Mercer is the leading provider of data on cost of living and housing for employees sent to work abroad. As part of the ongoing research, Mercer released the annual rankings of the cost of living in more than 200 of the most prevalent assignment destinations for expatriate employees. The rankings demonstrate how currency fluctuation and shifts in the prices of goods and services can affect the purchasing power of expatriate employees. Multinational companies rely on Mercer for timely and accurate information to compensate their skilled professionals who take on international assignments.
1. N'djamena, Chad
N'Djamena, has an estimated population of just under 1 million. Only 26% of the country's people live in urban areas. It ranks 11th on the global scale. Chad has an unevenly distributed population, with the highest density in the Logone Occidental Region and the capital, raising the cost of housing. Essentially, the vast majority of Chad's land mass is covered by Sahara desert and insecurity around lake Chad has forced many to the capital city.
2. Victoria, Seychelles
Economic growth in Seychelles has moved the tourist destination country to upper-middle-income status. Victoria is 14th costliest city in the world. High cost of goods and services in its capital city Victoria is largely due to the in flock of tourists who flood the tiny Island who purchase items without stiff competitions in a regulated economy. In Victoria, you are likely going to be charged based on the dollar rate, hence poor purchasing power.
3. Kinshasa, DRC
The capital city of the East African country is 22nd on the list making it the third on the continent. The city's population is estimated around 11.8 million. Economists project growth of 4.7% in 2019, which is up 0.1 percentage points from last month’s forecast, and 4.8% in 2020.
4. Liberaville, Gabon
The city ranks 24th on the list and like many other countries the double-digit inflation for a predominantly rural population makes the capital difficult for dwellers.
5. Lagos, Nigeria
With a population of 24 million, Lagos is fast becoming a cosmopolitan city, yet with features of shanty towns. Housing and poor urban planning and management, as well as, high population density makes life expensive. To live like a middle class, you need more than just a job. The concentration of industries has also made the city the last resort for individuals seeking greener pastures away from the hinterlands.
Header Image Credit: African Exponent File