Photo: Thomas Hawk/Flickr
According to the latest cost of living survey from ECA International, the Venezuelan capital, Caracas, is currently the most costly city in the Americans and the world for expatriates to live in. Manhattan is number two in the region and 33rd globally, while Vancouver is in the 5th position in the Americas and 53rd globally. (Tweet this)
To determine each city’s ranking, ECA International looks at the average price of a number of consumer items. For example:
But when considering the survey, it’s important to note key living expenses such as housing costs, utilities charges, car purchases and school fees, are not included in the survey.
“Such items can make a significant difference to expenses but are usually compensated for separately in expatriate package,” ECA International points out.
So, it’s worth asking yourself: where would cities like New York and Vancouver — often cited as being home to two of the most expensive real estate markets in the world — rank if the survey considered housing costs? Higher, in all likelihood.