Five of the 10 costliest places in the world for expatriates are in Asia-Pacific, a new survey from Mercer showed, and Bangkok (67) jumped seven places from last year.
With its dollar-pegged economy, Hong Kong remains the most expensive city in the region for workers abroad, second worldwide, according to the 23rd Cost of Living Survey by the health, wealth and career consultancy.
Five of the top 10 cities in this year’s ranking are in Asia.
Hong Kong (2) is the most expensive city as a result of its currency pegged to the US dollar, which drove up the cost of accommodations locally. This global financial center is followed by Tokyo (3), Singapore (5), Seoul (6), and Shanghai (8).
“The strengthening of the Japanese yen along with the high costs of expatriate consumer goods and a dynamic housing market pushed Japanese cities up in the ranking,” said Ms. Constantin-Métral.
“However, the majority of Chinese cities fell in the ranking due to the weakening of the Chinese yuan against the US dollar.”
Australian cities have all experienced further jumps up the global ranking since last year due to the strengthening of the Australian dollar.
Sydney (25), Australia’s most expensive city for expatriates, gained seventeen places in the ranking along with Melbourne (46) and Perth (50) which went up twenty-five and nineteen spots, respectively.
Bangkok jumped seven places from last year to 67th
Elsewhere in Asia, Bangkok (67) jumped seven places from last year. Jakarta (88) and Hanoi (100) also rose in the ranking, up five and six places, respectively. Karachi (201) and Bishkek (208) remain the region’s least expensive cities for expatriates.
India’s most expensive city, Mumbai (57), climbed twenty-five places and is now for the first time ahead of…
