Asian cities in 5 of top 10 priciest expat destinations

Published:  19 Jun at 11 AM
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Asia is now among the world’s most expensive regions for companies to send foreign workers to live in, revealed the latest survey from Mercer, with five of the top 10 priciest destinations being in the east of the continent.

Hong Kong jumped from third place last year to second this time out, while Shanghai, Beijing and Seoul were also in the top 10.

Meanwhile Tokyo, which was the most expensive city for foreign workers in 2012 has now dropped out of the top 10 after falling from seventh to 11th in this year’s rankings, largely as a result in the weakness of the yen on the back of the country’s central bank’s massive easing programme.

The Angolan capital Luanda is currently the costliest place on earth for organisations to send expatriate workers to, with its high cost of living linked to the high price of imported products and the security services that many foreigners hire.

The change in rankings can be somewhat linked to currency fluctuations, with the yuan’s strengthening against the dollar forcing the cost of living up in China, where nine of the world’s 30 most expensive cities for expats now are.

The consulting group’s survey looks at the cost of more than 200 items in 207 cities worldwide such as housing, transport, food and entertainment.
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