Cost of Living in the Leading Emerging Market Cities (2015)

Cost of Living in the Leading Emerging Market Cities (2015)

Are you aspiring to see more of the world? To live in far-off lands and to experience new ways of life? Many of us dream of just these things. But to select the location that best suits your preferences and living standards, it is necessary the cost of living each of these destinations may entail. Below is a list of some of the premier expatriate destinations and what they can offer in terms of cost of living.

Cost of living

Cairo

The cost of living in Egypt’s central hub is low by any standards. Recent figures indicate that Egypt as a nation has the seventh lowest cost of living in the world. To put this into another perspective, the cost of living is 70 percent lower in Cairo than London, 62 percent lower than in Washington DC, and roughly equal to Mumbai, India. It has been ranked in a recent survey, the 7th cheapest place to live in the world.

Price in $USD
Consumer Price Index (CPI) 36.36
Three-course meal for 2 in rid range restaurant $21.60
Inner city apartment with 3 bedrooms (per month) $585.90

 

Riyadh

The cost of living in Saudi Arabia currently places the country middle of the road globally. Regionally speaking, Saudi Arabian cities generally rank lower than most Middle Eastern cities in terms of international cost of living surveys. Considering that housing and transportation costs are typically incorporated into an expat’s salary package, very little money needs to be spent to live here. Further, goods such as tobacco, groceries, and electronics are all generally cheap due to lower import duties and the lack of taxation.

Price in $USD
Consumer Price Index (CPI) 52.06
Three-course meal for 2 in rid range restaurant $26.60
Inner city apartment with 3 bedrooms (per month) $947.48

 

Kuwait City

The cost of living in Kuwait is more or less equivalent to that in the majority of European nations, for an average western expatriate. In other words, life in Kuwait can be considerably expensive; Business Insider reports that Kuwait maintains the ninth highest cost of living in the world. While the cost of goods and services may not be real bargains like those seen in Southeast Asia, but the lack of taxation is a major advantage to make these costs less oppressive. This is particularly true on certain items like cars.

 

Price in $USD
Consumer Price Index (CPI) 91.85
Three-course meal for 2 in rid range restaurant $40.60
Inner city apartment with 3 bedrooms (per month) $2,164.91

 

Dubai

The 2014 Worldwide Cost of Living survey produced by the Economist Intelligence Unit (EIU) shows that living in Dubai has become a bit more expensive than in years’ past, but still very affordable by global city standards. Dubai’s cost of living rank inched up from No. 96 last year among 131 metropolitan cities surveyed to No. 94 this year. The emirate remains in the bottom one-third among global cities in terms of cost of living.

Price in $USD
Consumer Price Index (CPI) 69.93
Three-course meal for 2 in rid range restaurant $40.84
Inner city apartment with 3 bedrooms (per month) $3,778.66

 

Doha

The cost of living in the Qatari capital is roughly on par with his neighbours in the Dubai and Abu Dhabi. Doha’s real estate industry, however, is notably inflated in comparison to its UAE counterparts.

Aside from incredibly cheap petrol, many everyday goods are more expensive in Qatar than what one may be accustomed to in the UK or US. 90% of the country’s food is imported, meaning that even basic foodstuffs can be expensive.

Price in $USD
Consumer Price Index (CPI) 72.87
Three-course meal for 2 in rid range restaurant $40.90
Inner city apartment with 3 bedrooms (per month) $4,023.62

 

Singapore

Singapore is regarded as one of the most expensive places in the world. In recent years, it has even moved up to be ranked as one of the eight most expensive cities in the world. Within Asia, Singapore remains the 5th most expensive, only behind Tokyo, Osaka, Hong Kong, and Beijing.

Price in $USD
Consumer Price Index (CPI) 95.90
Three-course meal for 2 in rid range restaurant $40.90
Inner city apartment with 3 bedrooms $4,745.08

 

Hong Kong

The cost of living in Hong Kong can be high for expats. Listed third in Mercer’s 2014 Cost of Living report, the “Pearl of the Orient” has an extremely overinflated real estate market, which makes finding accommodation an expensive endeavour.

Add to that the fact that the majority of produce and commodities have to be imported. Expatriates tend to find that the necessities of life are generally more expensive in Hong Kong than in many other global cities. Nevertheless, high expatriate salaries tend to offset these costs and many expats assert that their quality of life is higher than it was back in their homeland.

Price in $USD
Consumer Price Index (CPI) 75.01
Three-course meal for 2 in rid range restaurant $38.70
Inner city apartment with 3 bedrooms (per month) $4,944.64

Cost of living (Aussie)

 

(All figures from numbeo.com)


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