“Although Hong Kong has been impacted by rising global inflation less than other regional and global locations in the past year, it nonetheless remains the most expensive location in the world,” a press release quoted ECA International’s  Regional Director for Asia, Lee Quane, as saying.

“It has been the strength of the Hong Kong dollar, which is pegged to the US dollar, in the past year which has enabled it to maintain its position as the most expensive location worldwide as other currencies have weakened.” 

ECA International analyses the cost of consumer goods and services in more than 490 locations worldwide, while accommodation data is also factored in, comparing rental costs in areas typically inhabited by expatriate staff in over 410 locations worldwide. The latest report ranks 207 cities in 120 countries.

Here are the world’s top 20 most expensive places for expats (with the March 2021 ranking in parentheses):

  1. Hong Kong (2021 ranking: 1)
  2. New York, US (4)
  3. Geneva, Switzerland (3)
  4. London, UK (5)
  5. Tokyo, Japan (2)
  6. Tel Aviv, Israel (7)
  7. Zurich, Switzerland (6)
  8. Shanghai, China (9)
  9. Guangzhou, China (10)
  10. Seoul, South Korea (8)
  11. San Francisco, US (15)
  12. Shenzhen, China (12)
  13. Singapore (13)
  14. Beijing, China (16)
  15. Jerusalem, Israel (18)
  16. Bern, Switzerland (17)
  17. Yokohama, Japan (11)
  18. Copenhagen, Denmark (14)
  19. Oslo, Norway (19)
  20. Taipei, Taiwan (21)

This article was provided by Bloomberg News.

 

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