Here Are The Most Expensive Cities To Live In as An Expat

American consulting firm Mercer has released its annual cost of living city ranking for 2021.

The list is based on its Cost of Living survey carried out twice a year, examining more than 400 cities and evaluating the prices of 200 categories of goods and services ranging from housing and utilities to footwear and tobacco. The study is meant to aid multinational companies and governments in determining proper compensation for expatriate employees. Take a look at the top ten rankings below:

1. Ashgabat
2. Hong Kong
3. Beirut
4. Tokyo
5. Zurich
6. Shanghai
7. Singapore
8. Geneva
9. Beijing
10. Bern

While most of the cities are expensive to live in due to high levels of wealth concentration, Ashgabat is an exception. The former USSR nation and capital of Turkmenistan is currently experiencing hyperinflation due to low oil prices and its overdependence on natural gas exports, unseating Hong Kong’s three-year reign as the least affordable city for international employees worldwide. Beirut, the Lebanese capital city is another outlier that climbed 42 positions due to political turmoil amplified by the COVID-19 pandemic and Port of Beirut explosion. Topping the list in Europe, the Americas, Africa, and Australia are Zurich, New York City, N’Djamena, and Sydney respectively.

Head over to Mercer’s website for a more in-depth look at this year’s rankings.

In other news, Porsche will build its own battery cells for sports cars beginning in 2024.
Source: Read Full Article