Taipei climbed one place to become the 61st most expensive city for expatriate employees, according to the annual Mercer Cost of Living Survey released July 10 by the U.S.-based consulting firm.
Asian cities dominate the survey’s top 10 list, with Hong Kong third, up three places; Singapore fourth, up one place; Tokyo seventh, down four places; and Shanghai 10th, up four places. Beijing, Seoul and Shenzhen came in at 11th, 14th and 17th, respectively.
Nathalie Constantin-Metral, principal at Mercer responsible for compiling the survey, said Japanese cities have dropped in the rankings this year as a result of the yen’s weakening against the U.S. dollar. But mainland Chinese metropolises such as Shanghai, Beijing and Shenzhen moved up due to the strengthening yuan, she added.
The survey’s top ranking city was Luanda in Angola for the second year in a row followed by N’Djamena in Chad. Other cities filling out the top 10 are Zurich fifth, Geneva sixth, Bern eighth and Moscow ninth.
Rankings in many regions were affected by recent world events, including economic and political upheavals. Currency fluctuations and the impact of inflation on goods and services are the main factors influencing the city’s performances in the survey, according to Mercer.
The survey covers 211 cities across five continents and measures the comparative cost of over 200 items, including clothing, entertainment, food, household goods, housing and transportation. (AO-JSM)
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