Hong Kong named most expensive city for foreign workers

11:17, 16 December 2020
Hong Kong named most expensive city for foreign workers Photo: Unsplash

Hong Kong has become the world's most expensive place to live for foreign workers despite the economic fallout due to the coronavirus pandemic, said  Lee Quane, Asia Regional Director of  ECA International consulting agency.

As noted in the agency's annual report, the main reason for the high cost of living in Hong Kong is the extremely high housing prices.

Hong Kong is followed by Tokyo and New York. The top ten also includes Geneva, Zurich, London, Tel Aviv, Seoul, San Francisco, and Yokohama.

Also, this year, four cities in mainland China entered the top twenty - Shanghai (11th), Guangzhou (15), Shenzhen (17), and Beijing (18). The study took into account the fall in gasoline prices in Chinese cities by almost 15%.

Moscow ranked 56th.

When compiling the list, the agency compared the costs of goods and services, including utilities, that are available to an ordinary foreigner. Currency fluctuations were also taken into account, TASS reports.

Russians from megacities named Moscow, Kazan, and Novosibirsk as the best cities for career development when working remotely, reported earlier.