Bulgaria 'is the least expensive country in Europe for expats'
Bulgaria represents one of the least expensive countries in Europe for expatriates, according to the findings of a new survey.
Mercer Human Resource Consulting revealed that Sofia is Europe's cheapest city for expats, judging by an analysis of the comparative cost of almost 200 items, including food, clothing, housing and transport.
While Moscow is the world's most expensive city for expats due to rising rental costs and unfavourable exchange rate changes, Sofia finished in 108th place out of 143 cities - despite Bulgaria's growing reputation as a key European property investment destination.
"The relative strength of the Euro and other European currencies, including the Swiss Franc and the Swedish, Danish and Norwegian Krone, has pushed up the living costs faced by expatriates in many European countries," explained Yvonne Traber, research manager and senior associate at Mercer.
The survey also revealed that in Latin America, Sao Paulo and Rio de Janeiro are the most expensive places for expats to live.
According to the report, the world's least costly city was found to be Asuncion in Paraguay, which finished ahead of Montevideo.
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