Listen Now: The World’s Most Expensive Cities in 2019
Looking to relocate from the U.S.? Better check the cost of living.
An expatriate is someone who lives outside their native country, often for better job opportunities, or a new lifestyle. But that can come at a high price.
According to an annual report by consulting firm Mercer, as reported in Bloomberg Business, Hong Kong is the world’s most expensive city for the second year in a row. And eight of the top ten cities named in the cost of living survey are in Asia.
Hong Kong’s red-hot housing market and fluctuations in its currency, which is pegged to the strong U.S dollar, kept that city as the top of the list. Tokyo came in second, followed by Singapore, Seoul, Zurich and Shanghai.
In the U.S, New York jumped four places to break into the top ten, while San Francisco and Los Angeles took sixteenth and eighteenth place respectively.
In Europe, London ranked twenty-third and Paris came in at forty-seventh.
The least expensive city for expatriates is Tunis in Tunisia. Cheap to live but hard to get a job there.
CBS News Radio national business journalist Brian Banmiller has spent more than 40 years in the news industry, covering business, politics and the economy on television, radio and in print. Currently, his “Banmiller on Business” reports are delivered to an audience of millions nationwide.
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