensive in London:
  • Alcohol & Tobacco +4.77%

  • Clothing +21.85%

  • Education +31.53%

  • Furniture & Appliances +16.03%

  • Groceries +16.35%

  • Household +50.72%

  • Miscellaneous +137.47%

  • Personal Care +11.18%

  • Recreation & Culture -6.82%

  • Restaurants Meals Out and Hotels +34.99%

  • Transport +19.80%

The overall difference in cost of living moving from Perth and London is +28.06%.

In this case the cost of living index is positive and would be applied as it is.

Example 2) A British employee moving from London to Mumbai where the employer will provide housing and education

More Expensive in Mumbai:
  • Alcohol & Tobacco -37.53%

  • Clothing -9.58%

  • Communication -44.92%

  • Furniture & Appliances -19.31%

  • Groceries -24.03%

  • Healthcare -31.24%

  • Miscellaneous -72.43%

  • Personal Care -24.94%

  • Recreation & Culture -35.73%

  • Restaurants Meals Out and Hotels -33.11%

  • Transport is -27.99%

The overall difference in cost of living moving from London Mumbai is -30.53%.

In this case the cost of living index is negative and would not be applied.

Net Spendable Salary

Differences in cost of living only impact the portion of the salary that is spendable in the host country. Items in the home country such as retirement funding, medical insurance and other home based costs are not impacted by the cost of living in the host country.

To determine the Net Spendable Salary establish what amount / portion of the current salary (in home currency) is spent in maintaining the employee’s current standard of living / lifestyle. What will the expatriate need to spend their salary on in the host country? For example will accommodation be provided or will the employee pay rent, will healthcare be provided etc. Deduct all items that are either provided in kind or are spendable in the home country. Deduct the hypothetical amount of tax, social contributions and any other statutory deductions applicable in the home country from the Spendable Salary. What is left is the Net Spendable Salary.

Cost of Living Allowance (COLA)
The formula for calculating the cost of living allowance using the above inputs is as follows:

(Net Spendable Salary X Cost of Living Index X Hardship Index X Exchange Rate) less (Net Spendable Salary X Exchange Rate) = COLA

Examples of COLA Calculations using our data

Example 1) An Australian employee with a net spendable salary of AUD$100,000 moving from Perth to London where healthcare and communication will be provided by the employer

($100,000.00 X 1.2806 X 1 X 0.4768) less ($100,000.00 X 0.4768) = COLA of £13,379.44 (GBP)

Based on all the above factors a person would require a Cost of Living Allowance of £13,379.44 (GBP), in addition to their current salary of 100,000.00 Australian Dollar (AUD) to compensate for relocating from Perth to London. This Cost of Living Allowance compensates for the overall cost of living difference of +28.06% and the relative difference in hardship of 0%.

Example 2) A British employee with a net spendable salary of £18,000 moving from London to Mumbai where the employer will provide housing and education

Note: Because the Cost of Living Index is negative it is not applied.

(£18,000.00 X 1 X 1.3 X 67.2852) less (£18,000.00 X67.2852) = COLA of 363,340.32 Indian Rupee

Based on all the above factors a person would require a Cost of Living Allowance of 363,340.32 (INR ), in addition to their current salary of £18,000.00 British Pound (GBP ) to compensate for relocating from London to Mumbai. This Cost of Living Allowance compensates for the overall cost of living difference of [-30.53%] and the relative difference in hardship of 30%.

COLA Payment

The COLA is paid as a salary supplement (i.e. as an additional allowance) net of tax in the host country. If the COLA is a taxable allowance in the host country it should be grossed up in order that the full amount of calculated COLA is paid net of tax given that the basis of the calculation is Net Spendable Salary. The COLA is often accompanied by other allowances and benefits such as flights home, relocation / settling in allowance, and furnishing allowance.

Exchange Rate Fluctuations
Significant changes in the exchange rate can make a considerable difference in the COLA calculation. In 2008 some of the major global exchange rates changed by as much as 30-40%.

The cost of living index reflects the changes caused by inflation and exchange rates. In the short-term there may be disequilibrium between inflation and the exchange rate (the one pushes the other), however over time the cost of living index provides the most accurate view of the cost of living.

It is important to remind expatriates that when the cost of living difference is negative, and the negative value has not been applied, they have higher purchasing power in the host country than they would at home.

