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Mercer compared the cost of over 200 items in cities around the world. The study also revealed that eight of the ten most expensive cities are in Asia. Hong Kong ranked first in 2019 (for the second consecutive year), while Tokyo, Singapore, Seoul, and Zurich were also in the top five.
10 most expensive cities for foreigners:
- Hong Kong
- Tokyo, Japan
- Singapore
- Seoul, South Korea
- Zurich, Switzerland
- Shanghai, China
- Ashgabat, Turkmenistan
- Beijing, China
- New York, United States
- Shenzhen, China
Hong Kong
According to Mercer's statistics, the cheapest cities for foreigners in 2019 were Tunis in Tunisia, Tashkent in Uzbekistan, and Karachi in Pakistan.
10 cheapest cities for foreigners:
- Tunis, Tunisia
- Tashkent, Uzbekistan
- Karachi, Pakistan
- Bishkek, Kyrgyzstan
- Banjul, Gambia
- Windhoek, Namibia
- Islamabad, Pakistan
- Tbilisi, Georgia
- Skopje, Macedonia
- Managua, Nicaragua
Tunis, Tunisia
According to Mercer, the main reason why Hong Kong, and Asian cities in general, are so expensive is the booming real estate market. High demand and low supply have driven property prices in Hong Kong to uncontrollable levels in recent years. The Hong Kong government is planning to build an $80 billion artificial island to address this situation. Mercer also noted that the pegging of the Hong Kong dollar to the US dollar also contributes to the increased cost of living. Vietnam has two cities included in the ranking: Hanoi and Ho Chi Minh City. Globally, Hanoi ranks 112th in terms of expensiveness, a jump of 25 places compared to 2019. The cost of living in Ho Chi Minh City increased by 4 places, to 120th.
The items analyzed in Mercer's report are diverse: from alcohol, clothing, and food to entertainment and housing. A typical Big Mac meal from McDonald's is the most expensive in Zurich, Switzerland, costing nearly $15. Hong Kong is the most expensive location for consumers to buy petrol or a cup of coffee in a fancy café, while Londoners pay the most for movie tickets.
The report also analyzed how the cost of living has changed in recent years. In eight of the 17 Chinese cities surveyed, the price of an international beer brand increased from 2014 to 2019. A night out in China – including two movie tickets, a steak dinner for two, and two cups of coffee – increased from $136 in 2009 to $163 in 2019. Meanwhile, in Mexico City, the cost of a night out increased by more than 40% year-on-year. Specifically, a date night would cost $90 in the Mexican capital in 2019.
New York, USA
US cities rose in the rankings in 2019 due to the strong US dollar. New York – the North American hub – climbed four places and was named the ninth most expensive city for foreign workers. This year, San Francisco, ranked 16th, jumped 12 places from 2018, while Los Angeles, at 18th, climbed 17 places compared to the same period last year. Washington, D.C., Miami, and Boston made it into the top 50 most expensive cities. Meanwhile, Portland, Oregon, and Winston Salem, North Carolina, were among the cheapest cities in the US for expats.
Elsewhere, Dubai is ranked as the 21st most expensive city in the world, while London comes in at 23rd. Mumbai is the most expensive city in India, and Sydney holds the top spot in Australia.
In South America, the Brazilian cities of Sao Paulo and Rio de Janeiro both dropped 22 places in the rankings. Canadian cities remained stable, with Vancouver, Canada's most expensive city, ranking 112th globally.
