A whopping 82% of respondents to a recent TMF Group website survey agree that cost of living affects their decision to invest in a country.
Unsurprisingly the cost of living pressures faced in some of the
world's most expensive cities makes a potential investor
reluctant to part with their money as investors don't believe
they will sufficient value for money.
In the recently released Savills' 12 cities index London and
Hong Kong top the list as the world's most expensive cities to
live in.
In comparison to London it is two times cheaper to live and work
in Sydney and four times cheaper to live and work in Rio de
Janeiro.
Soaring rents and the strong British pound are to blame for
London's first place position on the list.
According to Savills, property prices in London have jumped 18.4%
in the past year.
This result has put London and Hong Kong well ahead of places such
as Paris and Tokyo which round out the top five most expensive
cities in the world.
Savill's 12 Cities report is designed to asses relocation
costs companies face and measures the cost per employee of renting
living and working space.
Places such as Sydney, Dubai and Shanghai are considerably cheaper
to invest in and TMF Group CEO Frederik van Tuyll believes they
should be seriously considered before more expensive cities.
"Cities such as Sydney and Dubai offer a great opportunity
for those wanting to invest," Mr van Tuyll says.
"However that's not to say that investing in London and
Hong Kong is out of reach."
"At TMF Group we help businesses expand and invest
internationally."
"In more expensive cities such as London and Hong Kong
TMF Group can assist in controlling the costs for a company by
providing back office support."
"Our teams are able to provide hands on support to companies
looking to have a presence in either London or Hong
Kong."
Mr van Tuyll understands that when investing in a new and foreign
market it can be difficult to know exactly what is ahead of you and
there are often pitfalls at every turn.
"With constraints on time and a desire for a quick fix TMF
Group's QuickStart to Market Entry can help relieve the
headache of regulation and complexity and bring all the pieces
together," he says.
Click here to discover how QuickStart to Market Entry can help
you.
Our current webinar series on expanding in to the UK market can
help answer questions on zero hour contracts, challenges you may
face when recruiting, things to consider when looking for office
space and an overview of current benefit practice trends in the
UK.
Register here to find out more on how TMF Group can assist
you with your investment and expansion plans in foreign
markets.
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