Slumping Pound Boosts Expat Pay In the UK

The Brexit effect of the falling pound has seen British cities plunge down the rankings in the latest list of the most expensive places to live in the world.

London has traditionally sat near the top of the rankings, but has even fallen out of the top 100.

The city is now the 103rdmost expensive place to live, mainly due to the price of the pound plummeting against other major currencies since the Brexit referendum in June 2016.

Other British cities have also tumbled down the ratings – such as Cardiff (162), Belfast (169) and Edinburgh (151).

The list looks at the prices of a standard basket of goods and services in 450 places worldwide.

Tokyo most expensive world location

The data helps international employers and expat assignees set the cost of living allowance included in their pay.

Tokyo is the most expensive city for expats, returning to the top spot for the first time in four years.

African locations like Luanda. Angola, and Kinshasa in the Democratic Republic of the Congo are in the top 20 mainly because of the cost of transporting Western consumer items to remote areas.

Zurich, Switzerland is the most expensive European city, followed by the other Swiss cities of Geneva, Basel and Bern.

Global Top 20 – Most expensive places for expats

Rank Location Country 2015 rank
1 Tokyo Japan 12
2 Luanda Angola 5
3 Zurich Switzerland 1
4 Geneva Switzerland 2
5 Yokohama Japan 27
6 Basel Switzerland 4
7 Nagoya Japan 28
8 Bern Switzerland 3
9 Osaka Japan 36
10 Kinshasa Democratic Republic of The Congo 6
11 Hong Kong China 9
12 Seoul South Korea 10
13 Shanghai China 7
14 Oslo Norway 11
15 Beijing China 8
16 Singapore Singapore 18
17 Busan South Korea 25
18 Tashkent Uzbekistan 33
19 Tel Aviv Israel 20
20 Stavanger Norway 17

Source: ECA International