The cost of living for expatriates / professional migrants in Singapore as at 1 April 2018 is very high in comparison to other places in the world.
Singapore remains the second most expensive city in the Asia-Pacific region for expatriates (3rd most expensive in the world) and tops the region rankings when costs related to housing, education, medical and transport are excluded. 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 among the highest in the world.
Hamilton in Bermuda is the most expensive location in the Americas as at April 2018, in 7th place globally; this is due to the high price of property and the fact that most items have to be transported to Bermuda adding a great deal to the cost of expatriate items.
New York (Manhattan) NY is the second most expensive location in the Americas, the most expensive city in the USA in 9th place worldwide, this is mainly due to the highly priced rental property market.
The second most expensive city in the USA is San Jose CA ranked 3rd in the region.
The latest available inflation rate for all countries world wide (as available on 3 April 2018):
3.1% for Afghanistan as at November 2017.
2.1% for Albania as at February 2018.
3.01% for Algeria as at January 2018.
21.47% for Angola as at February 2018.
3.1% for Anguilla as at 2014.
1.4% for Antigua and Barbuda as at 2012.
25.4% for Argentina as at February 2018.
3.3% for Armenia as at February 2018.
1.1% for Aruba as at January 2018.
1.9% for Australia as at December 2017.
1.8% for Austria as at February 2018.
4.7% for Azerbaijan as at February 2018.
1.8% for the Bahamas as at December 2017.
3.1% for Bahrain as at February 2018.
5.83% for Bangladesh as at December 2017.
3.4% for Barbados as at July 2017.
4.9% for Belarus as at February 2018.
1.39% for Belgium as at March 2018.
0.9% for Belize as at January 2018.
0.9% for Benin as at January 2018.
1.7% for Bermuda as at April 2017.
3.96% for Bhutan as at December 2017…
April 2018 international expat cost of living comparison rankings for world cities and countries.
The top ten most expensive countries in the world as at April 2018 comprise two from Africa Angola (1); Central African Republic (7), three from Europe Norway (2); Switzerland (4); Denmark (6), four from America Bermuda (3); Cayman Islands (5); Bahamas (9); Montserrat (10), and one from Asia Pacific Japan (8).
Angola is the most expensive country in the world for expatriate professional migrants mainly because almost all international standard goods and services have to be imported, as a result there are price premiums due to demand constantly exceeding supply. The extremely costly safe expatriate accommodation, imported produce and costly international private schooling are among the main factors that have kept Angola at the top of the world rankings. A rented house in a guarded community (recommended due to the threat of violent crime) can cost between US$8 000 and US$12 000 per month.
Angola is unbelievably expensive, and it will get more expensive before it gets cheaper. Here is why.
Angola looks to a brighter future. The new President, Joao Lourenco, has vowed to revive the economy, attract investment and combat the endemic corruption, and he is acting fast. In January 2018 the Kwanza peg to the US Dollar, ended, immediately devaluing the currency. Rather than being pegged to the US Dollar the Kwanza is now a “managed float”. The result is that while shortages may be somewhat alleviated, the price of imported goods for expatriates in Angola has risen on the back of already very high prices which can be seen in the inflation rate of over 20% per year.
However, the medium-term outlook for Angola is for a recovery in economic activity. Growth should reach 5 percent in the medium-term according to Ricardo Velloso, IMF division chief for Africa. This will likely further increase the demand for premium skills, goods and services, which are already in short supply. To meet the demand for high-level skills there will be an increase in the number of expatriates deployed in Angola in the coming years to help build infrastructure and expand oil production and related industries and services. In the short-term, we expect higher demand for expatriate premium goods and services in Angola to lead to higher prices on top of the already high prices for imported goods and services. Do not expect Angola to drop out of the most expensive places list anytime soon. The good news is that over the long-term, as the infrastructure improves and the reliance on imports reduces, the availability of quality goods and services will improve which will contribute to Angola becoming more affordable in global terms.
Luanda is the most expensive city in the world for an expatriate professional migrant to live in as at April 2018, followed by Hong Kong and Singapore. The top ten most expensive cities in the world comprise two from Africa, Luanda (1); Bangui (10), three from Asia-Pacific, Hong Kong (2); Singapore (3); Tokyo (8), three from Europe, Zurich (4); Oslo (5); Geneva (6), and two from America, Hamilton (7); Manhattan NY (9).