This Chinese City is Most Expensive in the World for Expats

By That's PRD, June 28, 2018

With parking spots selling for millions and even more unaffordable housing, it's no wonder that Hong Kong has once again been named the most expensive city in the world for expats in a recently released report. The March study comes from consulting firm Mercer, which uses USD as a standard currency to rank cities based on costs of over 200 goods and services.

This year, four Asian metropolises ranked in the top five most expensive cities for foreigners: in addition to Hong Kong, Tokyo (2), Singapore (4) and Seoul (5) also topped the list.

On the Chinese mainland, Shanghai also snagged number 7 while Beijing was a relatively cheaper 9th place, both higher than last year's rankings.

According to Yvonne Traber, Mercer's Global Mobility Product Solutions Leader, “Stronger Chinese monetary regulation, a flourishing economy and a push to have the Chinese Yuan as an international currency pushed Chinese cities up in the ranking."

Hong Kong, which also ranked number one in Mercer's 2015 report, had the most expensive gasoline of all cities surveyed, not to mention an eyebrow-raising price of USD7.74 for a cup of coffee (still well under Seoul's USD10 pricetag). But when it comes to living costs, South China Morning Post reports, the Special Administrative Region's rent – USD7,641 monthly for a two-bedroom apartment – not only soundly trumps cities like NYC, but has also risen steadily over the last year and a half.

See below for the top 10 most expensive cities for expats around the world:

1. Hong Kong
2. Tokyo
3. Zurich
4. Singapore
5. Seoul
6. Luanda
7. Shanghai
8. N’Djamena
9. Beijing
10. Bern

The rise of living costs for foreign workers in Hong Kong and the mainland may come at a time when professionals around the world are more reluctant to move abroad for work, according to a survey by Boston Consulting Group released on Monday. As cited by CGTN, 57 percent of those surveyed said they would be willing to go to another country to work, compared to 64 percent in 2014.

For more about the Mercer study, including graphics and the full ranking, click here.

[Cover image via Diliff/Wikimedia]