DURBAN - Luanda, the capital of Angola, is the most expensive city the world for expatriates.
The Angolan capital has appeared in the ECA International global ranking so the top five most expensive cities since 2012.
Production Manager Steven Kilfedder said, "The cost of goods typically purchased by international assignees in Luanda, which was already high due to poor infrastructure and high oil-fuelled demand, continues to be pushed even higher".
The Angolan currency, the kwanza, is being overvalued which increases related costs while the continuing instability of the black market exchange rate has also pushed up the price of goods that are imported.
According to the BBC, the expensive costs for expatriates in Luanda is affected by the price of secure accommodation and everyday goods. The price of renting a three bedroom that is not furnished in an appropriate neighbourhood according to international standards can cost more than $10 000.
The rest of the top five most expensive global locations include Khartoum, Zurich, Geneva and Basel.
Khartoum in Sudan ranks in number two on the list of the most expensive cities in the world.
This can be attributed to currency shortfalls and increasing prices continue to have an impact on the African country.
Cost of living indicators is used by ECA clients to work out the cost of living allowances for recipients. This survey covers various factors including food such as groceries and dairy products to general things like clothing and electrical items.
ALSO READ: Mail & Guardian assumes new ownership
- BUSINESS REPORT ONLINE