Where a negative cost of living index has not been applied (our recommended approach), and a change in the exchange rate indicates an upward adjustment in COLA may be required, it is recommended that the COLA should not be adjusted upward until the cost of living index becomes positive i.e. the cost of living reflects that there is a “real” increase in cost of living between home and host countries. This may mean that their would be no increase in the COLA as a result of exchange rate fluctuations for some considerable time. During this time the employee’s purchasing power decreases. But it is important to remember that until the cost of living difference becomes positive, the individual will still have a higher purchasing power than they do in their home country.

It is advisable to stipulate a currency protection rule, rather than reacting to every fluctuation in the exchange rate. For example the rule may state that COLA will be reviewed if exchange rates or local inflation move by more than +10% during a year. It is important to keep in mind that the prices of goods and services are unlikely to drop in local currency. This would only occur in a period of deflation (negative inflation). Therefore the currency protection rule would normally make provision for upward adjustments in COLA and not downward adjustments during an employee’s assignment. Downward adjustments to an existing COLA due to exchange rate fluctuations without a corresponding drop in the prices of local goods and services puts immense pressure on an employee’s host currency budget commitments and can lead to the employee experiencing financial difficulty.

Using an independent service provider provides an independent, objective basis for determining an employee’s COLA.

We recommend therefore that a COLA is calculated by applying the specific (customized) cost of living index to the net spendable salary at the beginning of the assignment and monitoring exchange rate fluctuations thereafter in addition to the annual salary review.

Information Xpatulator.com

Saturday, February 26, 2011

Los Angeles - Cost of Living

Los Angeles is the second largest city in the United States.
Los Angeles is a world center of business, international trade, entertainment, culture, media, fashion, science, technology, and education. It is home to renowned institutions covering a broad range of professional and cultural fields, and is one of the most substantial economic engines within the United States.


Los Angeles 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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Las Vegas - Cost of Living

Las Vegas is the most populous city in Nevada, the seat of Clark County.

Las Vegas is an internationally renowned major resort city for gambling, shopping and fine dining. Las Vegas, which bills itself as The Entertainment Capital of the World, is famous for the number of casino resorts and associated entertainment.

Las Vegas 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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Jacksonville - Cost of Living

Jacksonville is a city in the U.S. state of Florida, and is the county seat of Duval County. Since 1968, as a result of the consolidation of the city and county government, and a corresponding expansion of the city limits to include almost the entire county, Jacksonville is the largest city in land area in the contiguous United States.

Jacksonville is the largest deepwater port in the south (as well as the second-largest port on the U.S. East coast) and a leading port in the U.S. for automobile imports, as well as the leading transportation and distribution hub in the state. The strength of the city's economy lies in its broad diversification which is balanced among distribution, financial services, biomedical technology, consumer goods, information services, manufacturing, insurance and other industries.

Jacksonville 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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Indianapolis - Cost of Living

Indianapolis is the capital of the U.S. state of Indiana, and the county seat of Marion County, Indiana. It is Indiana's largest city and is the 14th largest city in the U.S., the third largest city in the Midwest (behind Chicago and Detroit).

Indianapolis has a diversified economy including, government, industry, particularly manufacturing, as well as contributing to the fields of education, health care, and finance. Tourism is also a vital part of the economy of Indianapolis, and the city plays host to numerous conventions and sporting events.

Indianapolis 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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Friday, February 25, 2011

Expat India News: English radio lessons a hit in India

Millions of primary students in the northern Indian state of Bihar today learn English through a radio lesson. Ever since the programme began in November last year it has become an instant hit with the students. The lesson is called 'English is Fun' and teaches the basics of the language to primary school students. The year-long interactive radio lessons are being broadcast by the four regional state-run All India Radio stations. The lessons cover seven million students attending 65,000 primary schools in all the 38 districts of the state.

Read more

Transport International Cost of Living Ranking: January 2011

This report provides you with the rank of Transport cost of living indexes as at January 2011 for each of our 300 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). Our calculators make use of the cost of living indexes, based on your input and Xpatulator's data, to create reports online which you can save, e-mail or convert to a pdf file.

