Islamabad, Karachi Ranked Least Cheapest Cities in The World
It is roaming in the news these days that the new 2019 living cost study is out and Hong Kong is for the second consecutive year the world's most expensive city for expats.
According to the Mercer survey, Tokyo, Japan follows Singapore, South Korea's Seoul, Zurich, China's Shanghai, Turkmenistan's Ashgabat, China's Beijing, New York, USA and China's Shenzhen city.
There are four Chinese cities out of tens. The top 10 were dominated by Asian cities, while many cities in Europe were listed. The list includes 8 of the top 10 cities in Asia, up from 6 entries in 2018.
The list also included Islamabad and Karachi. Islamabad is Pakistan's most expensive town, ranking 203, followed by Karachi, ranked 213. But they are the world's least expensive cities because they rank at the end of the 209 cities list.
The list includes India's metro cities, such as Delhi, Mumbai, Bengaluru, Kolkata and Chennai. As Mumbai is India's most expensive city, number 67, and New Delhi has come on 118th.
The rankings are calculated with 209 urban areas worldwide and the price of over 200 products is measured at each place. Housing, transport, food, clothes, family items and recreation are included.
Most Expensive Cities in The World
Hong Kong is the most expensive city in the world for people working abroad.
10 most expensive cities for expats
- Hong Kong
- Tokyo, Japan
- Seoul, South Korea
- Zurich, Switzerland
- Shanghai, China
- Ashgabat, Turkmenistan
- Beijing, China
- New York, United States
- Shenzhen, China
On the other side of the scale, Tunis in Tunisia, Tashkent in Uzbekistan and Karachi in Pakistan are among the cheapest towns for expatriates this year, according to studies.
10 cheapest cities for expats
- Tunis, Tunisia
- Tashkent, Uzbekistan
- Karachi, Pakistan
- Bishkek, Kyrgyzstan
- Windhoek, Namibia
- Banjul, Gambia
- Islamabad, Pakistan
- Tbilisi, Georgia
- Skopje, Macedonia
- Managua, Nicaragua
The dominance of the top 10 in Asia was mainly owing to powerful residential markets, according to Mercer.
High demand and low supply in Hong Kong have in latest years pushed estate rates to "inaccessible levels," with territorial plans for an artificial island of $80 billion to assist resolve the crisis. The writers of the report also observed that the currency of Hong Kong was tied to the U.S. dollar, which increased living costs locally.
The analyses included alcohol, clothes, meals, recreation and accommodation. The results were also discussed.
McDonald's regular Big Mac meal in Zurich, Switzerland, was the costliest at $15. In Hong Kong, gasoline and a cup of coffee in a "fashionable cafe, while Londoners went most for the film tickets.
In addition, the study discussed how the cost of living has changed in latest years.
Between 2014 and 2019, the cost of an international beer brand rose in eight of the seventeen cities, which was connected to the fast-economic growth of the country by the writers.
The study states that a night out in China – covering two film tickets, two steak dining and two coffee – increased from 136 dollars in 2009 to 163 dollars in 2019.
In Mexico City, night out costs have been risen by more than 40% over that same period and this year's study shows that the date night would cost $90 in Mexico's capital.
Global Shift of The Economy
In this year's classification, the U.S. cities were raised by a powerful dollar, as were "significant drops" in 2019. New York— North American's largest hub— grew to four places this year and was labelled as the 9th-largest overseas employees ' city. San Francisco was 16th in 2018, jumping 12 places and Los Angeles was on 17 positions out of 18th over the past year.
Into the top 50 most costly cities list are Washington, D.C., Miami and Boston. In the meantime, the cheapest towns in the US were Portland, Oregon and Winston Salem, North Carolina.
In other parts of the world, Dubai has been named the 21st most costly town, while London is in 23rd place. Mumbai was the costliest town in India, and Sydney was Australia's top place.
Brazil's Sao Paolo and Rio de Janeiro cities dropped 22 in South America.
With Vancouver, the world's highest place, as the 112th most costly Canadian city remain stable.