Venezuela

Caracas named most expensive destination for expats

by moveforward on January 4, 2014

Caracas named most expensive destination for expats

Caracas named most expensive destination for expats

The fact that Caracas, the capital of Venezuela, has been named as the most expensive destination in the world for expats will come as no surprise to those with knowledge of the region. Despite the fact that Venezuela has an abundance of natural resources, dominated by the oil sector, mismanagement, corruption and a lack of investment have all come together to create a nightmare scenario.

The survey by ECA International highlights the move by Caracas from seventh place in the previous report to top spot today. So, what is the situation in Venezuela, why is Caracas under so much pressure and why such a rise in the cost of living? [click to continue…]

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