 

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 January 2011 transport international cost of living rank is as follows:

 

January 2011 Rank Country, City


1 Norway, Oslo
2 Switzerland, Geneva
3 Switzerland, Zurich
4 Liechtenstein, Vaduz
5 Denmark, Copenhagen
6 Germany, Munich
7 Germany, Frankfurt
8 Netherlands, Amsterdam
9 Germany, Cologne
10 Germany, Bonn
11 Germany, Berlin
12 Germany, Hamburg
13 Monaco, Monaco
14 France, Paris
15 Turkey, Istanbul
16 Brazil, Sao Paulo
17 Malta, Velletta
18 Georgia Republic of, Tbilisi
19 Austria, Vienna
20 Finland, Helsinki
21 Japan, Tokyo
22 Brazil, Rio de Janeiro
23 Cameroon, Douala
24 Turkey, Ankara
25 Timor-Leste, Dili
26 Italy, Milan
27 Ireland, Dublin
28 Cameroon, Yaounde
29 Italy, Rome
30 Iceland, Reykjavik
31 Hungary, Budapest
32 India, Mumbai
33 Brazil, Brasilia
34 Spain, Madrid
35 Luxembourg, Luxembourg
36 San Marino, San Marino
37 Mali, Bamako
38 Trinidad and Tobago, Port-of-Spain
39 United Kingdom, London
40 Spain, Barcelona
41 Gambia, Banjul
42 Eritrea, Asmara
43 India, New Delhi
44 Sweden, Stockholm
45 Guernsey, St Peter Port
46 India, Chennai
47 Vatican City, Vatican City
48 India, Calcutta
49 Sao Tome and Principe, Sao Tome
50 Isle of Man, Douglas
51 France, Lyon
52 Canada, Toronto
53 Australia, Sydney
54 India, Hyderabad
55 India, Bangalore
56 Maldives, Male
57 Kiribati, South Tarawa
58 Portugal, Lisbon
59 Australia, Canberra
60 Congo Democratic Rep, Kinshasa
61 Belgium, Brussels
62 Poland, Warsaw
63 Canada, Vancouver
64 Fiji, Suva
65 Greenland, Nuuk
66 Turkmenistan, Ashgabat
67 Slovakia, Bratislava
68 United Kingdom, Glasgow
69 Cook Islands, Avarua
70 Canada, Calgary
71 Jersey, Saint Helier
72 Falkland Islands, Stanley
73 Andorra, Andorra la Vella
74 Australia, Perth
75 France, Marseille
76 United Kingdom, Birmingham
77 United Kingdom, Leeds
78 Canada, Montreal
79 Australia, Melbourne
80 Madagascar, Antananarivo
81 Vanuatu, Port Vila
82 Senegal, Dakar
83 Rwanda, Kigali
84 Jamaica, Kingston
85 Malawi, Lilongwe
86 Saint Helena, Jamestown
87 Greece, Athens
88 Gibraltar, Gibraltar
89 USA, New York NY
90 United Kingdom, Belfast
91 Congo, Brazzaville
92 Papua New Guinea, Port Moresby
93 Venezuela, Caracas
94 Azerbaijan, Baku
95 Israel, Jerusalem
96 Canada, Ottawa
97 Australia, Brisbane
98 Japan, Osaka
99 Micronesia, Palikir
100 Zambia, Lusaka
101 Cyprus, Nicosia
102 New Zealand, Auckland
103 Australia, Adelaide
104 Gabon, Libreville
105 Guinea-Bissau, Bissau
106 China, Hong Kong
107 Croatia, Zagreb
108 Tuvalu, Funafuti
109 Togo, Lome
110 Japan, Nagoya
111 Grenada, Saint Georges
112 Cote DIvoire, Abidjan
113 Swaziland, Mbabane
114 Mongolia, Ulaanbaatar
115 Martinique, Fort-de-France
116 Macedonia, Skopje
117 Paraguay, Asuncion
118 Solomon Islands, Honiara
119 Indonesia, Jakarta
120 Central African Republic, Bangui
121 Chad, NDjamena
122 Puerto Rico, San Juan
123 Philippines, Manila
124 Jordan, Amman
125 Japan, Yokohama
126 Tanzania, Dar es Salaam
127 Guatemala, Guatemala City
128 Palestinian Territories, West Bank
129 Botswana, Gaborone
130 Equatorial Guinea, Malabo
131 Nauru, Yaren
132 Ghana, Accra
133 Cayman Islands, George Town
134 Estonia, Tallinn
135 China, Shanghai
136 Samoa, Apia
137 Laos, Vientiane
138 Singapore, Singapore
139 Bangladesh, Dhaka
140 Nigeria, Lagos
141 Guam, Hagatna
142 Comores, Moroni
143 Czech Republic, Prague
144 China, Beijing
145 Marshall Islands, Majuro
146 Montenegro, Podgorica
147 Morocco, Rabat
148 Bulgaria, Sofia
149 Kazakhstan, Almaty
150 South Africa, Johannesburg
