SHORTLY aftermoving to London a few years ago, an American journalist was invited to lunch by a British colleague. The well-meaning Londoner, thinking the American might be craving some familiar comfort food, suggested they go to an upscale "diner" in the West End.The menu featureddishes likemeatloaf and chile con carne, nothing special. Imagine the American's shock, then, tosee that the plate of macaroni-and-cheese shefancied was priced at an eye-popping nine pounds (about $18 at the time). It was good macaroni-and-cheese, but not that good. Americans, and otherexpats, have hadsuch experiences in London for years.
The pound's plunge in recent months has changed the picture dramatically. A new report from ECA International, a human-resources consultancy that tracks the cost of living in different cities around the world, illustrates the extent of those changes.
Now Moscow, not London, is ranked the most expensive city for expatriates in Europe, it says, while Tokyo has grabbed the top spot in Asia from Seoul (also hit by a depreciating currency),and Beijing has moved ahead of Hong Kong.
The extent of London'splunge inthe league tableis surprising: it is now rated the 72nd most expensive city for expats, behind European neighbours such as Copenhagen, Oslo, Paris, Vienna and Berlin.Rather oddly,the consultancy'sprice-tracker does not include property in the calculations, which would surely move London up the list (even in a falling property market).
And where is the priciest place for expats on Earth these days? Luanda, Angola takes the dubious honour on ECA's list (here).
Do the revisedrankingsreflect readers' experiences?