The Africa and Nigeria financial hub city Lagos, has ben listed among most expensive city in the world for startup based on the ground of residential accomodation and office.
Recent report by Savills, ranked Lagos as the 12th most expensive city in the world for startup to rent and occupy office space and for housing rent for their employees.
How the cities ranked
According to report which puts annual cost per employee at $45, 817.89, which interestingly makes Lagos appear 27% more affordable for internationals.
However, considering that local real estate prices are denominated in naira, this has an increasing effect on Lagos residents as it means that they will have to exchange more naira to match the dollar equivalent. The city of New York tops the list at $114,009.57 annual cost per employee. Other cities ranked as follows
- New York City, US — $114,009.57
- Hong Kong — $100,984.26
- London, UK — $100,141.30
- Tokyo, Japan — $85,331.53
- Paris, France — $82,880.61
- San Francisco, US — $66,268.65
- Singapore — $61,335.24
- Dubai — $53,913.42
- Sydney, Australia — $50,768.12
- Los Angeles, US — $50,215.30
- Miami, US — $49,946.99
- Lagos, Nigeria — $45,817.89
- Chicago, US — $45,456.61
- Dublin, Ireland — $45,147.20
- Moscow, Russia — $43,966.29
- Shanghai, China — $42,577.81
- Berlin, Germany — $29,933.07
- Mumbai, India — $28,592.46
- Johannesburg, South Africa — $20,905.43
- Rio de Janeiro, Brazil — $19,188.89