Moving to a new city can be expensive, but if a person is an expat, the cost of living in a new city increases significantly. Mercer’s 2023 Cost of Living City Rankings reveal the most expensive cities in the world and here’s everything you need to know.
According to Mercer’s 2023 Cost of Living City Rankings, Hong Kong ranks first, while Islamabad in Pakistan is the least expensive city at 227th.
Here is the list of the 25 Most Expensive Cities:
|
City name |
Country |
|
Hong Kong |
Hong Kong SAR) |
|
Singapore |
Singapore |
|
Zurich |
Swiss |
|
Geneva |
Swiss |
|
Basel |
Swiss |
|
NY |
USA |
|
Bern |
Swiss |
|
Tel Aviv |
Israel |
|
Copenhagen |
Denmark |
|
Nassau |
bahamas |
|
Los Angeles California |
USA |
|
Carry off |
Porcelain |
|
Beijing |
Porcelain |
|
San Francisco, CA |
USA |
|
Honolulu, Hawaii |
USA |
|
Seoul |
South Korea |
|
London |
United Kingdom |
|
Dubai |
United Arab Emirates |
|
Tokyo |
Japan |
|
Shenzhen |
Porcelain |
|
Boston, Massachusetts |
USA |
|
Miami Florida |
USA |
|
Washington D.C. |
USA |
|
Chicago, IL |
USA |
|
Vienna |
Austria |
India’s seven largest cities ranked 147th to 213th in the list. Mumbai was ranked 147, followed by New Delhi at 169, Chennai at 184, Bengaluru at 189, Hyderabad at 202, Kolkata at 211 and Pune at 213.
Rahul Sharma, India Mobility Leader at Mercer, stated “We have observed a change in the relative positioning of Indian cities in the global ranking, which can be attributed to multiple factors.
“In particular, the change in order is partly influenced by monetary volatility and inflationary rise in prices of goods and services in other regions, such as Europe, which has played a role in lowering the overall ranking of Indian cities “.
According to Mercer’s website “High inflation and market fluctuations impact the cost of living around the world, impacting our purchasing power and standard of living.”
Why is living in a new city expensive for expats?
Moving to a new city can be exciting and rewarding, but it comes with significant costs. Expats face a higher cost of living due to a variety of factors:
Housing: When moving to a new place, expats need a roof over their heads and rents in major cities can be quite high, making it difficult to find affordable housing.
Food: Compared to rural areas, restaurants and grocery stores have higher food costs.
Transportation: Generally, foreigners do not have the possibility to bring their personal vehicles to their new life and that is why they have to depend on public transportation, which can burn a huge hole in the pocket.
Utilities: Utilities, such as electricity, water, and gas, can also be more expensive in major cities.
Other Expenses: Other expenses, such as clothing, entertainment, and healthcare, may also be higher in major cities.
To conclude, knowing the most expensive cities for expats in 2023 is crucial for people or companies planning to relocate or expand internationally. Mercer’s extensive research provides valuable information on the cost of living and the factors that influence the ranking of these cities.
Categories: Optical Illusion
Source: sef.edu.vn