151 Chile, Santiago
152 Niger, Niamey
153 Kosovo, Pristina
154 New Caledonia, Noumea
155 USA, Anchorage AK
156 Lebanon, Beirut
157 Kyrgyzstan, Bishkek
158 Guadeloupe, Basse-Terre
159 USA, Chicago Ill
160 China, Macao
161 USA, Seattle Wash
162 USA, Washington DC
163 Peru, Lima
164 USA, Portland Ore
165 Costa Rica, San Jose
166 Djibouti, Djibouti
167 Colombia, Bogota
168 South Africa, Pretoria
169 Sierra Leone, Freetown
170 South Africa, Cape Town
171 Syria, Damascus
172 USA, Los Angeles Calif
173 USA, San Diego Calif
174 Cape Verde, Praia
175 Mozambique, Maputo
176 Lesotho, Maseru
177 Afghanistan, Kabul
178 Romania, Bucharest
179 USA, Miami Fla
180 Barbados, Bridgetown
181 USA, Pittsburgh Penn
182 Taiwan, Taipei
183 Albania, Tirana
184 Lithuania, Vilnius
185 Burkina Faso, Ouagadougou
186 USA, San Francisco Calif
187 South Africa, Durban
188 Serbia, Belgrade
189 Bosnia and Herzegovina, Sarajevo
190 Northern Mariana Islands, Saipan
191 USA, Phoenix Ariz
192 Mauritius, Port Louis
193 Ethiopia, Addis Ababa
194 Somalia, Mogadishu
195 Sudan, Khartoum
196 USA, Philadelphia Pa
197 Saint Vincent and the Grenadines, Kingstown
198 Namibia, Windhoek
199 Bolivia, La Paz
200 Argentina, Buenos Aires
201 Seychelles, Victoria
202 Iraq, Baghdad
203 Yemen, Sanaa
204 Slovenia, Ljubljana
205 Panama, Panama City
206 USA, Baltimore Md
207 Haiti, Port-au-Prince
208 Latvia, Riga
209 Bermuda, Hamilton
210 Brunei, Bandar Seri Begawan
211 French Polynesia, Papeete
212 Palau, Melekeok
213 Mexico, Mexico City
214 USA, Jacksonville Fla
215 USA, Las Vegas Nev
216 Kuwait, Kuwait City
217 USA, San Antonio Tex
218 United Arab Emirates, Abu Dhabi
219 USA, San Jose Calif
220 Guinea, Conakry
221 Russia, Moscow
222 USA, Boston Mass
223 USA, Tampa Fla
224 USA, Dallas Tex
225 USA, Fort Worth Tex
226 USA, Atlanta GA
227 Bahrain, Manama
228 Liberia, Monrovia
229 USA, Detroit Mich
230 United Arab Emirates, Dubai
231 China, Shenzhen
232 China, Wuhan
233 USA, Cleveland Ohio
234 Bhutan, Thimphu
235 Antigua and Barbuda, Saint Johns
236 Saint Kitts and Nevis, Basseterre
237 USA, Denver Colo
238 China, Dalian
239 Uruguay, Montevideo
240 Suriname, Paramaribo
241 Mauritania, Nouakchott
242 USA, Houston Tex
243 Algeria, Algiers
244 Bahamas, Nassau
245 Dominican Republic, Santo Domingo
246 USA, El Paso Tex
247 USA, Milwaukee Wis
248 Honduras, Tegucigalpa
249 USA, Indianapolis Ind
250 Armenia, Yerevan
251 USA, St Louis MO
252 El Salvador, San Salvador
253 Dominica, Roseau
254 Sri Lanka, Colombo
255 Zimbabwe, Harare
256 Tonga, NukuAlofa
257 Tunisia, Tunis
258 Vietnam, Hanoi
259 Moldova, Chisinau
260 USA, Charlotte NC
261 French Guiana, Cayenne
262 USA, Columbus Ohio
263 Korea Republic of, Seoul
264 Vietnam, Ho Chi Minh City
265 Cuba, Havana
266 Belize, Belmopan
267 Thailand, Bangkok
268 Ecuador, Quito
269 China, Guangzhou
270 Oman, Muscat
271 Pakistan, Lahore
272 China, Tianjin
273 Saint Lucia, Castries
274 Benin, Cotonou
275 Iran, Tehran
276 Nepal, Kathmandu
277 Korea Democratic Republic of, Pyongyang
278 Ukraine, Kiev
279 Russia, St. Petersburg
280 Angola, Luanda
281 Pakistan, Islamabad
282 USA, Austin Tex
283 USA, Memphis Tenn
284 Uzbekistan, Tashkent
285 Pakistan, Karachi
286 Nicaragua, Managua
287 Guyana, Georgetown
288 Myanmar, Yangon
289 Egypt, Cairo
290 Uganda, Kampala
291 Libya, Tripoli
292 Kenya, Nairobi
293 Malaysia, Kuala Lumpur
294 Belarus, Minsk
295 Qatar, Doha
296 Tajikistan, Dushanbe
297 Saudi Arabia, Riyadh
298 Saudi Arabia, Jeddah
299 Burundi, Bujumbura
300 Cambodia, Phnom Penh

