Hong Kong and Singapore remain the most expensive cities for expats

When you uproot yourself to relocate to a completely different city for work, “There are many factors to consider, with cost of living probably at the top of the list. So which international city is the most expensive for expats? asks himself CNN,

THE ranking Mercer 2024 once again awards its prize to Hong Kong. As was the case in 2023, with Singapore taking second place. The cost of housing, signals Bloombergmeans that these two major Asian rival cities outperform four Swiss cities, in order: Zurich, Geneva, Basel and Bern.

New York, London, Nassau and Los Angeles respectively bring up the rear in this top 10 of the most expensive cities on the planet. Note: Paris is on 29e rank of the 226 cities considered.

200 articles and services studied

To determine its ranking, Mercer measured the comparative cost of more than 200 items and services, “including housing, transportation, food, clothing and household items.” The American consultancy firm’s website offers an interactive table that allows you to track price variations in one year for eggs, coffee, gasoline, jeans and a haircut among 24 selected cities.

We see that the price of olive oil, for example, has increased by 694% in Buenos Aires. And out of 19 cities studied in another comparative table concerning rents, Mercer observes that İstanbul shows an increase of 301% since 2023.

A Mercer spokesperson, Yvonne Traber, notes that cost of living challenges have had a significant impact on multinational organizations and their employees. To compensate, she says, employers can offer compensation programs “including housing allowances or subsidies or providing other support services”.

The Press signals that Canadian cities are rather at the bottom of the ranking for North America. While concerns about the cost of living remain for this country, Mercer’s head of mobility consulting services for North America, Vince Cordova, indicates that “the labor market continues to show strength” and that Canada “remains an attractive destination for workers coming from abroad”.

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