Hong Kong is the world's most expensive city whilst Tokyo, Singapore, and Seoul also made it to the list.
Six APAC cities placed in ten of the most expensive locations for expatriates. Hong Kong topped as the world’s most expensive city for expats to live in, according to a Mercer report.
Following Hong Kong is Tokyo at the second spot. Singapore and Seoul clinched their way as fourth and fifth, respectively.
China’s Shanghai and Beijing rose to the seventh and ninth spots, respectively.
“The strengthening of the Chinese yuan pushed Chinese cities up in the ranking,” Mercer principal Slagin Parakatil said.
Meanwhile, rankings for Australian cities have slipped over depreciation of the local currency against the US dollar. Brisbane (84) and Perth (61), and Melbourne (58), and Sydney (28) dropped 13, 11, 12, and five spots, respectively.
“Across the board, currency fluctuations and inflation for goods and services drive up the cost of living in Asian cities,” Mercer global mobility practice leader for Asia, Middle East, Africa, and Turkey Mario Ferraro explained.
In India’s case, Mumbai (55) is the most expensive city for expats, followed by New Delhi (103) and Chennai (144) whilst Kolkata (182) and Bengaluru (170) are the country’s cheapest residence for expats.
Southeast Asian cities jumped places with Bangkong up 15 spots to 52 and Kuala Lumpur up 20 spots to 145. Meanwhile, Hanoi plummeted 37 spots to 137th place.
The study also found out that fuel which costs US$2 per liter in Hong Kong is most expensive in Hong Kong whilst it falls around US$1.5 per liter in Singapore.
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