These days, many firms and individuals need to make use of foreign currency exchange services. When they buy foreign currency it is important they benefit from the best deals and this issue is brought even more keenly into focus when they are operating on tight budgets.
For example, companies that use foreign currency exchange services to help them run bases in Tokyo may be particularly eager to benefit from the most favourable deals around. After all, the city has been identified as the most expensive for expatriates.
It pushed Luanda, Angola down into second place, while Osaka took the third spot. Meanwhile, completing the top five were Moscow and Geneva.
At the other end of the scale, Karachi was ranked as the world�s least expensive city for expatriates.
The survey measured the comparative cost of more than 200 expenses in each location, including accommodation, transport, food, clothing and entertainment.
Commenting on the findings, principal at Mercer Nathalie Constantin-M�tral said: �Deploying expatriate employees is becoming an increasingly important aspect of multinational companies� business strategy, including expansion.
�But with volatile markets and stunted economic growth in many parts of the world, a keen eye on cost efficiency is essential, including on expatriate remuneration packages. Making sure salaries adequately reflect the difference in cost of living to the employee�s home country is important in order to attract and retain the right talent where companies need them.�
She went on to note that when compared with the benchmark city of New York, most European cities have witnessed a decline in the cost of living.
When firms are looking to buy foreign currency, it is important they think carefully about how to achieve the best outcomes. If they do, they can benefit from impressive deals and this can help to make their operations overseas more affordable.
For more information please visit – www.currencies.co.uk
