The the latest Worldwide Cost of Living report from the Economist Intelligence Unit (EIU) has been released.
For a fifth consecutive year, Singapore has been named as the most expensive city in the world.
While last year the top 10 was dominated by cities in Asia, now five of the priciest places in the report are found in Europe, with Paris and Zurich joint-second. Oslo, Geneva and Copenhagen are fifth, joint-sixth and eighth, respectively.
Hong Kong is ranked as the fourth most expensive city, while Seoul (joint-sixth), Tel Aviv (ninth) and Sydney (10th) are also included in the list.
The top 10 most expensive cities, according to the report, are:
1. Singapore
2. (tie) Paris, France
2. (tie) Zurich, Switzerland
4. Hong Kong, China
5. Oslo, Norway
6. (tie) Geneva, Switzerland
6. (tie) Seoul, South Korea
8. Hamburg, Germany
9. Tel Aviv, Israel
10. Sydney, Australia
The survey, which is designed to help create compensation packages for expatriates and those travelling for business, measures the cost of living in 133 major cities, including comparing more than 400 individual prices across 160 products and services.
It finds that Singapore is the most expensive place to buy and run a car, while the average price for one bottle of wine ($23.68) is considerably more than in most other cities, including the majority of those within the top 10. Only Seoul ($26.54) and Tel Aviv ($28.77) were found to be more expensive.
The priciest cities for groceries
Despite topping the rankings, Singapore does offer relative value in some categories, especially compared with its regional peers, the report says.
For categories such as personal care, household goods and domestic help, Singapore remains significantly cheaper than Seoul, Hong Kong and Tokyo, which are the most expensive places in the world to buy staple goods.
In Seoul, for example, filling up a grocery basket is almost 50% more expensive than in New York, which ranks 13th in the overall list, the highest of any city in the United States.
Los Angeles, which ranked 14th overall, is the next most expensive US city, down from 11th last year. Indeed, US cities have become comparatively cheaper thanks largely to the dollar weakening against other currencies, the report says, with all but one (Boston) of the 16 surveyed falling down the rankings.
The report also warns of a number of fallouts that could take place this year as political and economic shocks start to take effect.
It points out that the United Kingdom has already seen sharp declines in the relative cost of living as a result of the Brexit referendum and related currency weaknesses. The prospect of the UK leaving the European Union in March 2019 means the country is now cheaper – with London ranking 30th overall.
A house in Damascus, Syria.
Cheaper cities tend to be less liveable
At the bottom of the rankings, Damascus is the cheapest city in the world, dropping 14 places in comparison to last year. Caracas is the next cheapest city, with its ranking falling 13 places since the survey was last conducted, highlighting the impact of political or economic disruption, the report says.
For many Syrian and Venezuelan nationals, however, neither Damascus nor Caracas would be considered cheap, as rocketing prices in recent years have made groceries more difficult for people to afford.
There’s one European capital among the world’s 10 cheapest cities.
The 10 cheapest cities, according to the report, are:
133. Damascus, Syria
132. Caracas, Venezuela
131. Almaty, Kazakhstan
130. Lagos, Nigeria
129. Bangalore, India
128. Karachi, Pakistan
127. Algiers, Algeria
126. Channai, India
125. Bucharest, Romania
124. New Delhi, India
The report adds: “There is a considerable element of risk in some of the world’s cheapest cities… and there is some correlation between the EIU survey and its sister ranking, the liveability survey. Put simply, cheaper cities also tend to be less liveable.”
To view the full report, click here.
For information as to how Relocation Africa can help you with your Mobility, Immigration, Research, and Remuneration needs, email marketing@relocationafrica.com, or call us on +27 21 763 4240.
Sources: EWN [1]. Image sources: Pierpaolo Lanfrancotti [1], Neil Carey [2].
Air France’s New Sister Airline ‘Joon’ Debuts in Cape Town
In a strategic move aimed at sustainable growth, Air France introduced its Joon airline to Cape Town last week, with the first flight on April 3rd.
Described as the “baby sister” of Air France, Joon takes over the direct route between the Mother City and Paris from Air France.
Joon CEO Jean-Michel Mathieu said at a media briefing in Cape Town that the airline represents “the new generation journey by Air France”.
It targets younger travellers and commenced three direct flights between Paris and Cape Town this week. Joon cabin crew, for instance, wear white tekkies and polo shirts.
According to Paul van den Brink of Cape Town Air Access – a partnership between Wesgro, the Western Cape Government, the City of Cape Town, Airports Company South Africa, South African Tourism and Cape Town Tourism – the French market has been earmarked as one of Cape Town’s fastest growing markets.
