Hong Kong most costly city for expats; Seoul 15th
/ Courtesy of Hong Kong Tourism Board
By Kim Da-hee
Hong Kong has been ranked the most expensive city for expatriates while Seoul is 15th, a survey reveals.
American consultancy firm Mercer does the survey every year to help employers calculate living costs for their expatriate workers. The survey compared the cost of more than 200 items in 209 cities, including housing, transport and food.
According to the results published Wednesday, an unfurnished two-bedroom apartment in a decent neighborhood of Hong Kong rents for about $6,800 a month ― far higher than London ($4,583) and Tokyo ($4,000). A cup of coffee in Hong Kong costs nearly $8 ― about four times more than New York ($2.28).
Angola’s capital Luanda ranked second one step down from 2015. Experts said the collapse of the Angolan currency caused living costs to fall. In the African city, it costs expats about $6,700 a month for rent.
Among the top 10 most expensive cities, four others were in Asia ― Singapore (fourth), Tokyo (fifth), Shanghai (seventh) and Beijing (10th).
New York City, which many believed was the most expensive city, came in 11th.
The cost of living for expats in Seoul seemingly dropped as it was ranked 15th ― down from eighth last year.
Windhoek in Namibia was the least expensive city.