MoveHub Report: Ghana; the highly indebted middle income country is the most expensive place to live in Africa

The relocation firm MoveHub has named Ghana as the country with the highest cost of living in Africa.

Ghana is the African country with the highest cost of living, that is coming from a company dedicated to helping people move abroad.

Movehub considered variables such as price of groceries, transport, bills, restaurants and renting a home in its rankings

The calculation was then placed on an index with New York as the benchmark.

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New York was rated 100 as other countries  were ranked in relation to New York.

 

If a country score higher than the New York rate then it means that particular country is more expensive than New York and vice versa.

Ghana hit the 20th position out of 21 countries from different continents.

The last five countries on the list, including Ghana, were Italy (which shared the 20th rank with Ghana), Israel, Kuwait, Japan, and New Zealand.

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Bermuda, Switzerland, Hong Kong, Iceland, and Singapore were the top five countries most expensive countries by rank.

Although New York was the standard for measuring the cost of living in countries, the USA as a country ranked number 15 because it is considerably less expensive to live in areas outside of large cities like New York.

The large number of expats drawn to Ghana because of its comparatively stable economy also likely contributes to a higher average cost of living.

The relocation firm MoveHub has named Ghana as the country with the highest cost of living in Africa. Read Full Story