20 Most Expensive Cities For Expats: ECA International is an international giant based in London , New York City, Sydney, and Hong Kong. The company offers data on living cost indices, tax calculations, country profiles, security reports, and labor law among other information. The company was founded in 1971. The company analyses the cost of consumer goods and services in 490 locations worldwide. A recent list made by it, in March 2021, of the most expensive cities for expats to live in, places Hong Kong on the top for the second time. Tokyo and Geneva took the second and third positions respectively.
High prices and a highly valued currency account for placing Hong Kong in this position. The high restrictions maintained in the Asian country during the pandemic period have also worked towards attracting more expats. Like the other regions around the globe, Hong Kong too was hit by the blows of the surge of inflation , during the pandemic period. Though it was less damaged than other cities and niches ,which was a plus in grabbing the position it has in the list , as said by Lee Quane , ECA International’s regional director in Asia.
Elevated rental costs in London and New York are as high as twenty and twelve percent respectively. This has been a crucial factor in placing the country to their ranks in the list. Singapore has been ranked thirteenth when it comes to rental prices, instead of high cost of rent and utilities. Though it is worth considering that these were imdemnified as the value of the Singapore dollar fell as against the regions , during the latter part of the survey by ECA .
20 Most Expensive Cities For Expats
Japanese cities fell down the ranks in the list as the worth of the yen decreased . It is so as the bank of Japan stood rigid in it’s objective to maintain rock bottom interests . It did so even as the world was sweeped by surging inflation , that incentivized even the US Federal reserves to raise interests.
On the other hand, Chinese cities are on a rise with steadily increasing value of the yuan . The Chinese cities of – Shanghai and Guangzhou , no wonder captured the ninth and tenth ranks respectively in the list.
This recent list prepared by ECA International from among 120 countries’ 207 cities , in March 2021 , lists the top 20 countries as the following :
- Hong Kong
- New York
- Tel Aviv
- San Francisco
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