What city is the most expensive in the world? On June 21, 2017, Mercer’s annual Cost of Living Survey was released. The study shows that African, Asian, and European cities dominate the list of most expensive locations for working abroad.
Mercer's authoritative survey is one of the world’s most comprehensive, and is designed to help multinational companies and governments determine compensation allowances for their expatriate employees.
New York is used as the base city and all cities are compared against it. Currency movements are measured against the US dollar.
Lagos is No 29 on the list.
The survey includes over 400 cities across five continents and measures the comparative cost of more than 200 items in each location, including housing, transportation, food, clothing, household goods, and entertainment.
NAIJ.com has compiled a list of 10 top cities below:
1. Luanda, Angola
Luanda, the capital of Angola, is a port city on the west coast of Southern Africa. A seafront promenade known as the Marginal runs alongside Luanda Bay.
2. Hong Kong, China
Hong Kong is an autonomous territory, and former British colony, in southeastern China. Its vibrant, densely populated urban centre is a major port and global financial hub with a skyscraper-studded skyline.
3. Tokyo, Japan
Tokyo is Japan’s busy capital, mixes the ultramodern and the traditional, from neon-lit skyscrapers to historic temples. The opulent Meiji Shinto Shrine is known for its towering gate and surrounding woods.
4. Zurich, Switzerland
The city of Zurich, a global center for banking and finance, lies at the north end of Lake Zurich in northern Switzerland.
Singapore, an island city-state off southern Malaysia, is a global financial center with a tropical climate and multicultural population.
6. Seoul, South Korea
Seoul, the capital of South Korea, is a huge metropolis where modern skyscrapers, high-tech subways and pop culture meet Buddhist temples, palaces and street markets.
7. Geneva, Switzerland
Geneva is a city in Switzerland that lies at the southern tip of expansive Lac Léman (Lake Geneva). Surrounded by the Alps and Jura mountains, the city has views of dramatic Mont Blanc.
8. Shanghai, China
Shanghai, on China’s central coast, is the country's biggest city and a global financial hub. Its heart is the Bund, a famed waterfront promenade lined with colonial-era buildings.
9. New York, United States
New York City comprises 5 boroughs sitting where the Hudson River meets the Atlantic Ocean. At its core is Manhattan, a densely populated borough that’s among the world’s major commercial, financial and cultural centers.
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10. Bern, Switzerland
Bern, the capital city of Switzerland, is built around a crook in the Aare River. It traces its origins back to the 12th century, with medieval architecture preserved in the Altstadt (Old Town).
Watch this NAIJ.com video of a special project taking place in Lagos, Nigeria: