Recently, CNN published a list of the world's most and least expensive cities in which to live. Typically, you'd see places like Tokyo, Moscow and Paris at the top, but a new trend is emerging. Two of the top ten most expensive cities are in Africa! In fact, Luanada, Angloa was ranked the most expensive for the second year in a row! Amazingly, the cost of expatriate housing in the city is almost double what it costs in Tokyo. With the weakening US Dollar, exchange rates are in flux, causing significant shifts in this year's rankings. The high cost of living in Luanda is also down to the fact that expats shop differently to locals. Expats tend to look for international brands they are used to at home, which have to be imported. A club sandwich and a soda meal costs $20.58 in Luanda, compared to $6.29 for a fast-food meal in New York and $3.57 in Shanghai. Angola's oil reserves do at least mean that gas is cheap in Luanda - 59 cents per liter, compared to 87 cents in New York and $1.12 in Shanghai.
The skyline of Luanda, Angola.
In recent years Angola has been attracting expats with its growing economy, driven by oil production. It produces up to 1.9 million barrels a day, with oil contributing about 85% of its GDP, according to the CIA World Factbook. While it's great to see business booming in this developing nation, the vast majority of Angolans work in agriculture and more than a third live below the poverty line, according to the U.N. Development Program.
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