Việt Nam•21/06/2024
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The list of the most expensive cities in the world for foreigners to live in has just been announced, with two Vietnamese cities appearing in the rankings.
Hong Kong once again takes the title of most expensive city for expatriates in Mercer's 2024 Cost of Living Survey.
The Asian city also topped the list in 2022 and 2023, closely followed by Singapore in second place.
Notably, there are 4 Swiss cities in the top 10 including Zurich, Geneva, Basel and Bern in 3rd, 4th, 5th and 6th positions respectively.
New York, USA, took 7th place, while the British capital London, which was 17th last year, jumped to 8th place. Nassau in the Bahamas took 9th place and Los Angeles entered the top 10.
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Cities in Vietnam with low cost of living for foreigners. Photo by Bui Van Hai |
The report surveyed 226 cities based on the comparative cost of more than 200 items in each location, including transportation, food, clothing, household goods and entertainment. Two Vietnamese cities, Hanoi, ranked 172nd, and Ho Chi Minh City, ranked 178th. In Southeast Asia, Jakarta, Indonesia, ranked 157th, Manila, Philippines, ranked 131st, Bangkok, Thailand, ranked 129th, Phnom Penh, Cambodia, ranked 123rd, while Kuala Lumpur, Malaysia, ranked 200th, with a low cost of living.
Expensive housing markets and rising costs of transportation, goods and services are among the reasons why the cost of living in the top-ranked cities is particularly high, the report said.
In addition, "inflation and exchange rate fluctuations" were noted to have directly affected the "wages and savings" of international workers.
The study also noted that the cost of living in the US is a "significant issue" in 2024, with seven of the country's cities appearing in the top 20.
The lowest-ranked cities for cost of living are Islamabad, Pakistan, Lagos and Abuja, Nigeria. However, this is said to be partly due to “currency devaluation”.
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