These are the world’s 20 most expensive cities for expats
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Hong Kong is the world’s most high-priced city to dwell in as an expat for the second yr in a row, according to a new study. New York and Geneva took 2nd and third position in the rankings.
Greater prices and a more powerful currency over the past 12 months stored the Asian town at the prime of the tree, in accordance to ECA Intercontinental, which carried out its investigation in March this yr. London and Tokyo round out the best 5.
Soaring rental expenditures have been section of the purpose London and New York took their positions in the top rated five, with lease in those cities growing 20% and 12% respectively.
Elsewhere in the Cost of Living report, Singapore stayed in 13th place despite significant rises in rent, petrol prices and utilities. Individuals have been offset by the Singapore dollar weakening against other regional currencies through the latter section of the study period, ECA mentioned. Japanese towns all fell down the ranks as the yen weakened, whilst Chinese metropolitan areas rose — with Shanghai and Guangzhou using 8th and 9th positions respectively — on a more robust yuan.
Right here are some extra of the survey’s conclusions:
- Petrol prices climbed on common 37% in contrast to a 12 months earlier across all towns, while Beirut recorded a 1,128% enhance
- Turkey’s Ankara is the most inexpensive town in the planet for expats, just after falling 5 places to 207th position
- War in Ukraine observed cooking oil price ranges increase an typical of 25% past 12 months across metropolitan areas in the ranking
- Tehran’s gas selling prices were most inexpensive, with a litre of petrol costing just $.09
- A cup of coffee at $5.21, a litre of petrol at $3.04 and a kilo of tomatoes at $11.51 were just a few of the charges that took Hong Kong to the major of the list
“Although Hong Kong has been impacted by soaring worldwide inflation significantly less than other regional and international areas in the past calendar year, it nevertheless stays the most high-priced area in the earth,” a press release quoted ECA International’s Regional Director for Asia, Lee Quane, as declaring.
“It has been the strength of the Hong Kong dollar, which is pegged to the US greenback, in the past calendar year which has enabled it to keep its placement as the most costly site around the world as other currencies have weakened.”
ECA Intercontinental analyses the cost of client products and expert services in extra than 490 areas around the world, while accommodation data is also factored in, evaluating rental prices in areas ordinarily inhabited by expatriate staff in more than 410 locations all over the world. The most current report ranks 207 towns in 120 nations.
Right here are the world’s leading 20 most high-priced areas for expats (with the March 2021 ranking in parentheses):
- Hong Kong (2021 ranking: 1)
- New York, US (4)
- Geneva, Switzerland (3)
- London, United kingdom (5)
- Tokyo, Japan (2)
- Tel Aviv, Israel (7)
- Zurich, Switzerland (6)
- Shanghai, China (9)
- Guangzhou, China (10)
- Seoul, South Korea (8)
- San Francisco, US (15)
- Shenzhen, China (12)
- Singapore (13)
- Beijing, China (16)
- Jerusalem, Israel (18)
- Bern, Switzerland (17)
- Yokohama, Japan (11)
- Copenhagen, Denmark (14)
- Oslo, Norway (19)
- Taipei, Taiwan (21)
© 2022 Bloomberg
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