Lagos, Nigeria Tagged As The 4th Most Expensive City In Africa

Must Read

List of Guaranty Trust Bank Sort Codes & Branches (with addresses) in Nigeria

The sort code is a number which usually identifies both the bank and the branch where an account is...

Midea Showrooms And Stores In Nigeria

If you’ve been wondering where Midea showroom and stores are in Nigeria below is a list of Showrooms and...

TAJBank Launches Nigeria’s 2nd Non-Interest Financial Institution (Photos)

Abuja Nigeria   December 2nd 2019, TAJBank, Nigeria’s second Non –Interest financial institution, has announced the launch of its services...
- Advertisement -
- Advertisement -

In contrast with other cities in the world, Lagos, Nigeria advances to live attractive for foreign investments notwithstanding being one of the most valuable in Africa. Mercer’s 25th yearly Cost of Living Survey affirms that a number of circumstances, including currency variations, cost of inflation for goods and services, and volatility in accommodation rates, added to the overall cost of expatriate packages for employees on international assignments.

Lagos, Nigeria is the 25th most expensive city in the world. Having moved up seventeen places from last year’s ranking, Nigeria’s commercial hub is one of Mercer’s top 5 costliest cities in Africa. Kinshasa, Dem. Rep. of Congo (22) is in second place, rising fifteen places. Libreville, Gabon (24) is the next African city on the list, followed by Lagos, Nigeria (25). Despite dropping about 20 places, Luanda, Angola (26) still remains in fifth place.

“Each African country has its own unique economy and this is why multinationals need not approach their expatriate packages for Africa with one single strategy. Let’s look at it this way, while a city like N’Djamena in Chad has been listed as the 11th most expensive city in the world, whereas Mali comes in at the 124th position in terms of cost of living,” said Yolanda Sedlmaier, Principal Leader – Africa Mobility at Mercer.

Read:  Oxfam Pledge Federal Government To Hasten Up On New Tax Policy

Lagos, Nigeria Tagged As The 4th Most Expensive City In Africa

Global ranking

Mercer’s 2019 Cost of Living Survey finds that eight out of the top ten of the world’s most expensive cities for expatriates are Asian cities, resulting from high costs for expatriate consumer goods and a dynamic housing market. Tokyo (2), Singapore (3) and Seoul (4) top the list, while the costliest city in the world for the second consecutive year in Hong Kong (1). Other cities appearing in the top ten are Zurich (5), Shanghai (6), Ashgabat (7), Beijing (8), New York City (9), and Shenzhen (10). The world’s least expensive cities for expatriates are Tunis (209), Tashkent (208), and Karachi (207).

Read:  MultiChoice Wins ‘Outstanding Satellite TV Brand of the Year’
Read:  KANTAR MILLWARD BROWN EXPANDS IGNITE IN US

Mercer’s widely recognized survey is one of the worlds most comprehensive and is designed to help multinational companies and governments determine compensation allowances for their expatriate employees. New York City is used as the base city for all comparisons, and currency movements are measured against the US dollar. The survey includes over 500 cities throughout the world; this year’s ranking includes 209 cities across five continents and measures the comparative cost of more than 200 items in each location, including housing, transportation, food, clothing, household goods, and entertainment.

Mercer produces individual cost of living and rental accommodation cost reports for each city surveyed. For more information on city rankings, visit https://mobilityexchange.mercer.com/Insights/cost-of-living-rankings.

- Advertisement -

Subscribe to BrandSpur Ng

Subscribe for latest updates. Signup to best of brands and business news, informed analysis and opinions among others that can propel you, your business or brand to greater heights.

LEAVE A REPLY

Please enter your comment!
Please enter your name here

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Latest News

Nestlé USA launches meatless pizza and lasagna with Sweet Earth Awesome Grounds

Meatless is going mainstream, as two of America's beloved brands are getting even more awesome. Nestlé is launching new...

Japan’s Food Business Giant Watami Deploys Infor Cloud ERP for Business Standardization and Decision-making

Multi-tenant cloud solution includes data-driven management BI for costings and production planning TOKYO, JAPAN - Media OutReach - 5 December 2019 - Infor, a global leader in...

Chart of The Week: Global Carbon Emissions Are On The Rise Again

After good progress at the beginning of the decade, global carbon emissions have started to pick up again. This recent trend sets the world on...

Taraba Launches Highland Tea In Lagos Market

The Mambilla Beverages Nigeria Limited, a subsidiary of the Taraba Investment and Properties Limited (TRIP) has unveiled Highland Tea and Green Tea, launching it...

More Articles Like This