Asian cities represent 4 out of the 10 highest cost destinations for expatriate assignments.
According to the Mercer 2022 Cost of Living City Ranking, Hong Kong leads the world in price, holding the number one spot.
Also appearing within the top 20 on the list:
- Singapore #8
- Japan – Tokyo #9
- China – Beijing #10
- China – Shanghai #12
- China – Shenzhen #13
- Korea – Seoul #14
- China – Guangzhou #18
The Cost of Living Index takes into consideration the prices of over 200 goods and services, including many that impact the delivery of destination services. Housing, utilities, transportation and home services each impact not just living in a location, but moving to one.
We continue to see inflation rise across Asia like the rest of the world. Through just April this year, ASEAN economies jumped to an average 4.7 average inflation. Three Relo Network Asia locations were the leaders of that increase including Thailand (267%), Indonesia (149%) and Singapore (161%).