The most recent updated cost of living survey from Mercer is out and there were some moves within the top 10 that might surprise you. The survey evaluates 209 cities around the world and uses the city of New York as a comparison base point.
Asian cities account for half of the 10 most expensive cities in the world for expats, while four of Australia’s major cities moved between 17 and 31 places higher in Mercer’s ranking than they stood a year ago.
The top five are the same in 2017 as they were in 2016, though Tokyo popped up from No. 5 to No. 3, above Zurich and Singapore.
Although China has two cities in the top 11 (Shanghai at No. 8 and Beijing at No. 11), Chinese cities fell in the rankings overall due to the weakening of the Chinese yuan against the U.S. dollar.
For an interactive map and further discussion on the latest Mercer Cost of Living Survey, click here.
Mumbai was another big mover, edging up 25 places to 57th place, fueled by the Indian city’s booming economy, according to Mercer.The most expensive city in the world on this year’s list is Luanda, the capital of Angola, which was in second place last year; this year it displaced Hong Kong, which slid into second place. Tokyo was third, followed by Zurich, Singapore, and Seoul. (See chart, below.)