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What are the 5 most expensive cities in the world for expats?

2024-06-19 14:09:06Lifestyle SHKRUAR NGA REDAKSIA VOX

What are the 5 most expensive cities in the world for expats?

For many people, the thought of moving across the globe for work is both exciting and daunting. Being an expat comes with a number of unique challenges, but in recent years one issue has come to the fore more than any other: globally, the cost of living is rising, and many of the world's most international cities are becoming increasingly expensive. .

This is especially true for international workers in East Asia and Western Europe, with analysts pointing to high costs for accommodation, transport and goods as potential barriers to foreigners residing in these cities.

Consulting firm Mercer recently analyzed the comparative price of goods, services and housing in 226 cities on six continents to determine where foreign workers need higher wages to meet the local cost of living.

Basel is one of the few Swiss cities that ranks among the most expensive municipalities for expats. Basel is the epicenter of the Swiss chemical industry and home to several major pharmaceutical companies. While the city's overall ranking remained the same in this year's survey as in 2023, the cost of renting has risen 4%, according to Mercer's analysis.

For the second year in a row, Geneva was the fourth most expensive city in Mercer's ranking. Switzerland's second largest city is home to several major international organizations, including the Red Cross, the World Health Organization and the World Trade Organization. The cost of living in the highly international city is on the rise, with rents increasing by 4% between 2023 and 2024.

In addition to being the third most expensive city for expats, Zurich is also the most expensive city in Switzerland. The cost of rent in Switzerland's most populous city rose six percent in just one year, according to Mercer's analysis. The city is the heart of the Swiss financial sector and is home to several major banks, including UBS and Credit Suisse.

The Southeast Asian city-state of Singapore was the second most expensive city for expats for the second year in a row. In the past year, Singapore has seen a slight increase in the cost of basic consumer goods such as eggs, olive oil and petrol. The cost of rent also increased by an average of 8%.

Hong Kong topped the list of most expensive cities for expats for the second year in a row. The cost of basic consumer goods rose dramatically between 2023 and 2024, with the price of eggs rising by 13.7%, olive oil by 25.4% and petrol by 7.2%. Renting a residence in Hong Kong is also increasingly expensive, with average housing costs increasing by 8% a year.

Meanwhile, Tirana for this year has become more expensive climbing 50 places and is positioned in 103rd. It is even worth noting that the capital of Albania is among the cities that has shown the greatest increase in the cost of living in the last year.


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