With high prices in Hong Kong, a human resource management consultancy survey pointed out that Hong Kong once again became the world's most expensive city for expatriate employees last year.
The agency explained that the main reason for Hong Kong's top ranking is inflation. The survey found that Hong Kong's overall prices have increased by 2.7% this year, and gasoline prices are also higher than other cities in the world, with a 15% increase compared to last year.
The agency also pointed out that due to the strength of the Taiwan dollar against the U.S. dollar and Taiwan’s effective control of the spread of the new crown pneumonia in the early stage of the epidemic to avoid a severe economic recession, Taipei ranks among the top 20 in the world. As for Japan, due to the weak yen, all cities have fallen in rankings. Tokyo fell from second place to third place last year and was surpassed by Geneva.
ECA International publishes the latest study on the living expenses of expatriate employees.
(Photo by Golden Chess)
Hong Kong's economy has gradually recovered from the epidemic, but rents and daily necessities have not seen a big increase
ECA International today (15th) released the latest study on the living expenses of expatriate employees. The survey was conducted in September this year, covering 208 cities in 121 countries.
The results showed that Hong Kong continued to rank among the world’s most expensive cities for expatriate employees. Guan Lilian, Asia Regional Director of ECA International, explained that Hong Kong’s economy has gradually recovered from the impact of the epidemic and social movements this year. The survey found that the overall price of Hong Kong recorded an increase of 2.7%, among which the price of gasoline increased significantly. However, rents and daily necessities did not see significant increases.
4 Mainland cities ranked among the top 15 most expensive living expenses survey agency: strong RMB exchange rate
On the mainland, the rankings of cities covered by the survey have all risen, with four cities ranking among the top 15 and Shanghai and Guangzhou even entering the top 10 in the world.
Guan Lilian pointed out that the main reason is the strong RMB exchange rate. The easing of the epidemic has also led to an increase in market demand for mainland goods. Taiwan’s city rankings have also risen. Guan believes that the main reason for the strong Taiwan dollar should be attributed to its export trade, especially semiconductor exports, which makes Taipei rank first. 20 people.
ECA Internationa research found that Hong Kong continues to be the city with the highest cost of living for expatriate employees in the world.
(Photo by Golden Chess)
Weak Japanese Yen
In Japan, the rankings of all cities have fallen. The survey shows that the yen is weaker than other major currencies, making Japan’s cost of living lower than other regions, and the yen’s decline has exceeded the price increase. Therefore, the cost of living in Japanese cities has been lower than that of some major cities in the world. , Including Tokyo fell one place to third, Yokohama fell out of the top 10 in the world, ranking 16th.
Globally, most EU cities have fallen in rankings.
Paris fell out of the top 30 in the world, while other cities such as Madrid, Brussels and Rome also fell in the rankings.
New York, USA, dropped one place to fourth from third last year.
The basic inflation rate rose by 1.7% in October. Hydropower and coal rose by 28.1% year-on-year. The government: roughly maintains the controlled increase in electricity tariffs｜Energy Council expects that electricity tariffs will continue to increase to urge the government to explain early that the catering industry says various costs increase electricity tariffs｜Sub-households are overcharging Twenty percent of the electricity bill group said that the environment is limited and it is difficult to save electricity to directly subsidize the electricity bill. The subsidy will be completed next year, and the electricity bill will reach a new high.
