Sigh. Hong Kong is the second most expensive city for expats to live in Asia and the sixth most expensive in the world, according to a recently published survey.
The Cost of Living study, released by ECA International this week, shows the city rose three spots in the global rankings from ninth priciest in 2017.
Why, you ask? Well, according to ECA’s regional director for Asia Lee Quane the strength of the Hong Kong dollar was one reason the city shot past Tokyo and Oslo, where currencies have been slightly weaker.
The survey, conducted twice a year, compare prices of similar goods and services across 450 locations around the world.
(Living costs — such as rental rates, utilities, car costs and school fees — are not included in the research)
Across on the mainland, all of the 14 cities surveyed were in the global top 50, with Shanghai the most expensive, ranked 14th.
Taiwan’s capital and Macau also rose in the rankings, hitting 31st and 25th respectively.
Singapore, meanwhile, found itself back in the global top 20, after dropping out last year. Bangkok, for the first time, entered the top 100, and is now the 90th most expensive city for expats.
Officially, the most expensive city in the world for expats was capital of Turkmenistan, Ashgabat.
Though the surge — from 146th last year — comes amid an economic crisis that has sent inflation soaring.
So technically we’re the most expensive in Asia. Sigh.
Top ten most expensive locations 2018 – Asia
- Ashgabat, Turkmenistan
- Hong Kong
- Seoul, Korea Republic
- Tokyo, Japan
- Busan, Korea Republic
- Shanghai, China
- Yokohama, Japan
- Nagoya, Japan
- Singapore
- Osaka, Japan
Top ten most expensive locations 2018 – Global (2017)
- Ashgabat, Turkmenistan (146)
- Geneva, Switzerland (4)
- Zurich, Switzerland (3)
- Basel, Switzerland (5)
- Bern, Switzerland (6)
- Hong Kong (9)
- Seoul, Korea Republic (11)
- Tokyo, Japan (8)
- Oslo, Norway (7)
- Stavanger, Norway (10)
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