POST Online Media Lite Edition



 

Hong Kong still most expensive city for expats

Christian Fernsby |
Hong Kong retains its place atop the rankings for a third straight year as the world's most expensive city for expats, according to the latest Mercer annual report.

Article continues below



Topics: HONG KONG   

The consultancy found Hong Kong, with its sky-high housing costs, was still ahead of 208 other cities while Asia provided six of the top ten.

Turkmen capital Ashgabat notably edging Tokyo out of second spot.

Sixth-placed New York up three places was the only U.S. entrant to make it into a top ten featuring three Swiss cities Zurich (4th), Bern (8th) and Geneva (9th).

Singapore fell from third to fifth.

"Ashgabat is suffering from an economic crisis which has brought about a dire currency shortage and therefore problems importing," Mercer France head of mobility Jean-Philippe Sarra told AFP, with currency rate fluctuations and inflation further contributory factors.

Mercer's report found the strength of the dollar has forced up costs for expatriates in American cities.

After New York, San Francisco was the next U.S. entrant, maintaining its 16th place, while Los Angeles rose one spot to 17th.

In Europe, London rose four places to 19th partly on the back of a relative rise in sterling but Paris slid from 47th to 50th as the euro lost ground against the dollar, against which local currencies are measures for the survey.

The least expensive cities on the list are Karachi, Bishkek, Tashkent, Windhoek and Tunis.

Sarra said the survey was based on the cost of living in February going into March, when "most countries had not yet been affected by the (Covid-19) crisis."

He noted a smaller sample of Hong Kongtaken in April did not show the virus as having a discernable impact but added that future consequences for expatriates could not be ruled out.

"There will be changes but we still don't know to what degree the crisis will impact on mobility," said Sarra, noting that "there will be some expatriates who will no longer wish to stay or else to head off" on a foreign assignment.


What to read next

Singapore is best overall destination for expats
Kuwait City named world's worst city for expats
Santa says Belfast most affordable city for shopping

France: Boeing 737 overran the runway and ended up in lake

 
French authorities on Saturday shut the airport in Montpellier after a cargo plane overran the runway and ended up with its nose in a nearby lake.
 
 

Latest

33,000 new loans for small businesses as £900m government scheme widened
Fiona hits Canada, 470,000 without power, army sent to help
Gazprom supplies gas for Europe through Ukraine equaling 42.4 mln cubic meters via Sudzha
SpaceX launches rocket with 52 Starlink satellites

NEWS

Chinese President Xi reportedly under house arrests, Beijing cancels 9,000 flights across country

Italy heads to polls in elections that could take far-right to power
Spain dismantled organization dedicated to hashish trafficking, 49 people arrested
Drug trafficking operation nets record seizures and 1,333 arrests
Ugandan military helicopter crashes in western region
Philippines braces for Typhoon Noru, coastal villagers to evacuate
 

BUSINESS

New Aghband road bridge between Azerbaijan, Iran to help facilitate cargo transit

Work to begin on Swiss backup power plant
Number of active U.S. drilling rigs up this week
ScotRail workers to strike over pay
South Korea attracts $1.15 bn investment from U.S.
UK's Trades Union Congress: Tax cuts helps corporations and wealthy
 

Trending Now

Philippines braces for Typhoon Noru, coastal villagers to evacuate

New Aghband road bridge between Azerbaijan, Iran to help facilitate cargo transit

Iran Air launches Tehran-Munich flights

Drug trafficking operation nets record seizures and 1,333 arrests


POLITICS

Families in British Columbia will save big as child care fees cut as much as $550 more per month

North Dakota Governor announces apprenticeship program at tribal colleges in partnership with energy companies
Scotland: UK Chancellor’s measures fail to target support
Philippines in talks to buy Russian fuel
Ireland launches solar panel grant scheme for businesses
New Jersey Governor increasing offshore wind goal to 11,000 MW by 2040
 

Today We Recommend

Chinese President Xi reportedly under house arrests, Beijing cancels 9,000 flights across country


Highlights 

Enabled Intelligence to create 117 new jobs in Fairfax County, Virginia

Pangiam will create 201 new jobs in Fairfax County, Virginia

Target to hire 100,000 holiday workers


COMPANIES

Aeroflot to resume flights to Sri Lanka beginning October 9

Iran Air launches Tehran-Munich flights
Toyota closes its production facility in Russia
Hopium chooses Normandy for its first industrial site
Vianode invests $188 million in battery materials plant in Norway
Adnoc and Taqa close $3.8 billion contract for Lightning project
 

