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Oslo most expensive European city for expats
| Published: | 7 Jan at 4 PM |
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The Norwegian capital Oslo has been ranked as the most expensive city in Europe for expats to live in, according to a recent cost of living survey.
The latest rankings, compiled by ECA International, did not feature any cities in neighbouring Sweden in the top 30, most likely because of the weakening of the Krona.
ECA conducts cost of living surveys twice annually to assist companies in working out allowances for employees while on foreign assignments. The surveys compare like-for-like consumer services and products commonly bought in more than 440 cities worldwide.
The Ukraine capital Kiev was the cheapest place to live in Europe, falling more than 60 positions to 257th worldwide because of the current political instability of the former Soviet state. Although prices have shot up significantly in the past year, the currency continues to decline as a result of its civil war.
Living costs can be affected by things such as exchange rates, availability of goods and inflation, all of which can have a major impact on remuneration packages companies offer their employees. Meanwhile, living costs including rent, school fees, car purchases and utilities are generally covered by separate allowance.
The cost of living in UK cities has increased over the past 12 months as the pound has remained strong. Central London moved up from 68th position globally last year to 52nd this time out.
The latest rankings, compiled by ECA International, did not feature any cities in neighbouring Sweden in the top 30, most likely because of the weakening of the Krona.
ECA conducts cost of living surveys twice annually to assist companies in working out allowances for employees while on foreign assignments. The surveys compare like-for-like consumer services and products commonly bought in more than 440 cities worldwide.
The Ukraine capital Kiev was the cheapest place to live in Europe, falling more than 60 positions to 257th worldwide because of the current political instability of the former Soviet state. Although prices have shot up significantly in the past year, the currency continues to decline as a result of its civil war.
Living costs can be affected by things such as exchange rates, availability of goods and inflation, all of which can have a major impact on remuneration packages companies offer their employees. Meanwhile, living costs including rent, school fees, car purchases and utilities are generally covered by separate allowance.
The cost of living in UK cities has increased over the past 12 months as the pound has remained strong. Central London moved up from 68th position globally last year to 52nd this time out.
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