Planning to work abroad? Check world's most expensive cities for expats

SUMMARY

If you are planning to move out of your country and work abroad, it’s better to have a fair idea of which cities could cost you a lot. Well, most of these are in Asia, the latest survey shows. According to Mercer's 2019 Global Talent Trends report, Hong Kong tops the list of the world’s most expensive cities for expats, followed by Tokyo. In fact, eight of the top 10 most expensive cities for overseas workers are in Asia. The ranking includes 209 cities across five continents and measures the comparative cost of more than 200 items in each location, including housing, transportation, food, clothing, household goods, and entertainment. Here’s the list:

By CNBC-TV18Jun 29, 2019 9:05:40 AM IST (Updated)

1: Hong Kong has retained its position as the most expensive city to live for expats. The city, that has seen a lot of unrest recently over fears of tightening influence of mainland China, is still seen as one of the key financial hubs in the planet.

2: At second position is the Japanese capital of Tokyo. The city, ranked as the most populous metropolitan area in the planet, is also the nerve centre of the Japanese economy.

3: Coming next in the ranking is theislandcity-state of Singapore. Ranked fourth in last year’s list, the island city rose to the third position in the new list.

4: Seoul, the South Korean capital came at fourth position compared to last year’s fifth. Despite its vulnerable position close to North Korea, the city has benefitted a lot from the economic boom that the country experienced since the end of the Korean War.

5: Coming at the fifth position is Zurich, the capital of Switzerland. The tourism and transportation hub is also the only European city to make it to the top ten.

6: China’s largest cityShanghai is the next in the list. The financial hub located in theYangtze river delta is also home for over 2.6 crore people.

7: A surprise entrant into the top ten list is Ashgabat, the capital city of Turkmenistan. The Central Asian city, formerly known as Poltoratsk, was ranked 43rd in the last year’s list.

8: China’s capital city Beijing is in the eighth position. Besides being a global financial hub, the city is home to many large state-owned companies.

9: New York City, the only North American city to make it to the top ten is at the ninth position. The city is at the very heart of the US economy.

10: Coming at the tenth position is Shenzhen, located in China’s Guangdong province. Located close to Hong Kong, the city has benefitted from foreign investment since the opening up of the Chinese economy.