Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
Luanda, the capital of Angola, has regained top spot as the world's most expensive city for expats, pushing Hong Kong back into second place.
The claim is made in the 23rd annual cost-of-living survey carried out by the advisory firm Mercer.
Tokyo, Zurich and Singapore comprise the rest of the top five. Angolan capital 'most expensive city for expats' - BBC News
I believe a major factor is a massive shortage of housing, and with the country being a major oil exporting country is attracted big overseas oil companies. Anyone here been to Luanda?
Luanda, the capital of Angola, has regained top spot as the world's most expensive city for expats, pushing Hong Kong back into second place.
The claim is made in the 23rd annual cost-of-living survey carried out by the advisory firm Mercer.
Tokyo, Zurich and Singapore comprise the rest of the top five. Angolan capital 'most expensive city for expats' - BBC News
I believe a major factor is a massive shortage of housing, and with the country being a major oil exporting country is attracted big overseas oil companies. Anyone here been to Luanda?
That's not surprising. At one time or another, Lagos (Nigeria), and Caracas (Venezuela) were among the world's most expensive cities for expats during the oil boom of the 1970s. Of course these cities have also fallen on hard times when the price of petroleum dropped.
That's not surprising. At one time or another, Lagos (Nigeria), and Caracas (Venezuela) were among the world's most expensive cities for expats during the oil boom of the 1970s. Of course these cities have also fallen on hard times when the price of petroleum dropped.
However corruption and incompetent government was a factor as well. Venezuela is one of the most corrupt countries in the world.
I live in Portugal. I have read newspaper articles about the high cost of living in the former colony of Angola, and very small number of ex-colonials who when back for a a trip reported the same. Outrageous costs.
However corruption and incompetent government was a factor as well. Venezuela is one of the most corrupt countries in the world.
Corruption is only part of the problem and is a symptom rather than a root cause. The bigger problem is about economic dependence on the boom economic sector and failure to diversify from it.
You can look at the boom/bust cycle of North Dakota - with the same sort of issues
Corruption is only part of the problem and is a symptom rather than a root cause. The bigger problem is about economic dependence on the boom economic sector and failure to diversify from it.
You can look at the boom/bust cycle of North Dakota - with the same sort of issues
That is true and Russia also suffers from this issue as well.
I've read about Luanda, Angola and I've seen that like 1/3 of their population lives in slums surrounding the city. That city is extremely expensive for locals, if for expats who usually come with international companies and high wages is expensive, now imagine for a local. It's crazy to see how the most expensive city in the world is in one of the poorest countries in the world, it makes you think how unfair is life.
These polls also work in regards to how hard it is for an expat to live a comparable lifestyle abroad as they would at home. Meaning that if they want to have peanut butter, the costs take into factor how much it costs to have peanut butter exported to Angola, and to have available to expats. Same thing for their cars and electronics and everything else.
If you are in say, Asia, they already make the electronics and cars and such and probably have enough traveler types, that peanut butter is going to be lower priced, to meet demands of westerners who might find themselves working in Asia.
You take a place like Luanda, which doesn't have tourist infrastructure or tourist demands to have any economies of scale. So, for you to provide peanut butter or cars or electronics, it's going to cost a lot to get it to Angola. As opposed to somewhere like Kenya, which would have enough foreigners and tourists alike, to warrant having your western amenities.
So, what happens in places like Angola, is for that American corporate expat to have the same lifestyle, it's going to cost a lot more to have stuff imported there. You also tie into 'security', and the costs go up again. An expat can't just live anywhere they want, unlike say Bangkok. They are going to have to have security, probably provided by the company again, which makes more of the costs go up. In short, it just goes on and on. So these 'suddenly rich places with a demand for foreigner know-how, but lacking almost everything else for foreigners, they are going to be quite expensive to provide that 'comparable lifestyle' as back home.
Angola is the perfect storm for that. Also, take in mind, that regardless if Angola has peanut butter or not, the locals aren't all trying to buy it. But, I do think a bunch of western expats trying to live western lifestyles, among an otherwise poor population where that lifestyle isn't going to happen for them. That's a bit of a recipe for disaster. Which is probably why a ton of locals are trying to overcharge for basic things that shouldn't otherwise be so expensive in such a place.
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.
Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
