Five of the 10 costliest places in the world for expatriates are in Asia-Pacific, a new survey from Mercer showed, and Bangkok (67) jumped seven places from last year.
With its dollar-pegged economy, Hong Kong remains the most expensive city in the region for workers abroad, second worldwide, according to the 23rd Cost of Living Survey by the health, wealth and career consultancy.
Five of the top 10 cities in this year’s ranking are in Asia.
Hong Kong (2) is the most expensive city as a result of its currency pegged to the US dollar, which drove up the cost of accommodations locally. This global financial center is followed by Tokyo (3), Singapore (5), Seoul (6), and Shanghai (8).
“The strengthening of the Japanese yen along with the high costs of expatriate consumer goods and a dynamic housing market pushed Japanese cities up in the ranking,” said Ms. Constantin-Métral.
“However, the majority of Chinese cities fell in the ranking due to the weakening of the Chinese yuan against the US dollar.”
Australian cities have all experienced further jumps up the global ranking since…