Which cities are the most expensive for expats to live in?

According to an annual cost of living survey by a US consulting firm, Asian cities occupy four of the top 10 most expensive places for international employees

Tokyo tumbled to ninth place from third a year earlier, partly due to the weakening of the yen, but also affected by the pandemic and the war in Ukraine

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Beijing is one of four Asian cities in the top 10 of most expensive places for international employees. Photo: Getty Images

Published: 7:59am, 18 Jul 2022Updated: 9:54am, 18 Jul 2022

According to the survey by a US consulting firm, Hong Kong has returned to pole position as priciest city in the world, after ceding the spot to Turkmenistan’s capital Ashgabat in 2021. Hong Kong was previously named the most expensive city for three consecutive years to 2020.

Other Asian cities occupied four of the top 10 most expensive places to live in, with Singapore, Tokyo and Beijing accounting for places eight to 10.

Tokyo has tumbled to the ninth-most expensive city for people working abroad in 2022 from third a year earlier, partly due to the weakening of the yen against the US dollar and other major currencies.

The Mercer’s Cost of Living Survey comes as the effects of the coronavirus pandemic, now in its third year, the consequences of Russia’s invasion of Ukraine, varying exchange rates, and surging prices put a squeeze on pay and savings across the world.

In a separate Asian top 10 ranking, Chinese cities filled six spots, a development Mercer put down to the Chinese yuan’s strength making mainland China more expensive to live in.