On the other hand, companies must strike a delicate balance between controlling their costs while struggling to attract and retain talent.
The amount of money needed to pay for day-to-day expenses like housing and food varies significantly from city to city. And some cities, like Lagos, Nigeria, are known as costly places to live.
So how do everyday expenses in New York City truly compare in costs to places like Yaounde or Dakar?
The Cost of Living Index
Mercer’s Cost of Living Survey provides employers with extensive and reliable data to help them navigate compensation strategies for their mobile employees in the unpredictable global markets.
Based on the latest research, Hong Kong tops Mercer’s 2022 Cost of Living City Ranking, followed by Zurich and Geneva, while Ankara closes the ranking at the 227th spot.
In Africa, Bangui, the Central African Republic, is widely recognised as one of the most expensive cities in the region, followed by Libreville, Gabon, and Victoria, Seychelles.
Should you be planning a move this year, here are the top 10 African cities with the highest cost of living, according to Mercer:
- Bangui – CentralAfrican Republic
- Libreville – Gabon
- Victoria – Seychelles
- Djibouti – Djibouti
- Kinshasa – The Democratic Republic Of The Congo
- Lagos – Nigeria
- Luanda – Angola
- Dakar – Senegal
- Abidjan – Côte D’Ivoire
- Brazzaville – The Republic Of Congo