Expat Cost of Living News: How to Avoid 7 Expat Money Worries in 2011

We’re all facing financial pressure from multiple angles in 2011 – from high inflation and an increased cost of living to job insecurity and low interest rates on savings – however, there are practical steps expats can take to offset or avoid the 7 main expat money worries this year.

From high inflation to low interest rates, from rising food and energy prices to falling job security, 2011 is proving to be a tough year on a global scale for all of us.

Expats have at least as many money worries as their onshore peers; however, they also have financial advantages if they just know where to find them.  In today’s report we’re going to be discussing ways you can avoid the 7 main expat money worries in 2011, and enjoy your life living abroad to the max.

From concerns about an increased cost of living to worries about rising taxes, and from having to face job insecurity to having no state back up when it comes to your retirement income for example, expats really do have a lot on their plate when it comes to money matters in 2011.

Depending on what stage of life you’re at, how much money you have at your disposal and how many others you’re financially responsible for, different concerns will be uppermost in your mind.  In this report we’re aiming to cover the main areas of financial concern for the majority of expats…however, this report cannot be all things to all men and women, therefore, if you do have specific monetary issues or anxieties we urge you not to ignore them.

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Retiring Overseas: Was It Worth It?

Retiring 20 years ago at age 38, – Was it worth it?

It’s the Holidays, a time when it’s customary to reminisce over our lives. As we fast approach the beginning of our 21st. year of retirement, we look to the New Year and wonder what the future might bring.

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Houston - Cost of Living

Houston is the fourth-largest city in the United States and the largest city in the state of Texas.

Houston's economy has a broad industrial base in the energy, manufacturing, aeronautics, transportation, and health care sectors and is a leading center for building oilfield equipment; only New York City is home to more Fortune 500 headquarters in the city limits. The Port of Houston ranks first in the United States in international waterborne tonnage handled and second in total cargo tonnage handled.

Houston 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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Fort Worth - Cost of Living

Fort Worth is the seventeenth-largest city in the United States of America and the fifth-largest city within the state of Texas.

The Dallas-Fort Worth Metroplex as a whole has one of the largest concentration of corporate headquarters in the United States. Fort Worth was the fastest growing large city in the United States from 2000-2006.

Fort Worth 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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International Cost Of Living Index Calculation


Cost of living is the cost of maintaining a specified standard of living, similar to a typical household budget. A Cost of living index is a numerical way of comparing cost of living, either over time, or by comparing different geographical locations.


 


When you relocate to another geographic location, the cost of everything you spend your salary on will either cost more or less. Some of the costs may be higher in the new location and some of the costs may be lower. The difference in cost of living is typically reported as a “cost of living index.


 


By selecting the appropriate costs that you will have to pay from your salary, you can use a tool such aswww.xpatulator.com to calculate the cost of living difference between 2 locations. Xpatulator uses 13 basket groups, the result of extensive research of actual spending habits, to reflect a reality-based international expenditure pattern. The basket groups are weighted according to Expatriate expenditure norms.


 


When comparing the cost of living between 2 locations the difference in the aggregate cost of all the selected basket groups are examined in each location using the average reported price in each location for the same quantity of each item. Cost of living is the relative differential in the local cost of the basket groups and the ruling exchange rate between the 2 selected locations.


 


When comparing the cost of living between different locations the objective is to calculate the difference in the cost of living expressed as an index (e.g. dividing the cost of living in Location A by the cost of living in Location B may result in an index of 140).


