These are the 10 most expensive cities in the world for foreign workers in 2020

2020-06-10T21:52:54.638Z

The most expensive cities in the world to live as an expat in 2020 were revealed by Mercer. Guess which place tops the list? Hint: It is one of the most popular destinations in Asia.

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(CNN) - Find a different name in this list of global cities: Hong Kong, Zurich, Singapore and… Ashgabat?

The capital of Turkmenistan may not be the first option that comes to mind when listing expensive destinations, but Ashgabat is now the second most expensive city in the world for expats, foreign workers, according to the recent Cost of Living Survey published by Mercer.

READ: Three cities tie as the most expensive in the world to live

While the city rubs shoulders with Tokyo (ranked No. 3) and New York (ranked sixth), Ashgabat's five-point rise in this year's ranking is due to an ongoing economic crisis, the dearth of food and subsequent hyperinflation.

Hong Kong, which is also experiencing turmoil in the form of political unrest, is once again at the top of the list, largely because it has the world's most expensive property market, facing stiff global competition.

New York is the most expensive in cleaning products

Mercer's data was collected during March, so the biggest impact of the coronavirus pandemic on prices is not reflected in the 2020 ranking, but given that grocery costs were already skyrocketing in the United States and elsewhere. It is a safe bet to say that the most expensive cities in the world are becoming more expensive.

Several factors - including currency fluctuations, the cost of inflation for goods and services, and accommodation prices - contributed to the costs of expat packages for employees on international assignments, Mercer said.

The survey aims to help governments and multinational companies pay employees who move abroad to work.

PHOTOS | These are the 10 most visited cities in the world in 2019

1 of 10 | Position 10: Istanbul, Turkey. Market research company Euromonitor, based in Great Britain, has released its Top 100 City Destinations 2019 report. Tenth most visited city? Istanbul which had 13,433,000 international arrivals in 2018 and an estimated 14,715,900 arrivals in 2019. (Credit: David Cannon / Getty Images). Look at the gallery →

2 of 10 | Post 9: Kuala Lumpur, Malaysia. Asia has 43 cities in the top 100 places in the Euromonitor ranking, including Kuala Lumpur at number nine. (Credit: Walkerssk / Pixabay)

3 of 10 | Position 8: New York. The only US city In the top 20 of the ranking is New York, also named in early 2019 as the "most exciting city in the world" by the Time Out Index 2019. (Credit: Lukas Kloeppel)

4 of 10 | Position 7: Dubai, United Arab Emirates. This Middle Eastern city is ranked number seven on Euromonitor's list. (Credit: GIUSEPPE CACACE / AFP / Getty Images)

5 out of 10 | Position 6: Paris, France. After Brexit, Euromonitor predicts that Paris will benefit from visitors who choose the French capital over London. For now, it's at number six. (Credit: FRED DUFOUR / AFP / Getty Images)

6 out of 10 | Position 5: Singapore. At number five in the ranking is Singapore, also named by Euromonitor as a city to observe closely. (Credit: Singapore Tourism Board)

7 out of 10 | Position 4: Macao. Known for its casinos and theme parks, Macao has the fourth highest number of international arrivals. (Credit: Istockphoto)

8 of 10 | Position 3: London. The uncertainty of Brexit could mean that the British capital descends on the Euromonitor list, but for now it is at number three. (Credit: Richard Heathcote / Getty Images)

9 of 10 | Position 2: Bangkok, Thailand. A 6.9% growth in arrivals for 2019 is expected for this city. (Credit: Nivolas Asfouri / AFP / Getty Images)

10 of 10 | Position 1: Hong Kong. Despite months of political turmoil, Hong Kong's total international tourist population is estimated to be 26 million this year, making it the most visited city in the world. (Credit: Andy Yeung)

Mercer's ranking, which includes 209 global destinations, is based on a “basket” of 200 items that reflect the cost of living for foreigners living in different cities.

This year, Mercer selected coronavirus-related products, and New York City is the most expensive place to purchase cleaning supplies, including antiseptic spray and soap.

Lagos beats London

"The covid-19 pandemic reminds us that sending and keeping employees on international assignments is a huge responsibility and a difficult task to handle," said Ilya Bonic, career president and chief strategy officer for Mercer. "Instead of betting on a drastic revival of mobility, organizations should prepare for the redistribution of their mobile workforces, leading with empathy and understanding that not all expatriates will be ready or willing to go abroad," she added.

READ: 21 of the 30 cities in the world with the worst air pollution are in India

Six of the top 10 cities this year are in Asia, with Singapore at number 5 and Shanghai and Beijing in China at 7 and 10 respectively.

Switzerland leads the list in Europe, with three of its cities in the top 10: Zurich in 4th place, and Bern and Geneva in 8th and 9th respectively.

Lagos, Nigeria, which has established itself as the trading capital of Africa, climbed to No. 18 in the standings, one place ahead of London at No. 19.

At the other end of the ranking, the cheapest cities are the Tunisian capital, Tunisia (209), Windhoek, Namibia (208), and Tashkent, Uzbekistan (207).

The cost of rooms starts at around $ 100 at the four-star Hilton Windhoek. (Credit: Hilton Windhoek Namibia)

Namibia, with its modern capital, good roads, and reasonable car rental rates, was one of CNN Travel's recent picks for wilderness areas to inspire future travel when the world begins to move again.

With the global economy turned upside down and companies rethinking their approaches to office space, work from home, and redeploying employees, it may be time to rethink the horizon.

Ranking of cities by cost of living in 2020

1. Hong Kong (China)
2. Ashgabat (Turkmenistan)
3. Tokyo (Japan)
4. Zurich (Switzerland)
5. Singapore
6. New York (United States)
7. Shanghai (China)
8. Bern (Switzerland)
9. Geneva (Switzerland)
10. Beijing (China)