Hong Kong lost the number one position of the most expensive cities in the world to an unexpected city.
Photo: carloyuen / Pixabay
Before moving to a city, you should consider if it is more affordable than others, since it could be the case that you cannot afford to live there. And although this may be something obvious and very important, the reality is that many people do not usually analyze this point when looking for a new home.
Every year, the investment company Mercer conducts a cost of living survey and analyzes cities around the world to rank them based on factors such as the cost of housing, transportation and food, among other things, all in order to determine the most expensive places in the world to live.
In previous years, the cities ranked at the top of the list have been somewhat predictable. For example, Hong Kong topped the list in 2020, closely followed by some notoriously expensive American cities like New York and Los Angeles. This year, however, Mercer’s cost of living survey saw drastic changes, and there were some surprises.
This year, Hong Kong went from being the number one most expensive city in the world to number two. It is located just behind Ashgabat, Turkmenistan, and surely none of us expected this. At number three is Beirut, Lebanon, which jumped 42 spots to get here since 2020.
The 20 most expensive cities in the world in 2021 are:
2 – Hong Kong, Hong Kong
3 – Beirut, Lebanon
4 – Tokyo, Japan
5 – Zurich, Switzerland
6 – Shanghai, China
7 – Singapore, Singapore
8 – Geneva, Switzerland
9 – Beijing, China
10 – Bern, Switzerland
11 – Seoul, South Korea
12 – Shenzhen, China
13 – N’Djamena, Chad
14–New York, USA
15 – Tel Aviv, Israel
16 – Copenhagen, Denmark
17 – Guangzhou, China
18 – London, UK
19 – Lagos, Nigeria
20 – Libreville, Gabon
It should be noted that no US city was in the top 10, which is probably a surprise to people who pay sky-high rental prices in places like New York and San Francisco.
However, that does not mean that these places have become cheaper, since New York still ranks among the 20 most expensive cities in the world.
While US cities lagged behind in this year’s survey, several UK cities rose through the ranks.
For example, London climbed to number 18 on the list, one spot higher than the previous year. Birmingham and Glasgow each rose eight and ten places, respectively.
On the other hand, Cities that people often imagine as expensive, like Dubai, Paris and Miami, weren’t even on the list.
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