For decades Zimbabwe’s policies have destroyed the economy and the livelihoods of Zimbabweans, including hyperinflation that eventually led the country to ditch its worthless sovereign currency in favour of the United States dollar. In June 2019 year the government stopped the use of US dollars in local transactions. This change was in order to prepare for a next-generation Zimbabwean dollar. The impact has been severe, with prices out of control. Wage purchasing power has plummeted due to food and fuel prices soaring. Foreign currency shortages have got even worse than before. The inflation rate (CPI) hit 480.7% in November 2019. As a result there is increasing unrest, marches and protests as people battle to survive the crisis. As at January 2020 Harare has become the most expensive city to live in due the current economic crisis.
#Hong-Kong is the most expensive city in the world in 2019, followed by #Singapore and #Monaco. The biggest changes this year was #Harare in #Zimbabwe moving into the top 10 and #Luanda in #Angola dropping out. For more
Compared to New York, the equivalent cost in Johannesburg is as follows:
1) Alcohol (where available) & Tobacco: for items such as beer, spirits, wine and tobacco related products such as cigarettes. A basket costing USD$1000 in New York costs USD$490
2) Clothing: for items such as business, casual and children’s clothing and footwear. A basket costing USD$1000 in New York costs USD$700
3) Communication: for various communication costs such as home telephone rental, internet subscription, mobile service provider tariff and data costs. A basket costing USD$200 in New York costs USD$256
4) Education: for items such as creche / pre-school fees, primary school fees, high school fees and tertiary study fees. A basket costing USD$30000 in New York costs USD$17400
5) Furniture & Appliances: for items such as dining table and chairs, home entertainment, kitchen appliances, and sofas. A basket costing USD$2500 in New York costs USD$2100
6) Groceries: for items such as consumables, cleaning prod
Hong Kong is the most expensive city in the world for an expatriate professional migrant to live in as at July 2019, followed by Singapore and Monaco.
Hong Kong is the most expensive city due to the very high cost of housing and healthcare, as well as the strong Hong Kong dollar which is fixed against the US Dollar.
Singapore’s education system, which is widely regarded as the best in the world, is also the most expensive for expatriates when priced in US Dollars, the cost of housing is also extremely high due to the limited space and premium on high quality expatriate accommodation, while the complex Certificate of Entitlement system makes car prices excessive, resulting in Singapore’s transport costs being amongst the highest in the world.
This quarterly survey by Xpatulator.com of cost of living world-wide is based on expatriate professional migrant spending as opposed to local people’s spending. The difference between these two groups is that an expatriate professional migrant tends to pay a premium for “international” brands ideally from their home country, and they tend to make use of premium service providers such as up-market medical practices, international schools, and most prefer to live in exclusive, secure accommodation in order to maintain the quality of life to which they are accustomed back home. The survey covers over 200 items grouped into 13 cost of living baskets. The cost of living information is used by Xpatulator.com subscribers to calculate cost of living differences between global home and host locations for expatriate professional migrants. Cost of living differences are key to calculating expatriate pay for international assignments.
The latest available inflation rate for all countries world wide (as available on 12 July 2019).
Some highlights include:
57.3% for Argentina as at May 2019
-0.2% for Cyprus as at June 2019
50.4% for Iran as at June 2019
15.72% for Turkey as at June 2019
1.6% for the United States as at June 2019
282972.8% for Venezuela as at April 2019
8.6% for Zambia as at June 2019
97.85% for Zimbabwe as at May 2019
The latest available inflation rate for all countries world wide (as available on 14 June 2019). Some highlights include:
17.14% for Angola as at May 2019
55.8% for Argentina as at April 2019
2.7% for China as at May 2019
51.4% for Iran as at April 2019
-0.7% for Qatar as at May 2019
4.4% for South Africa as at April 2019
-2.1% for the United Arab Emirates as at April 2019
2.1% for the United Kingdom as at April 2019
1.8% for the United States as at May 2019
1304494% for Venezuela as at April 2019
The highs and lows of the latest available inflation rate for all countries world wide (as available on 8 March 2019):
2688670% for Venezuela as at January 2019.
56.9% for Zimbabwe as at January 2019.
55% for North Korea as at July 2013.
48.9% for Argentina as at January 2019.
43.45% for the Sudan as at January 2019.
-1.9% for Saudi Arabia as at January 2019.
-2.4% for the United Arab Emirates as at January 2019.
-3.6% for Somalia as at December 2016.
-3.8% for Burundi as at January 2019.
-4.5% for Libya as at December 2018.