Hong Kong recaptured the dubious status as the most expensive city for expatriates among 209 cities worldwide amid soaring accommodation costs, even as it ranks as a relative bargain when it comes to beer and hamburgers, according to consulting firm Mercer.
Hong Kong edged out Tokyo, Zurich, Singapore, and Seoul among the top five most expensive cities in the world, according to Mercer's 24th annual Cost of Living Survey.
Hong Kong ranked No 2 last year, although it held the No 1 spot in the 2016 rankings.
Mercer’s annual survey rates prices on rental accommodation, meals, and entertainment among a measure of 200 daily necessities in comparing the living cost for expatriates in 375 cities worldwide. The data for this year’s ranking was compiled in March.
Soaring rental costs are the major reason Hong Kong outpaces other cities when it comes to the expatriate lifestyle.
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