World’s Most Expensive City Is in Africa

An African city tops the list of the world’s most expensive places to live, while no U.S. city even makes the top five of Mercer’s Worldwide Cost of Living Survey for 2011.

Two African cities — Luanda in Angola and N’Djamena in Chad — ranked No. 1 and No. 3, respectively. Tokyo was No. 2, with Moscow at fourth and Geneva at fifth.

New York City is America’s most expensive metropolis, but just the 32nd most expensive city in the world.

Emerging economies continue to make a stronger showing in the annual survey. The ranking of Sao Paulo, Brazil, moved from its 21st spot in 2010 up to the No. 10 spot. Karachi, Pakistan, ranked as the world’s cheapest city.

Mercer is a New York-based human resources and financial services firm. It publishes the report to help companies determine compensation for employees working outside their native countries.