Consulting firm Mercer has compiled a list of the world’s most expensive cities for expatriates. The study compared the prices of 200 essential expenses ranging from household goods and entertainment to housing, transport, food and clothing. The prices in New York City were used as the benchmark. Scroll down for the complete list. (Image: Reuters)
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10 Shenzhen, China | The report noted that the foreign investment that was entering Asia had prompted expatriates drive the demand for high quality goods, services and accommodation. (Image: Reuters)
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9 New York, US | This is the only American city to make it to the top 10; several cities in the United States climbed up in their rankings over the dollar’s strength. (Image: Reuters)
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8 Beijing, China | The main purpose of the study was to act as a guide for major corporations to decide on reasonable pay packages for their highly-skilled employees. (Image: Reuters)
7 Ashgabat, Turkmenistan | This is the other outlier in the list, the study noted that the country jumped 36 places to the seventh position over a shortage of its currency and imported goods raising prices. (Image: Reuters)
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6 Shanghai, China | The report noted that despite the high costs of living, many companies are finding it feasible to set up their businesses in these cities, though with a clear idea on the return on their investment involved. (Image: Reuters)
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5 Zurich, Switzerland | This is the only European city that has made it to the top 10 list. This is due to weakened local currencies against the dollar, unease over Brexit and an escalating trade war. (Image: Reuters)
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4 Seoul, South Korea | The city has gained one rank from the number five spot in 2018. (Image: Reuters)
3 Singapore | The island city has gained one rank from the number four spot in 2018. (Image: Reuters)
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2 Tokyo, Japan | The capital city of Japan has kept its number two position as the steep costs of housing is bloating the overall cost of living. (Image: Reuters)
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1 Hong Kong | The city has retained its title as the world’s most expensive city for expatriates over the strong demand for quality accommodation which is popular with expatriate communities. (Image: Reuters)
