“As the global economy has become increasingly interconnected, close to 75 percent of multinational organizations are expecting long-term expatriate assignments to remain stable or increase over the next two years to address business needs,” said Ilya Bonic, senior partner and president of Mercer’s Talent business.
The world’s largest human resources consulting firm, New York City-based Mercer Mercer is a subsidiary of global professional services firm Marsh & McLennan.
Mercer’s Cost of Living survey helps multinational companies and governments determine how much they should pay their expat employees, the company said.
The survey includes 207 cities in five continents and measures the comparative cost of more than 200 items in each location including housing, transportation, food, clothing, household goods, and entertainment.
“Aligning workforce and mobility strategies by ensuring the right employees are in the right places is more critical than ever to manage globalization,” Bionic said. “Properly compensating employees on international assignments is as important as it is costly.”
Several cities in Africa rank among the most expensive, reflecting high living costs and high prices of goods for expats. Luanda (No. 1) remains the most costly city in Africa and the world, followed by N’Djamena (No. 10), Victoria (No. 17), and Libreville (No. 30).