It’s back in the top ten after falling short at eleventh place last year.
After falling from the top ten last year, Hong Kong manages to secure the ninth spot in the world’s most expensive locations for expatriates and second in the Asia-Pacific region, according to the latest cost of living survey published by ECA International.
Hong Kong fell short last year as it fell to eleventh place but has now risen two notches up the global list and even snagged the second spot in the Asia-Pacific region.
“It now has the second highest cost of living of any city in the Asia-Pacific region, only behind Tokyo, up from fifth this time last year. Faster rates of price increases in Hong Kong combined with a strengthening of the dollar against the yen both contributed to Hong Kong leapfrogging many of the Japanese locations that were ranked above it last year,” said ECA International regional director Lee Quane.
Angola’s capital Luanda tops the list followed by Khartoum, Zurich and Geneva.
Japanese cities also dominated the global list as Tokyo, Nagoya and Osaka snagged eighth, nineteenth and twentieth spot.
ECA’s cost of living survey is carried out using a basket of day-to-day goods and services which covers food, basic household goods, general and leisure services, clothing, electrical goods, motoring, and alcohol and tobacco among others.
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