The living condition of inhabitants in a city has a substantial effect on them and by extension affects their quality of life and economic mobility.
High cost of living is one major problem and one direct consequence of a high cost of living is how simple it is for people to get by. Many people’s salaries might be significantly depleted by housing, transportation, and other necessities, leaving little money for savings or other discretionary spending. This could lead to financial distress, making it difficult to accumulate wealth over time.
The high cost of living may limit one’s ability to advance economically. Especially if they live in an expensive city, people who are born into low-income families usually struggle to grow financially.
Furthermore, the general economy may be impacted by the high cost of living. As an illustration, firms may find it difficult to recruit and keep staff in cities with high cost of living. This may make it more challenging for businesses to develop and prosper, which may have an impact on the regional economy.
Having said that, it is important to note which cities across the globe are the most expensive, especially if you choose to compare and contrast with your current city resident, as a result, Numbeo, one of the world’s most profound data and research platforms, has created a methodology to compute data that determines the cities with the highest cost of living.
Rank | City | Country | Cost of living Index | Local purchasing index | Global rank |
1. | Douala | Cameroon | 54.0 | 6.2 | 289th |
2. | Dakar | Senegal | 48.4 | 20.6 | 325th |
3. | Addis Ababa | Ethiopia | 44.5 | 10.9 | 354th |
4. | Abidjan | Ivory Coast | 44.4 | 7.2 | 356th |
5. | Port Louis | Mauritius | 42.8 | 30.2 | 371st |
6. | Harare | Zimbabwe | 42.4 | 17.5 | 373rd |
7. | Johannesburg | South Africa | 39.4 | 87.8 | 401st |
8. | Lagos | Nigeria | 37.8 | 7.0 | 419th |
9. | Gaborone | Botswana | 36.6 | 47.9 | 436th |
10. | Pretoria | South Africa | 35.7 | 90.0 | 448th |
With indicators like the overall index that Numbeo generates: Rent index, grocery index, restaurant index, Cost of Living Plus Rent Index, an estimation of consumer goods prices including rent, and local purchasing power are all included in the Cost of Living Index (Excluding Rent), which is a relative indicator of consumer goods prices, including groceries, restaurants, transportation, and utilities.
Below are 10 African cities with the highest cost of living, a total of 571 cities were cited in Numbeo’s original list;