According to a recently published report on an annual “Cost of Living” survey by Mercer, Nigeria ranked as the fourth most expensive city in Africa. The most expensive city in Africa is N’Djamena in Chad while Tunis in Tunisia ranks as the least expensive city in the region and globally.
Some of the factors used in carrying out the survey include Food, housing, utilities, domestic supplies, transportation, personal care, recreation and entertainment, clothing and footwear, home services, alcohol and tobacco.
The survey includes over 500 cities throughout the world; this year’s ranking includes 209 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.
New York City is used as the base city for all comparisons, and currency movements are measured against the US dollar.
“Cost of living is an important component of a city’s attractiveness for businesses,” said Yvonne Traber, Global Mobility Product Solutions Leader at Mercer. “Decision makers increasingly acknowledge that globalization is challenging cities to inform, innovate, and compete to foster the kind of satisfaction that attracts both people and investment – the keys to a city’s future.”
“Cost of living is an important component of a city’s attractiveness for businesses,” said Yvonne Traber, Global Mobility Product Solutions Leader at Mercer. “Decision makers increasingly acknowledge that globalization is challenging cities to inform, innovate, and compete to foster the kind of satisfaction that attracts both people and investment – the keys to a city’s future.”
Hong Kong ranks as the most expensive city in the world. The top ten list is shown below.
See the full ranking here.