CAREERS

Paul Boudre appointed chairman of UnitySC

Serge Lupas appointed as CEO of Cyclomedia
Tidewater Renewables appoints Ray Kwan as CFO
JBS USA names Jason Weller chief sustainability officer
Orange County Bancorp appoints Marianna R. Kennedy to board
Ecobat appoints new chief financial officer
 

ECONOMY

Germany's manufacturing activity at 27-month low

UK private sector falls at fastest pace since January 2021
Unemployment rates drop in every county across Tennessee
U.S. Leading Economic Index fell in August
Egypt keeps interest rates unchanged
U.S. mortgage rates highest since 2008
 

EARNINGS

Costco Q4 net sales increased 15.2 percent

FedEx Q1 profit down
Accenture Q4 revenues increased 15%
Darden Restaurants Q1 income drops
KB Home Q3 profit rises
H.B. Fuller Q3 profit rises
 

OP-ED

Micromanaging is the worst enemy of efficiency and teamwork

Niger set to monetize massive gas reserves through Saharan natural gas pipeline
Putting the brakes on EV folly that choked the market
Oil discovery in Kavango Basin may mean huge benefits for Namibians
Cape Town and Dubai battle over Africa's energy future
Is America going to lose its superpower status?
 

AGRIFISH

Province supporting made-in-Ontario fertilizer solutions for farmers

Taiwan customs seize Chilean apples due to pesticide levels
Denmark to allow mink breeding again from 2023
New Zealand to take extra measures to target pocket of M. bovis infection
Vietnamese giants invest tens of millions in pig market valued at $15 billion
UWRF and DATCP partner to support Wisconsin meat industry with high school curriculum
 

LEADERSHIP

Cybervetting can have pronounced impact on workforce by broadening discrimination

Female managers pay fairer
Pitch quality of CEO voices rests entirely on gender
Employee turnover costs more than you think
51% of supply chain leaders increased number of network locations
If company overcomes post-IPO innovation slump, it will survive longer
 

CRIME

SEC charges Compass Minerals for misleading investors about its operations at world’s largest underground salt mine

SEC charges Cheetah Mobile’s CEO and its former president with insider trading
Stockholm bourse fines SAS $175,000 over pilot strike information
Boeing to pay $200 million to settle SEC charges that it misled investors about 737 MAX
Germany: EIB supports vehicle development and international expansion of EVUM Motors
Gol to pay $70 million to settle SEC charges
 

Magazine

TRAVEL

Anantara Grand Hotel Krasnapolsky Amsterdam opens

Grand festive season in India starts with Navratri
300 artists from 65 nations will participate in Qatar International Art Festival
Hilton Hiroshima hotel opens in Japan
175 room Thompson Madrid hotel opens
Colorfest Balloon Rally in Pagosa Springs, Co., brings a lot of joy
 

SEA, LAND, AIR

Caterham Super Sevens, true joy of ride

New Ford Mustang brings digital cockpit, new engines and style
Ram 1500 Limited Elite Edition joins lineup for 2023
2023 GMC Canyon AT4X, new midsize truck
Shelby Code Red, $210,000+ to upgrade your Ford Mustang
Zero Motorcycles SR/S electric bike, effortless power, effortless control
 

DESIGN

Noritake tableware, to pass down to the new generation as an heirloom

Tecnografica wallcoverings from the land of ceramic
Poliform, kitchens for extraordinary homes
Luxury vinyl tiles, ideal combination of everything
LED lamps, long-lasting light for every space in your home
Clean and luxurious men's watches
 

GADGETS

Leica S3, made in Germany for great pictures

Sennheiser HD 300 PROtect, pro headphones that protect your ears
HP Dragonfly Folio G3, very very good laptop for business users
Nokia PureBook Fold and PureBook Lite, flexibility and stylish design
Tascam 202MKVII, professional dual cassette deck
Bose Frames Tenor, glasses for music and calls
 

HEALTH

UK: Second vaccine doses to be offered to those at highest risk from monkeypox

White House announces $1.5 billion to prevent opioid overdose deaths
Pfizer applies to Swissmedic for authorisation of second bivalent COVID-19 vaccine
Pfizer, Sangamo Therapeutics in Phase 3 trial of investigational gene therapy for Hemophilia A, reopened recruitment
Merck to initiate new Phase 3 clinical program with lower dose of Islatravir with Doravirine for HIV-1
Brazil invests around $583,000 in research on monkeypox virus
 

MEANTIME

Search for clues may explain collapse of ancient city in Mexico

Astronomers unveil new and puzzling features of mysterious fast radio bursts
Earth-like exoplanets unlikely to be another 'pale blue dot'
New evidence for habitability in ocean of Saturn's moon Enceladus
NASA's Perseverance rover finds strong signal of organic matter on Mars
Sea level rise increasing at faster rate around Aotearoa New Zealand