Oslo the most expensive city for expats

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Oslo the most expensive city for expats

Thanks to the high strength of the Norwegian Krone Oslo has become the most expensive city in the world for Expats, knocking Japan’s Tokyo off of the top spot.

According to the organization Employment Conditions Abroad (ECA) carries out two Cost of Living Surveys each year to aid companies calculate the allowances necessary to ensure that their employees maintain their purchasing power when working abroad.

Norway has long been renowned for its high prices and previous ECA surveys have ranked Oslo as the most expensive capital city in Europe, this time however is the first time that the city has achieved the ranking of first place. In 2009 it was listed seventh.

The increasing value of the Krona has been the main contributor to the hikes in living costs as the country’s huge revenues from oil exports have boosted the

Norwegian economy.

“Norway has among the highest standards of living in the world, largely derived from its oil revenues,” the survey said. “While prices there have increased little in the last year, the free floating Norwegian Krone has remained strong, reflecting the country’s relative economic resilience.”

Due to hikes in living costs there are now four African cities listed in the top 20 most costly expat destinations with Angola’s Luanda in second place. Sudan’s Juba, Brazzaville in the Congo and Kinshasa in the Democratic Republic of Congo are the others. Moscow came in fourth with another Norwegian city, Stavanger in third place.

As currencies varied in strength cities that were formerly classed the most expensive fell down the table. Portugal’s capital Lisbon is not even in the top 50 and London fell 21 places to 87th place. Following Norway as Europe’s most expensive nation is Switzerland which had four cities in the top ten. Sydney Australia fell to 17th place as the Australian Dollar begins to slide against global currencies.

Top 10 most expensive cities worldwide for international assignees

Country Location 2013 global position 2012 global position
Norway Oslo

1

2

Angola Luanda

2

4

Norway Stavanger

3

5

South Sudan Juba

4

45

Russia Moscow

5

13

Japan Tokyo

6

1

Switzerland Zurich

7

9

Switzerland Geneva

8

7

Switzerland Basel

9

11

Switzerland Bern

10

10

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