Higher pricing and a stronger currency have allowed Asian cities to remain successful and stronger in all respects in the face of COVID.
In the top five, London and Tokyo stand out.
In both London and New York, rents were steadily increasing.
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Most costly cities in the world
For the third year in a row, Hong Kong has been named one of the world’s most expensive cities for expats.
New York and Geneva are ranked second and third, respectively.
The cities became pricey due to rising rental expenses of 20% and 12% in London and New York, respectively.
Despite an increase in rents, utilities, and gasoline prices, Singapore’s cost of living remains reasonable, ranking 13th. After the later part, the Singapore dollar fell in value relative to other currencies.
Most Japanese cities’ rankings have fallen as the yen has depreciated.
The ranking of Chinese cities has improved, and the ‘Yuan’ currency has risen. Shanghai and Guangzhou are currently ranked eighth and ninth, respectively.
The top 20 most expensive places in the world for expats
|City Name||2021 Ranking|
|New York, US||4|
|Tel Aviv, Israel||7|
|Seoul, South Korea||8|
|San Francisco, US||15|
The petrol costs have grown largely to 37 percent over the globe, however Beirut has a record level increase of 1128 percent in petrol charges.
The war in Ukraine made the cooking oil costs go high by about 25 percent across the globe, and most of the cities’ ranking changed compared to 2021.
Ankara city in Turkey is labelled the cheapest city internationally by moving down five spots to 207th for foreigners.
The petrol price is $0.09 per liter in Tehran, which is considered the cheapest fuel price around the globe.
Hong Kong leads the list with the following pricing cup of coffee at $5.21 per litre, fuel price at $3.04 per litre, and tomatoes at $11.51 per kilo.
Hong Kong has seen global inflation previous year with the surge in costs. Hence it stands out to be the most expensive location in the world.
Hong Kong’s dollar raises strong, relying on the US dollar; this allowed Hong Kong to become the most costly place worldwide as the other cities’ currencies have fallen.
The newest poll covers ranks of 207 cities in 120 countries.
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