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.
Norway has long been very expensive and interestingly is the only oil-producing country with high gas prices. High levels of taxation are applied to convince Norwegians to keep their cars at home and use public transportation instead. Almost everything in Norway is expensive compared to other countries.
The top ten most expensive countries in the world as at July 2018 comprise two from Africa Angola (1); Central African Republic (7), three from Europe Norway (2); Switzerland (3); Denmark (5), four from America Bermuda (4); Cayman Islands (6); Montserrat (9); Bahamas (10), and one from Asia Pacific Japan(8).
Angola is the most expensive country in the world while Luanda is the most expensive city in the world for an expatriate professional migrant to live in. Singapore is the most expensive city in the Asia-Pacific region for expatriates (2nd most expensive in the world), while Hong Kong is the 2nd most expensive city in Asia-Pacific and is 3rd most expensive city in the world as at July 2018.
The secret to moving is to compare your expat salary offer with the cost of living.
Take all aspects into account. At the end of the day although it may be an exciting adventure and a great learning opportunity, what you will earn, will determine the school, home, medical facilities and entertainment you will be able to afford. Your emotional stability and happiness in the new location are linked, like it or not, by how much money is sitting in your bank account.
Compare expat personal employment marginal income tax rates for every country worldwide:
Afghanistan is progressive up to 20%.
Albania is progressive up to 23%.
Algeria is progressive up to 35%.
Andorra is 10%.
Angola is progressive up to 17%.
Anguilla is 0%.
Antigua and Barbuda is 0%.
Argentina is progressive up to 35%.
Armenia is progressive up to 36%.
Aruba is progressive up to 58.95%.
Austria is progressive up to 55%.
Australia is progressive up to 45%.
Azerbaijan is progressive up to 25%.
Bahamas is 0%.
Bahrain is 0%.
Bangladesh is progressive up to 30%.
Barbados is progressive up to 33.5%.
Belarus is a flat rate of 13%.
Belgium is progressive up to 50%.
Belize is a flat rate of 25%.
Benin is progressive up to 35%.
Bermuda is 0%.
Bhutan is progressive up to 25%.
Bolivia is a flat rate of 13%.
Bosnia and Herzegovina is a flat rate of 10%.
Botswana is progressive up to 25%.
Brazil is progressive up to 27.5%.
British Virgin Islands is 0%
Brunei is 0%.
Selected latest available inflation rates for all countries world wide (as available on 3 May 2018). For all countries click on the link:
21.47% for Angola as at March 2018
25.4% for Argentina as at March 2018
1.9% for Australia as at March 2018
2.3% for Canada as at March 2018
-0.5% for Cyprus as at March 2018
15.2% for Ethiopia as at March 2018
1.6% for France as at April 2018
6.6% for Kazakhstan as at March 2018
6.7% for Mauritius as at March 2018
1.1% for New Zealand as at March 2018
3.8% for South Africa as at March 2018
161.2% for South Sudan as at March 2018
13.2% for the Ukraine as at March 2018
3.4% for the United Arab Emirates as at March 2018
2.5% for the United Kingdom as at March 2018
8,900% for Venezuela as at March 2018
2.75% for Vietnam as at April 2018
2.68% for Zimbabwe as at March 2018
Jerusalem in Israel is the most expensive city for expats in the Middle East as at April 2018, followed by Doha in Qatar.
Luanda in Angola 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).
Notably, no city in the Middle East is ranked in the top 10 most expensive cities in the world.
Luanda is the most expensive city to live in the African region, and world-wide as at April 2018 and is likely to get more expensive before it gets cheaper. In Africa, Luanda is followed by Bangui in the Central African Republic, and Freetown in Sierra Leone.
Growth in Angola 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.