Mercer has released its 26th annual Cost of Living Survey. It is one of the world’s most comprehensive list designed to help multinational companies and governments determine compensation strategies for their expatriate employees.
According to Mercer’s 2020 Cost of Living Survey, Hong Kong tops the list of most expensive cities for expatriates. The research was conducted in March 2020 just when the coronavirus pandemic had hit most parts of 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.
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The survey also shows that the cost of goods and services shift with inflation and currency volatility making overseas assignment costs sometimes greater and sometimes smaller.
Career President and Head of Mercer Strategy, Ilya Bonic, said: “Border closings, flight interruptions, mandatory confinements, and other short-term disruptions have affected not only the cost of goods and services, but also the quality of living of assignees.”
Here are the 2020 most expensive cities in Africa: