Armenian capital is only world’s number 167 out of 214 cities in terms of cost of livings, the worldwide survey by Mercer Consulting has revealed.
The study covers 214 cities across five continents and measures the comparative cost of over 200 items in each location, including housing, transport, food, clothing, household goods and entertainment.
Mercer’s 2011 Cost of Living survey is designed to help multinational companies and governments determine compensation allowances for their expatriate employees.
Yerevan, placed 167, is more expensive than Tbilisi – the capital of neighboring Georgia which was ranked 191th. But both South Caucasian capitals appear to be really cheap compared to Baku, the capital of Azerbaijan, which was placed 48th.
It is noteworthy, that Yerevan has become slightly expensive – it was placed 170th last year, but has worsened by 3 points in 2011. Counter to that, Baku and Tbilisi have improved their positions in the ranking. Baku has moved to 48place from last year’s 36th position, while Georgia has jumped to 191st place from 179 last year.
As to the Top 5 most expensive cities overall, they are: Luanda, Angola (1st), Tokyo, Japan (2nd), N’Djamena, Chad (3rd), Moscow, Russia (4th) and Geneva, Switzerland (5th).