Two Brazilian cities have been named among the most expensive in the world, according to new research.
A report by consulting firm Mercer named Rio de Janeiro and Sao Paulo as two of the twelve costliest places for expats to live, following a sustained period of growth.
Sao Paulo ranked as the tenth most expensive city in the world to live in, while Rio de Janeiro was featured as twelfth.
“The survey 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,” explained Mercer.
It added that the report is designed to help international companies and governments determine compensation allowances for expatriate employees.
The top five most expensive cities are Luanda in Angola, Tokyo in Japan, N’Djamena in Chad, Moscow in Russia and Geneva in Switzerland.
Local currency in Brazil has increased significantly due to a rise in overseas investment, accounting for the countrys rise up the ranks.
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