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The most expensive cities to live for expats in 2022 – ranking and list

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For the second year in a row, Hong Kong is the most expensive city in the world to live in for expats, or high-class specialists working abroad, according to a ranking by Fortune magazine. The second and third places in the ranking were taken by New York and Geneva.

According to the organization ECA International, which conducted the study, higher prices and a stronger currency over the past year have placed the Asian city at the top. London and Tokyo close the top five. Rising rental costs were one of the reasons London and New York placed in the top five, with rents in these cities increasing by 20%, respectively. and 12 percent – we find out from the warehouse.

The most expensive cities to live in 2022

Singapore remained in 13th place despite a significant increase in rents, gasoline prices and media. They were offset by the weakening of the Singapore dollar against other regional currencies in the latter part of the survey period, the ECA reported. All Japanese cities fell in the rankings as the yen weakened, while Chinese cities rose – Shanghai and Guangzhou respectively 8th and 9th – thanks to the stronger yen, “Fortune explained.

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The magazine also provided several conclusions from the survey:
gasoline prices increased by an average of 37 percent. compared to the previous year in all cities, while Beirut increased by 1128%, – Ankara in Turkey is the cheapest city in the world for emigrants, after dropping five places to 207th place, – as a result of wars in Ukraine cooking oil prices rose by an average of 25 percent last year. in all cities in the ranking, – fuel prices in Tehran were the cheapest, and a liter of gasoline cost only $ 0.09, – a cup of coffee for $ 5.21, a liter of gasoline for $ 3.04 and a kilogram of tomatoes for $ 11.51 . these are just some of the prices that have brought Hong Kong to the top of the list.

– Although Hong Kong had a lesser impact on the rise in global inflation than other cities last year, it remains the most expensive location in the world – said Lee Quane, CEO of ECA International for Asia, quoted in a press release.

He added: “ It was the strength of the Hong Kong dollar, which is pegged to the US dollar, that last year allowed it to remain the most expensive location in the world as other currencies weakened.

ECA International analyzes the cost of consumer goods and services in more than 490 locations worldwide, and also takes into account accommodation data, comparing rental costs in areas typically inhabited by expatriate workers in more than 410 locations worldwide. The latest report covers 207 cities in 120 countries.

Here are the 20 most expensive cities to live in the world according to Fortune magazine:

1. Hong Kong (ranking from 2021: 1), 2. New York, USA (4), 3. Geneva, Switzerland (3), 4. London, Great Britain (5), 5. Tokyo, Japan (2), 6. Tel Aviv, Israel (7), 7. Zurich, Switzerland (6), 8. Shanghai, China (9), 9. Canton, China (10), 10. Seoul, South Korea (8), 11. San Francisco, USA (15), 12. Shenzhen, China (12), 13. Singapore (13), 14. Beijing, China (16), 15. Jerusalem, Israel (18), 16. Bern, Switzerland (17), 17. Yokohama, Japan (11), 18. Copenhagen, Denmark (14), 19. Oslo, Norway (19), 20. Taipei, Taiwan (21).

Main photo source: Shutterstock

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