Tuesday, August 16, 2016
The Most Expensive Countries in the World for Expatriate Professional Migrants August 2016
The top ten most expensive countries in the world comprise three from Africa (Angola) (1); Democratic Republic of the Congo (5); Eritrea (7)), three from Europe (Norway (2); Switzerland (3); Denmark (8)), and four from America (Bermuda (4); Cayman Islands (6); Barbados (9); Bahamas (10)). Angola is the most expensive city in the world for expatriate professional migrants mainly because almost all international standard goods and services have to be imported and due to the lack of infrastructure there are price premiums due to demand exceeding supply. The lower oil price and consequent dramatic reduction in revenue to Angola in 2016 has seen prices remain extremely high, largely as a result of the weaker Angolan Kwanza (down approximately 40% against the US Dollar in the past year) making imports extremely expensive.