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Hong Kong has been named as the most expensive city to live in the world for an expat, according to one of the most comprehensive surveys of its kind.
The 24th annual Cost of Living Survey survey has been conducted by Mercer, the world’s largest human-resources consultancy firm. They ranked 209 cities where companies commonly send employees on international corporate assignments. The survey gives companies an insight into international living costs to help them calculate compensation for expat staff.
Using New York as the base of all comparisons, Mercer looked at the cost of living and rental prices, as well as currency movements measured against the US dollar. Cost of living is deduced by researching the prices of more than 200 items, including housing, transportation, food, clothing, household goods, and entertainment.
Steep housing prices in Hong Kong was the main reason it came out the most expensive. Monthly rent for a three-bedroom unfurnished house of international standards in an appropriate neighborhood costs $13,424 (approx’ £10,119) on average. In London, it would cost $6,991 (approx’ £5,269) in London.
Tashkent in Uzbekistan is the cheapest city in the world for expats.
2018 Mercer ranking City Country
1 Hong Kong China’s special administrative region (SAR)
2 Tokyo Japan
3 Zurich Switzerland
4 Singapore Singapore
5 Seoul South Korea
6 Luanda Angola
7 Shanghai China
8 N’Djamena Chad
9 Beijing China
10 Bern Switzerland
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