A recent survey of 209 cities concluded that of the world’s priciest cities, Hong Kong tops the list. Mercer’s Survey names the Asian capital as the most expensive place for expatriates to reside.
The survey also shows that given the possible United Kingdom exit from the EU, the British capital has dropped from the 12th most expensive position to the 17th most expensive place for expats.
This invariably means that UK is now cheaper than New York, Beijing, Tokyo and Zurich. Generally, the survey reveals that there is a major drop in the ranking of cost of living in the United Kingdom.
As it is, the United Kingdom is currently more affordable that Angola’s capital, Luanda and Chad’s capital, N’Djamena.
Mercer Consulting firm came to the conclusion by comparing the affordability of basic consumer goods. The company carefully studied the prices of over 200 items in order to arrive at their recent priciest ranking. It also examined transportation costs and housing to obtain the most expensive cities of the world.
According to Mercer, the world’s largest human resources consulting firm, the ranking for the world’s priciest city was generally affected by “volatile markets and stunted economic growth in many parts of the world”.
From nation to nation the obtained results are compared to the standard in New York – the most economically successful city in the world. Judging from this, Hong Kong currently leads as the most expensive city in the world.
On the reverse, Mercer also named the cheapest cities in the world for expatriates as the capital of Namibia, Cape Town, and Bishkek in Kyrgyzstan.
These are the world’s priciest cities for expatriates to reside in:
10. Beijing, China
2. N’Djamena, Chad
8. Geneva, Switzerland
7. Shanghai, China
6. Kinshasa, Democratic Republic of Congo
5. Tokyo, Japan
3. Zurich, Switzerland
2. Luanda, Angola
1. Hong Kong