(Berlin, Germany, 18/01/2017) -Berlin, Paris, Frankfurt, Dublin and Amsterdam; these are all cities that may be preparing for an influx of banking industry workers due to Brexit, stated Movinga’s Managing Director Finn Hänsel. «Among the factors that the directors of the banks will have to take into consideration for relocating will be the cost of relocating for employees. Therefore, studies like this will be very important in the years to come, says Hänsel to Nordensnyheter.com.
Nordics expensive
Online moving platform Movinga have produced a study detailing the costs associated with relocating to some of the world’s most in demand cities..The research, which includes 75 cities in 51 countries globally, found that Luanda, Angola has the highest first month’s basic costs directly above New York and San Francisco, USA. Tunis in Tunisia has the lowest.The results show Oslo, Norway ranks in position 14, with a basic first month living cost of €1,816.37. This compares to the least expensive city Tunis, Tunisia, at €372.59, whilst Luanda, Angola came in as the most expensive at €3052.77. Oslo, Norway also ranked in position 58 for average relocation costs. Here we present the costs of living for food and drinks in the three Scandinavian countries according to Movingas statistics, all in Euro:
13 Copenhagen Denmark 577,96
14 Oslo Norway 827,25
17 Stockholm Sweden 663,25
Further findings from the Index include:
*Tunis, Tunisia offers the least expensive rent for a 35 m² apartment at €118.97/month.
*New York, USA has the most expensive rent for a 35 m² apartment at €1,922.10/month.
*Warsaw, Poland offers the least expensive mobile set-up with a month of data usage at €4.67.
*Zurich, Switzerland has the most expensive mobile set-up with a month of data usage at €91.00.
*Bangalore, India offers the least expensive food and drink costs for a month at €218.25.
*Luanda, Angola offers the most expensive food and drink costs for a month at €1,052.99.
*Cairo, Egypt offers the least expensive public transport costs for a month at €6.09.
*London, UK offers the most expensive public transport costs for a month at €143.85.
*Seoul, South Korea offers the least expensive labour and transport costs associated with relocating.
*Hong Kong offers the most expensive labour and transport costs associated with relocating.
*Johannesburg, South Africa is the city with the least expensive basic first month cost (€676.94) out of all cities with English as an official language.(Relocation Price Index Down under)
-Berlin, Paris, Frankfurt, Dublin and Amsterdam; these are all cities that may be preparing for an influx of banking industry workers due to Brexit,» says Finn Hänsel. Among the factors that the directors of the banks will have to take into consideration for relocating will be the cost of relocating for employees. Therefore, studies like this will be very important in the years to come.» Movinga carried out the research after conducting a poll which indicated that fifty per cent of 5,000 respondents aged between 25-35 stated they would look to relocate in the next five years. Understanding the costs associated with moving is very valuable for those who are looking, or being recruited, for jobs abroad.
Here are Movingas methods
To compile the Index, Movinga first researched1 the average cost of moving to each city in the ranking2. They contacted several moving companies in each city to find the cost of relocating, using the world’s average distance for relocations of 250 km. Although the overall expense will differ depending on each unique move, the fees incurred are an indicator as to which locations are more or less expensive in which to utilise moving services. Next, they calculated the basic costs associated with the first month of living in a new city. Calculations include the average rent for a 35 square metre apartment close to the city centre, calculated by finding the cost of a month’s data plan and set-up for a mobile phone4, food and drink for a month, and a month’s use of city public transport.
For the full results of the study (75 cities) with the interactive table of findings, visit here.
