Both cities jump 45 places in Mercer's 2015 Cost of Living report.
The cost of living for foreigners in Hanoi and Ho Chi Minh City ranked 86th and 90th, respectively, on a list of 207 cities around the world, according to Mercer’s 2015 Cost of Living report. Last year the two cities ranked 131st and 135th, respectively, meaning both have jumped 45 places.
The two cities are more expensive to live in than major cities such as Houston and Atlanta in the US, Berlin and Frankfurt in Germany, Barcelona in Spain, and Doha in Qatar.
Still, they’re both cheaper than Manila (ranked 75th), Bangkok (ranked 45th), and Singapore (ranked 4th).
Luanda, the capital of the African country of Angola, has the highest cost of living for foreigners in the world. The city has regularly come in at Number 1 in recent years, except in 2012 when it was ousted by Tokyo. Mercer explained that imported products and services that ensure safe living in Luanda were very expensive. For example, an average fast food meal in the city costs $17 and jeans $250, while the monthly rent on a safe apartment averages out at $6,800.
The Top 10 cities with the highest cost of living were Luanda, Hong Kong, Zurich, Singapore, Geneva, Shanghai, Beijing, Seoul, Bern, and N’Djamena, the capital of Chad.
Mercer said that due to the devaluation of the euro against the USD many European cities ranked lower this year. For example, Paris and Milan ranked 46th and 53rd, respectively, down 19 and 23 places compared to last year. But the situation was the opposite in the US because the surging dollar increased the cost of living for foreigners.
The results were based on USD prices for 200 products and services such as housing, transport, clothing, household appliances, and entertainment.