 


The cost of living index indicates the difference in the cost of living between the 2 locations. In the above example the index of 140 means that Location A is 40% more expensive than Location B. This would mean that a person who moves from Location B to Location A would need to earn 40% more, to have the same standard of living in Location A as they have currently.


El Paso Texas - Cost of Living

El Paso is a city in and the county seat of El Paso County, Texas and is the sixth-largest city in Texas and the 22nd-largest city in the United States.

Manufacturing industries in El Paso include food production, clothing, construction materials, electronic and medical equipment, and plastics. Cotton, fruit, vegetables, livestock, and pecans are produced in the area. Education is a driving force in El Paso's economy. El Paso's three large school districts are among the largest employers in the area. El Paso is an important entry point to the U.S. from Mexico.

El Paso 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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Cost of Living Europe: January 2011

Europe’s most expensive cities are mostly those that are not on the Euro. The most expensive city in Europe is Geneva (ranked 4 in the world), followed by Zurich (ranked 6), making Switzerland the most expensive country in Europe. Zurich is followed by Oslo (ranked 8). Moscow is the world's 10th most expensive city (4th in Europe) followed by Vaduz in Liechtenstein. The cheapest city in Europe is Tirana in Albania (ranked 283 in the world) with a cost of living index of 61.7.

Most expensive cities in Europe (Global rank in brackets)
1. Switzerland, Geneva (4)
2. Switzerland, Zurich (6)
3. Norway, Oslo (8)
4. Russia, Moscow (10)
5. Liechtenstein, Vaduz (12)
6. Denmark, Copenhagen (14)
7. United Kingdom, London (16)
8. France, Paris (21)
9. Monaco, Monaco (22)
10.Jersey, Saint Helier (24)

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Detroit - Cost of Living

Detroit is the largest city in the U.S. state of Michigan and the seat of Wayne County.

Detroit is a major port city on the Detroit River. Detroit and the surrounding region constitute a major manufacturing center, most notably as home to the Big Three automobile companies, General Motors, Ford, and Chrysler.

Detroit 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, February 24, 2011

Expat Investment News: Tough decisions for the investors trying to make the most of their money

There are a few issues. When you deposit money in a bank, you are lending it to them, to use as they wish – they can use it as security to borrow lots more money, then they lend that out, and hopefully make a profit. But they’ve made a hash of this basic model in recent years, borrowing far too much, and lending unwisely. Banks can go bust. Make no mistake. In particular they go bust when lots of depositors try to withdraw their money because the money isn’t actually there. The bank has lent it out to someone else – banks are, in essence, a legal Ponzi scheme. When trust implodes, so does the bank.

Banks within the EU are underwritten by a Compensation Scheme, funded by the European Central Bank. Should the banking institutions fail, then savings of up to €100,000 (£84,300) are protected. This protection, however, is applicable to banks within the same group. To minimise the risk against the bank failing, it makes sense to spread capital across different banking groups.

 

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Expat Living Without Dis-ease

Health and fear are two sides of the same coin. Considering you’re an Escapeartist reader – at some stage in your life – you’ve probably entertained the thought of moving to the other side of the planet.

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Denver Colorado - Cost of Living

The City and County of Denver is the capital and the most populous city of the U.S. state of Colorado.

Denver's economy is based partially on its geographic position and its connection to some of the major transportation systems of the country. Because Denver is the largest city within 1,000 km, it has become a natural location for storage and distribution of goods and services to the Mountain States.

Denver 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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Dallas Texas - Cost of Living

Dallas is the third-largest city in Texas and the eighth-largest in the United States.

Dallas's economy is primarily based on banking, commerce, telecommunications, computer technology, energy, and transportation. The Dallas-Fort Worth Metroplex as a whole has one of the largest concentration of corporate headquarters in the United States.

Dallas 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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Expat Travel News: Ten destinations to skip in 2011

The new year breeds thousands of new top ten lists. The top places to see from the geniuses at the New York Times. The top best cruises from the cruserati at Frommers. Top bloggers with top status opining on the top new places that you should visit. Hey, we're guilty of that at Gadling too, but we have to go where the hits lead us.

Fact of the matter is though, you can have a great time in almost any destination. Find the right people, open the right bottle of wine, dig through enough piles of tourists and eventually everyone finds their comfort zone, whether in Wichita or in West Africa.

