Understanding the cost of living in major cities around the globe is essential for expatriates. The latest Mercer report has revealed the most expensive cities for expats in 2018. Here’s a detailed overview of these high-cost locations.
1. Hong Kong (China)
Hong Kong tops the list as the most expensive city in the world for expatriates. Its high concentration of luxury stores and astronomical property prices contribute significantly to the living costs. A parking space can even cost $760,000.
2. Tokyo (Japan)
Tokyo remains a major economic hub with an impressive cost of living driven by high rents and a thriving market.
3. Zurich (Switzerland)
Zurich is home to many prominent Swiss brands and has robust financial sectors. Its stunning scenery and high quality of life may come at a steep price.
4. Singapore
Singapore continues to attract expatriates due to its favorable business environment, albeit at a substantial cost.
5. Seoul (South Korea)
A significant year for South Korea featuring high-profile events has influenced its costs significantly, making it a top destination for many.
6. Luanda (Angola)
Luanda, known as the “Paris of Africa,” offers high living costs largely due to its oil and diamond wealth.
7. N’Djamena (Chad)
N’Djamena is one of the two African cities in the top 10, reflecting its status as a key economic hub.
8. Beijing (China)
The strong economic performance in Beijing has resulted in its high ranking as a costly city for expatriates.
9. Bern (Switzerland)
Bern, with its picturesque landscapes and historical significance, is another Swiss city that remains popular among expatriates.
10. Budapest (Hungary)
Discover why Budapest has emerged as a compelling choice for expatriates, albeit with rising living costs.
Conclusion
In summary, these cities represent some of the most challenging environments for expatriates due to their steep costs of living. However, their unique attributes can provide rewarding experiences for those seeking international opportunities. If you’re considering moving, it’s essential to be financially prepared and informed about what to expect in these pricier locales.
