Angola's capital Luanda remains 'most expensive city' for expats in Mercer's 2015 Cost of Living ranking

Luanda, Angola’s capital city. Angola is rich in national resources, particularly oil and gas.

The Angolan capital, Luanda, remains the world’s most expensive city for expatriates, according to an annual survey by consultancy Mercer.

The city has held the number one spot for the past three years because of the high cost of rent, imported goods and security in the oil-rich nation.

However, the rest of the cost of living rankings saw significant shifts due to exchange rate fluctuations.

Asian cities now account for half of the top 10 costliest destinations.

Hong Kong rose to second place and Singapore remained in fourth because of their expensive property and rental markets.

Shanghai, Beijing and Seoul also made the top 10.

Read more: Angolan capital remains ‘most expensive city’ for expats – BBC News