The capital city of Ashgabat in Turkmenistan has been the most expensive city in the world for overseas workers overtaking Hong Kong, according to Mercer Cost of Living Survey 2021, reports CNN.
In the survey, some 209 cities are ranked based on the comparative cost of expenses including housing, transportation, food and entertainment, with New York City used as a baseline comparison, says the report. On last year’s list, the Turkmenistan capital was at number two.
Of the top 10 most expensive cities for expats, some other cities are Hong Kong at second, Tokyo at four, Zurich at five & Singapore at seven.
According to the reports, Turkmenistan’s ongoing financial crisis, which has led to food shortages and hyperinflation, is cited by Mercer as the reason why Ashgabat’s cost of living has risen over the past couple of years.
Perhaps the biggest change from last year’s Mercer survey sees Beirut rising from the 45th most expensive city for international workers in 2020 to the third priciest for 2021.
Similarly, the appreciation of the Australian Dollar saw Aussie cities like Sydney and Melbourne climb up Mercer’s ranking.
On the other hand, the three cheapest cities, ranked in the survey, for overseas workers are Tbilisi, Georgia (at number 207), Lusaka, Zambia (at 208) and Bishkek, Kyrgyzstan (at 209).
2021 Cost of Living City Ranking (Top 10 Expensive Cities for Expats) :
- Ashgabat (Turkmenistan) 2. Hong Kong (China) 3. Beirut (Lebanon) 4. Tokyo (Japan) 5. Zurich (Switzerland) 6. Shanghai (China) 7. Singapore 8. Geneva (Switzerland) 9. Beijing (China) and 10. Bern (Switzerland).
