Madrid and Barcelona, 115th and 124th of most expensive cities for expatriates

Madrid and Barcelona occupy positions 115th and 124th in the world rankings of cities for cost of living for expatriate employees, so down more than 50 seats each from the previous year, the study of Cost of Living 2015 done by  Mercer Consultory .

This study measures the comparative cost of over 200 items in cities around the world, including housing, transport, food, clothing, household goods and entertainment, and aims to help multinational companies and governments to encrypt benefits compensation for expatriate employees in different parts of the world.

The study says that the declines in the ranking of Madrid and Barcelona are due to the strength of the US dollar against the euro, falling interest rates and rising unemployment.

The ranking is headed for the third year Luanda (Angola), because although it is a city "relatively cheap, the cost of imported goods and have a safe living conditions are available at a high price."

They followed as the most expensive cities Hong Kong, Zurich (Switzerland), Singapore and Geneva (Switzerland).

On the opposite side, the cheapest cities for expatriates are Bishkek (Kyrgyzstan), Windhoek (Namibia) and Karachi (Pakistan).