That said, there are corners of this planet that we, as well-heeled travel writers are just darn tired of. Whether it's from overexposure from the media or personal experiences, certain places just make our skin crawl, and in 2011, we're steering clear.

Bear in mind: everyone interprets a destination differently, and your experiences and opinions may be completely out of sync with ours. Take a look at Gadling blogger's top 10 destinations to skip in 2011, and contrast them with your own.

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Columbus Ohio - Cost of Living

Columbus is the capital and largest city in the U.S. state of Ohio, and the state's third largest metropolitan area, behind Cleveland and Cincinnati.

The city has a diverse economy based on education, insurance, banking, fashion, defense, aviation, food, logistics, steel, energy, medical research, health care, hospitality, retail, and technology.

Columbus 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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Cleveland Ohio - Cost of Living

Cleveland is a city in the U.S. state of Ohio and the county seat of Cuyahoga County, the most populous county in the state.

Cleveland's businesses have diversified into the service economy, including financial services, insurance, legal, and healthcare sectors, though the city's population is declining.

leveland 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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Wednesday, February 23, 2011

Chicago - Cost of Living

Chicago is the third largest city in the United States, and is the largest city in the state of Illinois and the Midwestern United States.

Chicago is home to 12 Fortune 500 companies. Chicago is a major transportation and distribution center. Manufacturing, printing and publishing, and food processing also play major roles in the city's economy. Chicago has the third largest gross metropolitan product in the USA.

Chicago 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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Charlotte NC - Cost of Living

Charlotte is the largest city in the state of North Carolina and the seat of Mecklenburg County.

Charlotte has become a major U.S. financial center and is now the second largest banking center in the United States (after New York). The nation's largest financial institution by assets, Bank of America, calls the city home. The center city/uptown area of Charlotte has seen remarkable growth over the last decade. Numerous residential units continue to be built uptown, including over 20 skyscrapers either under construction, recently completed, or in the planning stage.

Charlotte 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 Life: Moving abroad puts huge pressure on relationships

Moving to another country can drastically affect the relationship between a couple, new research suggests. While the person with the job spends much of their time trying to get settled in their new workplace, Ms Erp said, the partner finds themselves left alone, either working in a job they dislike, or staying at home. In the latter case, they often find themselves picking up more of the chores and responsibilities which may previously have been shared, leading to a sense of injustice.

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Boston Mass - Cost of Living

Boston is the capital and largest city of the Commonwealth of Massachusetts, and is one of the oldest cities in the United States.

Boston's colleges and universities have a major impact on the city and region's economy. Boston's schools are major employers and attract high-tech industries to the city and surrounding region. Boston is home to a number of technology companies and is a hub for biotechnology.

Boston 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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Expat Education News: Bored with moving schools? It’s time to board

Apple Gidley examines the opportunities which boarding schools can offer to expat teenagers.

School’s back from summer - school’s back forever. Well maybe not quite forever, but that’s what the start of a new school year feels like for many children. That sense of a permanent routine. But those are the ones going back to school with friends they know and have grown up with from kindergarten.

Spare a thought for those children who at the end of the last school year knew they would be moving on – again. Following their parents to a new location – again. Starting a new school – again. Education is consistently listed as one of the most stressful aspects for a globally mobile family. To board or not to board, that is the question most often agonised over. It is an emotive issue, with no hard and fast answer. Add to the mix the cultural divergences between countries, and within countries, and you have a crucible of opinions.

 

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Tuesday, February 22, 2011

China Expatriate Annual Income Tax Reporting for 2010

Individuals residing in China are subject to individual income tax (IIT). Expatriates who are employed in China are liable for IIT from either the first day they arrive in China or their first official working day. Be aware that the China Tax Bureau may take the arrival date as the trigger point for tax liabilities. They must file a monthly tax return as well as an additional annual return. Penalties for late filing can be up to five times the amount that was due.

Tax liabilities of foreigners generally depend on the period of time an individual spends in China and the source of income. Individuals who spend less than 90 days in one calendar year in China are exempt from IIT if the employment income is paid by an overseas entity.

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Austin Tex - Cost of Living

Austin is the capital of the U.S. state of Texas and the seat of Travis County.

Austin is considered to be a major center for high tech. Thousands of graduates each year from the engineering and computer science programs at The University of Texas at Austin provide a steady source of employees that help to fuel Austin's technology and defense industry sectors. Austin is also emerging as a hub for pharmaceutical and biotechnology companies.

Austin 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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