Could international money transfers be the key to living in expensive African cities?

Luanda has been named as the most expensive city for Britons living and working overseas.

A new report from consultancy group Mercer revealed that the Angolan capital beats the likes of Moscow and Geneva in terms of cost of living, largely due to the high cost of obtaining secure accommodation and imported food.

London was named as the 17th most expensive city for foreign workers to live, while Tokyo and N'djamena in Chad also made it into the top ten.

Meanwhile, favourable currency exchange rates helped the likes of Karachi in Pakistan and Managua in Nicaragua to be named as among the most affordable places in the world for foreign workers to live, the Mercer report showed.

The study was compiled on the back of an analysis of not only the cost of food and accommodation in the world's main cities, but also of clothing, transport and everyday household goods.

Meanwhile, the Dubai Health Authority has reported that around four in five expats working in the emirate, many of whom send cash home through international money transfers, do not have health insurance.

Posted by Chris Barber

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