Lisbon is the 109th most expensive city in the world for expats
Lisbon is the 109th most expensive city in the world for expats. The data are from the study “Custo de Vida 2022”, by the consultancy Mercer, which indicates that the Portuguese capital dropped 26 places in relation to the classification last year. No city says the European continent, Lisbon the 3rd expensive city for ex-natal people, reveals the same study that is the continent with the highest cost of living27 ex-natal cities that live in respect outside their country.
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The most expensive city in the world for expats is Hong Kong (China), which in 2021 ranked second. This position is now occupied by Zurich, Switzerland, followed by three other cities in the same country, Geneva, Basel and Bern, which are in third, fourth and fifth places, respectively.
According to Mercer, “the increase of remote work, the changes, the war in the war in the generalized Ukraine”, the exchange rate variations and the generalized globalization”, are having an environmental impact in the increase of the impacts for the workers, which could come to suffer from environmental impacts as an impacting material in increasing the talent economy.
Inflation and economic uncertainty worry expatriates
As Mercer Portugal Career Business Leader Tiago Borges explains, “The volatility triggered by Covid-19 and exacerbating the crisis in Ukraine has fueled economic uncertainty and global politics. In most countries around the world, expatriates are concerned regarding their purchasing power and socioeconomic stability”.
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That is, employees who work outside their countries of origin are normally paid a fee for what they do in the place where they live their profession. This benefit, as the consultant explains, “is calculated by applying a collection index, that is, the amount you spend daily at your place of reception”.
However, escalating inflation and the consequent increase in the cost of living are impacting expatriates’ purchasing power. The possibility of prioritizing the choice of other companies can be customized among other people and other family conditions and may have repercussions on them. These needs, reinforce Mercer, “to rethink its mobility strategy, to have an opportunity in the global battle for talent”.
Suggestion supported by Tiago Borges who warns that “for organizations, the financial well-being of employees is a key factor in their ability to attract and retain top talent”. These organizations must “define strategies to structure their mobility packages for international collaborators in unstable times”.
Marta Dias, Rewards Leader Mercer Portugal, also states that “the lack of adaptation of international strategies to adapt to the world harms the ability of new organizations to develop, develop and retain talent”.
The most expensive European cities for expats
According to the “Cost of Living 2022” study, Copenhagen, London, Vienna, Amsterdam, Oslo and Munich are the most expensive European cities for those working outside their home country, in addition to the Swiss cities of Zurich, Geneva, Basel and Bern. . The most expensive city in Eastern Europe is Prague (Czechia), which ranks 60th out of 227 cities.
Sarajevo, in Bosnia-Herzgovina, which ranked 209th in the classification world, it was considered the cheapest city in Eastern Europe.
To ascertain these results, the Mercer study measured the cost, which includes housing, transportation, food, equipment, equipment and entertainment, in 227 cities on five continents. As the consultant explains, the results regarding the cost of living and renting accommodation come from a survey carried out in March of this year.