Hong Kong has ranked as the most expensive city to live and work overseas in, according to a new report highlighting the economic fallout of the coronavirus pandemic on the expatriate market.
The city maintained its costly crown for the third year running while Ashgabat, Turkmenistan jumped five spots to steal second place, in part due to currency fluctuations, Mercer’s 2020 Cost of Living Survey showed.
The research, which ranks 209 cities globally, was conducted in March 2020, just as the pandemic unfolded globally.
Japan’s capital Tokyo rounded out third place in a top 10 list dominated by Asian cities, including Singapore (5th) and Chinese megacities like Shanghai (7th) and Beijing (10th).
Europe, meanwhile, was represented in the top ranks by three Swiss cities: Zurich (4th); Bern (8th); and Geneva (9th). New York City was the only U.S. city to emerge in the top 10.
- Hong Kong, China
- Ashgabat, Turkmenistan
- Tokyo, Japan
- Zurich, Switzerland
- New York, United States
- Shanghai, China
- Bern, Switzerland
- Geneva, Switzerland
- Beijing, China.