According to Mercer’s 2024 Cost of Living ranking, Yerevan is the most expensive city in the South Caucasus for expatriates.

Yerevan ranked 115th globally, dropping 15 positions compared to 2023 but still surpassing other regional capitals in living costs. Baku ranked 171st, while Tbilisi came in at 188th.

Globally, the most expensive cities for international assignments are Hong Kong, Singapore, and Zurich, maintaining their top rankings from 2023.

The cheapest cities for expats are Islamabad (Pakistan), Lagos, and Abuja (both in Nigeria).

The report highlights that political tensions, regional conflicts, and emergencies have driven up costs in housing, utilities, and other sectors. Additionally, inflation and currency fluctuations are significantly affecting the incomes and savings of mobile workers.