A total of 17 574 French arrivals are expected through Cape Town International Airport between November 2017 and April 2018 with a 22.9% year-on-year increase forecasted. The French market is now the 6th largest source market for the Western Cape.
Nationally, the top two age groups to visit South Africa are 25 to 34 and 35 to 44 year olds among passengers originating from France and Europe.
Historically, Western Cape tourist arrivals boasts a solid youth market with the 25 to 34 year age bracket showing a consecutive growth rate between 2013 and 2016, indicating sound prospects of continued growth into 2018.
“We aim to offer innovative, high quality service at competitive pricing,” said Mathieu. “Joon will enable Air France to keep on growing and increase our market share. The objective is to have Joon as an innovative lab for Air France.”
In answer to a question from Fin24, Mathieu said he is not sure that the water crisis in Cape Town will impact the city as a destination.
“Joon is not just aimed at the leisure market, but also at the tech and innovation industries in Cape Town,” he said.
“I am still optimistic that the water crisis will not impact the attractiveness of the destination.”
An Air France representative indicated that the aim will be to make passengers aware of the water situation in Cape Town and that the water situation has so far not impacted bookings.
Van den Brink agreed that there has actually been an increase in air passengers to Cape Town and that flight bookings have not decreased.
For a list of Joon’s destinations, click here.
Sources: Carin Smith (Fin24) [1]. Image sources: [1].
The World’s Cheapest and Most Expensive Cities: EIU
The the latest Worldwide Cost of Living report from the Economist Intelligence Unit (EIU) has been released.
For a fifth consecutive year, Singapore has been named as the most expensive city in the world.
While last year the top 10 was dominated by cities in Asia, now five of the priciest places in the report are found in Europe, with Paris and Zurich joint-second. Oslo, Geneva and Copenhagen are fifth, joint-sixth and eighth, respectively.
Hong Kong is ranked as the fourth most expensive city, while Seoul (joint-sixth), Tel Aviv (ninth) and Sydney (10th) are also included in the list.
The top 10 most expensive cities, according to the report, are:
1. Singapore
2. (tie) Paris, France
2. (tie) Zurich, Switzerland
4. Hong Kong, China
5. Oslo, Norway
6. (tie) Geneva, Switzerland
6. (tie) Seoul, South Korea
8. Hamburg, Germany
9. Tel Aviv, Israel
10. Sydney, Australia
The survey, which is designed to help create compensation packages for expatriates and those travelling for business, measures the cost of living in 133 major cities, including comparing more than 400 individual prices across 160 products and services.
It finds that Singapore is the most expensive place to buy and run a car, while the average price for one bottle of wine ($23.68) is considerably more than in most other cities, including the majority of those within the top 10. Only Seoul ($26.54) and Tel Aviv ($28.77) were found to be more expensive.
The priciest cities for groceries
Despite topping the rankings, Singapore does offer relative value in some categories, especially compared with its regional peers, the report says.
For categories such as personal care, household goods and domestic help, Singapore remains significantly cheaper than Seoul, Hong Kong and Tokyo, which are the most expensive places in the world to buy staple goods.
In Seoul, for example, filling up a grocery basket is almost 50% more expensive than in New York, which ranks 13th in the overall list, the highest of any city in the United States.
Los Angeles, which ranked 14th overall, is the next most expensive US city, down from 11th last year. Indeed, US cities have become comparatively cheaper thanks largely to the dollar weakening against other currencies, the report says, with all but one (Boston) of the 16 surveyed falling down the rankings.
The report also warns of a number of fallouts that could take place this year as political and economic shocks start to take effect.
It points out that the United Kingdom has already seen sharp declines in the relative cost of living as a result of the Brexit referendum and related currency weaknesses. The prospect of the UK leaving the European Union in March 2019 means the country is now cheaper – with London ranking 30th overall.
A house in Damascus, Syria.
Cheaper cities tend to be less liveable
At the bottom of the rankings, Damascus is the cheapest city in the world, dropping 14 places in comparison to last year. Caracas is the next cheapest city, with its ranking falling 13 places since the survey was last conducted, highlighting the impact of political or economic disruption, the report says.
For many Syrian and Venezuelan nationals, however, neither Damascus nor Caracas would be considered cheap, as rocketing prices in recent years have made groceries more difficult for people to afford.
There’s one European capital among the world’s 10 cheapest cities.
