New York City is now the world’s most expensive city to live in as an expat. The Big Apple replaced Hong Kong from the top position, according to ECA International’s Cost of Living Rankings for 2023.Apart from New York City, three other US cities have been ranked on ECA International’s list of most expensive cities for expats.

The rising cost of rented properties and inflation are the primary factors behind New York City topping ECA International’s latest Cost of Living Rankings. It is worth noting that no Indian city has made it to the list. Other prominent cities on the list include London, Singapore, Tel Aviv, Geneva, Dubai, Seoul, Beijing and Zurich.Let us take a look at the world’s 10 most expensive cities for expats in 2023.

1. New York City, US – It is one of the world’s much-sought-after commercial and financial hubs. New York City’s first ranking isn’t really surprising since it is often associated with an exorbitant cost of living.

2. Hong Kong, China - Hong Kong’s housing market is known for having sky-high rates. The autonomous region occupied the top spot in last year’s rankings.

3. Geneva, Switzerland - Geneva has retained its third spot in the rankings. Some reports suggest that almost a third of expats in Geneva earn more than $2,00,000 a year.

4. London, UK – Pricey residential properties and hospitality services make London a very expensive city for expats .

5. Singapore - The Southeast Asian financial hub climbed from 13th place last year to break into the top five in the latest rankings. Singapore has defied the general trend of Asian cities slipping down the rankings.

6. Zurich, Switzerland – Although this picturesque Switzerland city offers great living conditions, it costs a fortune for expats.

7. San Francisco, US – California’s San Francisco is the second American city to feature on the list of the top 10 most expensive cities for expats. A strong dollar and high inflation are the reasons behind San Francisco’s surge in the rankings.

8. Tel Aviv, Israel – Tel Aviv is the most expensive city for expats in the Middle East.

9. Seoul, South Korea – Seoul’s ninth rank on this list can be explained by the city’s extremely high real estate costs.

10. Tokyo, Japan - Japan’s capital city boasts extensive public transportation, an eclectic range of restaurants, and nightlife experiences. But, it is one of the most expensive Asian cities for expats.