Moving to a new country provides the opportunity to search for a new start in life or your career. In some cases that means earning more money that can be sent back home to Australia, whether for family members or for your own savings. For that, you'll need an international money transfer service that provides maximum value for money.
According to a new report released by Mercer, an international consultancy, the price of expat life just got a bit more expensive for Aussies living in some select cities.
Mercer's annual cost of living survey sees Asian cities rank prominently among the world's most expensive cities for expats.
Hong Kong topped this year's rankings, followed closely by other Asia finance hubs including Toyko (2nd), Singapore (4th), Seoul (5th) and Shanghai (7th).
Outside of Asia European and African cities scored highest for exapts. Zurich, Switzerland ranked third while Luanda, last year's number one, fell to sixth.
Mercer said currency fluctuations were the driving reason for Asia topping most of the list.
US cities, notably New York City, dropped in the rankings due to a steady pick up in the European economy, which triggered a decline in the US dollar against other major currencies in the world. New York City fell four places and is now ranked 13th.
Australian cities also fell in the rankings. Brisbane (84) and Perth (61) dropped thirteen and eleven spots, respectively, while Sydney, Australia's most expensive city for expatriates, fell four spots to number 29.
Currency fluctuations can play a big part in the cost of living for Australians living and working overseas. This is particularly true if you are getting paid in Australian dollars (A$).
For Aussies living abroad it pays to make the most of your international money transfers. That means using a service that helps you save money, not the other way around.
That's Flash Payments. We're a new kind of online money transfer service. With no transaction fees and bank-beating exchange rates we offer a better alternative for Aussies sending money to/from Australia.
Flash Payments can also help you keep on track of currency movements so you never miss a good time to transfer money overseas. Our rate alert feature lets you receive emails updates when the Australian dollar has reached your desire rate.
Flash Payments helps Aussie expats save when transfering money overseas. Sign up today to start saving.