Our dear capital Oslo has been ranked as the world’s most expensive city for expats to live in. Oslo takes over from Tokyo at the top of the poll from HR consultancy firm ECA Interntional. In fact, due to the weakening Yen, the Japanese capital has tumbled to sixth.
“Tokyo may have dropped a few places, but it’s still not a cheap place to live,” says ECA Asian director Lee Quane.
“The value of the Yen falling against other currencies is definitely behind the drop and expat buying power has improved. Let’s not get carried away with the figures. Tokyo is still an expensive location and remains the most expensive destination for expats in Asia.”
“Prices in Oslo tend to be more expensive compared to other parts of the world (because of) the cost of production and labour. Services include dry cleaning, shoe repair, hair dressing – items which are more labour intensive – meals eaten out at restaurants as well. We also see the impact of taxes. For example alcohol and tobacco is relatively expensive.”
Some surprising names make up the top five:
1 – Oslo, Norway
2 – Luanda, Angola
3 – Stavanger, Norway
4 – Juba, South Sudan
5 – Moscow, Russia
Both Luanda and Juba make the list due to the scarcity of goods and services sought by expats.
The Swiss cities of Zurich, Geneva, Basel, and Bern make up the top 10, with Nordic capitals Copenhagen, Stockholm, and Helsinki placed 12th, 15th and 20th respectively.