The 10 cheapest cities, according to the report, are:
133. Damascus, Syria
132. Caracas, Venezuela
131. Almaty, Kazakhstan
130. Lagos, Nigeria
129. Bangalore, India
128. Karachi, Pakistan
127. Algiers, Algeria
126. Channai, India
125. Bucharest, Romania
124. New Delhi, India
The report adds: “There is a considerable element of risk in some of the world’s cheapest cities… and there is some correlation between the EIU survey and its sister ranking, the liveability survey. Put simply, cheaper cities also tend to be less liveable.”
To view the full report, click here.
For information as to how Relocation Africa can help you with your Mobility, Immigration, Research, and Remuneration needs, email marketing@relocationafrica.com, or call us on +27 21 763 4240.
Sources: EWN [1]. Image sources: Pierpaolo Lanfrancotti [1], Neil Carey [2].
DA Members Opposed to Supposed Maimane Power Grab
More divisions have emerged in the higher echelons of the DA, with a top party member strongly objecting to moves to extend the office term of leader Mmusi Maimane from three to five years.
In a strongly-worded letter to delegates attending the DA national elective congress scheduled for next weekend in Pretoria, chief whip John Steenhuisen has become the latest influential party MP to object to proposed changes to the DA constitution aimed at strengthening Maimane’s grip on power.
Steenhuisen has written to party delegates, urging them to reject a constitutional amendment to extend the office term of DA leader from three to five years, saying this would make it difficult to hold leaders accountable on a regular basis.
The DA chief whip is also lobbying delegates to reject changes to the DA constitution that would see the party’s national management committee, tasked with managing the daily affairs of the party, being reduced to just four members led by Maimane.
Steenhuisen is arguing that, if adopted, the proposal would amount to nothing but centralisation of power in the hands of a fewer leaders in a rapidly growing party.
Last week other top DA MPs, Gavin Davis and Michael Cardo, voiced their opposition to a proposal to introduce race and racial representation in the constitution of the DA.
For information as to how Relocation Africa can help you with your Mobility, Immigration, Research, and Remuneration needs, email marketing@relocationafrica.com, or call us on +27 21 763 4240.
Sources: TimesLIVE [1]. Image sources: [1].
Zimbabwean President’s First State Visit to China
Zimbabwe’s President Emmerson Mnangagwa was due to meet Chinese President Xi Jinping on Tuesday as he seeks economic support from a major partner that previously backed his ousted predecessor Robert Mugabe.
Mnangagwa, who received military training in China when he was a young liberation fighter decades ago, will be greeted by Xi at the colossal Great Hall of the People for his first state visit to Beijing since taking power.
Mnangagwa took office in November after a military takeover ended Mugabe’s 37-year reign, though he has also been accused of playing a key role in his mentor’s authoritarian regime that left the economy in ruins and under sanctions.
In an interview with China’s Xinhua state news service, Mnangagwa said his trip was to “say thank you not only to the president of China but also the people of China for standing and supporting Zimbabwe during the hard times when the West imposed sanctions on us.”
He will also seek to sell Zimbabwe as a destination for Chinese investment, he said, adding that he would participate in economic forums aimed at attracting business to the country.
“It’s an issue of leapfrogging after 18 years of isolation so that we catch up with the rest of the developing countries.”
Mnangagwa has firsthand experience of sanctions: he was targeted by EU and US measures imposed on Mugabe and his close allies over violence and intimidation surrounding Zimbabwe’s 2008 presidential campaign.
But Mugabe sacked Mnangagwa from his job as vice president in November over a succession tussle with the first lady, Grace Mugabe, setting off a crisis that led to the veteran president’s ouster.
The visit comes as China takes a more proactive role in Africa, where it has long invested in infrastructure projects and sought resources, but has recently built its first military base in Djibouti.
Beijing also is believed to be taking a more active role in Zimbabwe’s politics.
The country’s then army chief, General Constantino Chiwenga, visited Beijing shortly before Mugabe’s November ouster, leading to questions about whether Beijing had any role in the power transition.
China denied it played any part in the military takeover.
Beijing had long been one of Mugabe’s most powerful allies and a major trade partner, as the West shunned him over his government’s human rights violations, but it avoided taking sides during his ouster.
Chiwenga was named vice president in December.
Relations between the two countries date back to the liberation struggle of the 1960s, when Beijing provided arms and trained some of the top guerrilla leaders, including President Mnangagwa.
For information as to how Relocation Africa can help you with your Mobility, Immigration, Research, and Remuneration needs, email marketing@relocationafrica.com, or call us on +27 21 763 4240.
Sources: TimesLIVE [1]. Image sources: [1].