20 January 2017
The results show London (UK) ranks fifth, with a basic first month living cost of £2,081.37. This is followed in the UK by Manchester, ranked in position 33, with a basic first month living cost of £1,025.67.
These compare to the least expensive city Tunis, Tunisia, at £316.70, whilst Luanda, Angola came in as the most expensive at £2,594.85. For New York, in second, the relocation cost for the first month was £2,455.88, following by £2,428.29 for San Francisco.
Brexit relocation costs to Europe
Commenting on the tool’s relevance, Finn Hänsel, Movinga’s managing director, said: “Berlin, Paris, Frankfurt, Dublin and Amsterdam; these are all cities that may be preparing for an influx of banking industry workers due to Brexit.
“Among the factors that the directors of the banks will have to take into consideration for relocating will be the cost of relocating for employees. Therefore, studies like this will be very important in the years to come.”
Cities in Africa and USA most costly to relocate to Although the overall expense will differ depending for each unique move, Movinga believes the costs can be used as an indicator as to which locations are more or less expensive for moving services.
Movinga found that Luanda (Angola), New York (US) and San Francisco (US) would dent relocatees’ first pay packet hardest. London came out as fifth most expensive, thanks to its high transport costs, in Movinga’s interactive table of findings for its 2017 Relocation Price Index.
In Asia and Australasia, Hong Kong was the priciest city to move to, in sixth place, followed by Sydney (Australia) and Singapore.