According to Mercer, a global consultancy firm based in New York, Hong Kong is the most expensive place for expats. An expat is someone who lives outside of their home country.
This annual survey is based upon research that is done twice a year and includes data on more than 200 products and services. It covers categories like food, housing, personal and other care. High inflation is a growing concern for families, governments, businesses, and workers around the globe.
These are the 10 most expensive locations for expatriates who want to live and work overseas.
Hong Kong, a Special Administrative Region of China, is one of the most expensive places in the world to live. This business hub is well-known for its skyscrapers, beautiful skyline views and iconic skyscrapers. It will be a high-priced place to call home for expats.
2. Zurich, Switzerland
With four cities on the top ten list, Switzerland is the most populous country. Zurich, the largest city in Switzerland, is also known as a major financial center.
3. Geneva, Switzerland
Geneva is second in Switzerland after Zurich in terms of cost of living. Many international organizations have their headquarters in the city.
4. Basel, Switzerland
Basel is Switzerland’s third-largest city. It is well-known for its architecture, and it has a vibrant art scene. Art Basel is an international art festival that takes place annually in the city.
5. Bern, Switzerland
Although Switzerland does not technically have a capital, Bern is the official capital. This beautiful Swiss city is home to the federal government and boasts stunning views.
6. Tel Aviv, Israel
Tel Aviv, a city on the Israeli coast, is well-known for its nightlife and beautiful beaches. It also boasts more Bauhaus-style buildings that any other city.
7. New York City, U.S.
New York City, also known as the Big Apple in America, is America’s most populous city. Experts believe that New York City is home to 800 languages. This makes it a great place for international tourists, but not necessarily for their wallets. It ranks eighth on this list and is the most expensive place to live in the U.S.
8. Singapore
The Malay Peninsula island city-state ranks among the top ten this year. It has become not only one of the top financial centers in the world, but also one its greenest. The government claims that nearly half of Singapore’s land is covered by greenery.
9. Tokyo, Japan
Tokyo, Japan’s capital, is a mixture of ultramodern and traditional architecture. It boasts neon-lit buildings and historical temples that adorn the skyline. Shinjuku Station is the city’s busiest train station, with an estimated 3.6million commuters daily.
10. Beijing, China
Beijing, the capital of China is located in the northeastern region of the country. It is also the second-largest Chinese city by population. Beijing is home many famous attractions such as the Great Wall of China and the Forbidden city.
