Hong Kong has become the world’s most expensive city for expatriates third continuously According to financial consulting firm Mercer, release Its cost of living city ranking 2024.
Singapore ranked second, followed by the Swiss cities of Zurich, Geneva, Basel and Bern, while New York, London, Nassau and Los Angeles ranked seventh, eighth, ninth and tenth respectively.
On the other hand, the cheapest city for expatriate workers is Abuja in Nigeria, followed by the Nigerian city of Lagos and the Pakistani capital of Islamabad.
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According to Mercer, the top cities are at the top because of the high costs of housing, transportation, and goods and services. In contrast, the cheapest cities are relatively inexpensive for expats because the value of their currencies has fallen significantly.
Other Asian cities that ranked high on the list include Shanghai, Beijing and Seoul, which ranked 23rd, 25th and 32nd respectively.
The annual rankings are determined by analysing the prices of more than 200 items including transport, household goods and food in 226 cities.
Although Hong Kong ranked third for three consecutive years, it fell to Second place Ashgabat in Turkmenistan saw a surge in living costs in 2021 due to inflation and the rise of a black market for foreign exchange. Ashgabat did not make the list this year.
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