As per a report by the Economic Intelligence Unit today, Lagos State has been positioned the second cheapest city on the planet for expatriates.
Lagos which fell 16 spots to 132nd place on the world priciest urban communities record joins Kazakhstan’s Almaty at the base. The report says, “In spite of the fact that Nigeria has been drawing in huge premium and interest as of late, the fall in worldwide oil costs has driven a crumple in the estimation of the Nigerian naira, which pushed down relative valuing, notwithstanding solid neighborhood expansion. The relative average cost for basic items in Lagos has more than divided since 2008, which may flag restored enthusiasm from outside financial specialists, with value levels so low by universal measures”.
The Worldwide Cost of Living 2017 report saw Asian urban areas take five of the main ten spots, on account of a managed recuperation in the quality of the Japanese yen that moved Tokyo and Osaka over into the best ten, close by Singapore and Seoul.
Singapore was positioned the most costly city on the planet for exiles for the fourth successive year. Western Europe represented a further four urban communities, with stalwarts Zurich and Geneva in third and seventh position separately. Paris, the main Eurozone city, came in eighth position and the Danish capital Copenhagen, which pegs its money to the Euro, adjusted off the best ten.
New York was the solitary North American agent, tumbling to ninth position inferable from a slight debilitating of the U.S. dollar, which additionally influenced the position of different US urban communities. Despite fixing the positioning, “Singapore still offers relative incentive in a few classes, particularly contrasted and its local associates,” the report said.