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Written by: Golden Chess
2021-06-17 19:01
Last update date: 2021-06-17 19:01
With high prices in Hong Kong, a human resource management consultancy survey pointed out that Hong Kong has once again become the city with the highest cost of living for expatriates in the world.
The survey also said that although local rents have fallen and the exchange rate has also weakened, the prices of many daily commodities are still higher than those of other countries and regions, including a cup of coffee and one liter of gasoline, which are the highest among many major cities.
In addition, the survey pointed out that China's economy rebounded rapidly during the epidemic period, which made the RMB strengthen in the past year. Therefore, the cost of living for expatriates in most Chinese cities was more expensive than in previous years, and Guangzhou ranked among the top 10 in the world for the first time.
The world's second most expensive city for expatriate employees is Tokyo, which is one place higher than last year's survey.
Guan Lilian, Regional Director of ECA International Asia.
(Provided by ECA International)
ECA International today (17th) released the latest study on the living expenses of expatriates. The survey was conducted in March this year and covered 208 cities in 121 countries.
According to the survey, Hong Kong continues to be the city with the highest cost of living for expatriate employees in the world.
According to the daily commodity price survey in the survey, among Hong Kong, New York, London and Sydney, a cup of coffee in a local coffee shop, one liter of gasoline, one liter of milk and one-year fitness membership are the highest among the four cities.
Guan Lilian, Asia Regional Director of ECA International, said that although the Hong Kong dollar has been relatively weak in the past year compared with many major currencies such as the Euro and the Renminbi; New York is also facing a similar situation, and its ranking has dropped from second to fourth. , But Hong Kong still tops the list.
In the Asian region, Tokyo ranks second in the world, surpassing New York; and most Chinese cities have risen in the latest rankings.
Guan Lilian believes that China’s economy has rebounded rapidly during the epidemic, and the Pearl River Delta is still attractive to many international companies. Among them, Guangzhou and Shenzhen have relatively high rents, and the demand for real estate in these cities is increasing. Therefore, it is important for these cities to send employees abroad. Quite expensive.
The epidemic hits many cities and their rankings have plummeted
The agency also pointed out that cities that had a large number of overseas tourists visited before the emergence of the new crown pneumonia epidemic have dropped in their rankings because their economies have been hit by severe restrictions on international travel. It also pointed out that Bangkok, Thailand, fell 11 places to No. 34th place, while Hanoi, Vietnam fell 20 places to 115th.
As for other cities in the world, the U.S. city's ranking has declined due to the U.S. dollar's continued low level for some time. San Francisco fell out of the world's top 10 to 15th, while New York fell two places to fourth in the world.
Due to the strong trend of the Euro and the British pound, many cities in the Eurozone and the UK have also risen in rankings.
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