Istanbul has become a much more expensive city for expatriates to live in, according to the latest global cost of living ranking by Mercer.
Istanbul was the 99th most expensive city for expatriates in 2015 out of 207 cities on five continents, according to an annual survey by consultancy firm Mercer.
The city climbed 36 places from last year due to a rise in inflation rates across the country and the loss of the Turkish Lira against the U.S. dollar, according to the Mercer survey.
The Angolan capital, Luanda, has been the world’s most expensive city for expats for the past three years because of the high cost of rent, imported goods and security in the oil-rich nation. A one-bedroom apartment in the city center costs about 7,500 pounds a month to rent. A pizza is around 20 pounds, and gym membership is around 5,000 pounds a year. Only guns are cheap in the city, according to local reports.
The biggest fall from the top 10 was Moscow, which dropped 41 places to 50th because of the depreciation of the ruble following Western sanctions and the oil slump. St. Petersburg decreased by 117 spots to 152 in 2015 from last year.
In the Middle East, the most expensive city was Dubai, which ranks 23 on the global list, followed by Abu Dhabi, which ranks 33. Across the Atlantic, New York remains the most expensive city in America, followed by Los Angeles, San Francisco, and Washington.
The survey by the Mercer consulting group compares the cost of over 200 items in 207 cities, including housing, food, transport, and entertainment.
