By Fedinard Osakue
Standing comfortably at number 226 on a survey conducted by mercer, a business of Marsh mclennan compile to help multinational companies plan compensation packages for workers mercer said the rising housing cost in many cities around the world have been a challenge for employers.
Abuja, the federal capital city of Nigeria dropped to be the most affordable city you can live in despite the rise of cost living in Nigeria and the galloping foreign exchange rate.
Hong Kong retained the top spot in this ranking, followed by Singapore. Swiss cities Zurich, Geneva and Basel round out the top five most expensive cities in the world.
London is now among the top ten most expensive cities to live in, the city is now ranked eight in Mercer’s 2024 cost of living ranking, followed by New York City.
Edinburgh was placed at 53, Glasgow at 68, Birmingham 78, Aberdeen at 82 and Belfast at 87.
Paris was ranked 29th and Dublin at 41,
The index ranks 226 locations by measuring the cost of more than 200 items including transport, food, clothing, household goods and entertainment.
Global mobility leader Yvonne Traber said: ‘its important for organisation to stay informed about cost of living trends and inflation rates and seek input from employees on these issues to effectively manage their effects. High living cost may cause assignees to adjust their lifestyle, cut back on discreatuonal spending while struggling to meet basic needs’.