The most expensive cities in the world - 2016 expat ranking

LUXEMBOURG - Oct. 28, 2016 - PRLog -- According to the latest cost of living ranking from EuroCost International, Tokyo is now once again the most expensive place in the world for expats.
The study is based on prices collected in June 2016 and updated with August 2016 exchange rates; it compares expat living costs in major locations worldwide, including housing costs.

Major highlights
• Tokyo is the most expensive city in the world again
• Top cities are subject to exchange rate fluctuations
• London is always more affordable for expats

During the last two years, exchange rates have regularly strongly fluctuated and no less than four cities have occupied the top spot in the world's ranking of the most expensive location for expats: Moscow, Luanda, Hong Kong and now Tokyo, back to the spot it had occupied until 2012.

Hong Kong is now the world's 2nd most expensive city after one year on the top spot, as a consequence of the yen revaluation in June 2016.

European cities hardly appear in the top 30. Apart from the Swiss cities (Geneva 4th, Zurich 10th, Lausanne 15th, Bern 22nd and Basel 27th), the only other European cities are London 12th and Copenhagen 26th. Euro zone locations rise in the ranking, but remain far from the top: Paris, most expensive euro zone city, only ranks 44th.

London, that was 2nd most expensive location in the world a year ago, has fallen down by 11 places, reflecting the pound depreciation after the vote in favour of 'Brexit'. It is worth underlining that London remains among the most expensive cities in the world because of the incredibly high prices of its residential rents, particularly in the city centre.

The most expensive cities worldwide - 2016
1.    Tokyo
2.    Hong Kong
3.    Luanda
4.    Geneva
5.    Singapore
6.    Shanghai
7.    Seoul
8.    Beijing
9.    Beirut
10.  Zurich
11.  New York, NY
12.  London
13.  San Francisco, CA
14.  Guangzhou
15.  Lausanne
16.  Kinshasa
17.  Honolulu, HI
18.  Mumbai
19.  Abu Dhabi
20.  Wuhan
21.  Sydney
22.  Bern
23.  Moscow
24.  Tel Aviv
25.  Dubai
26.  Copenhagen
27.  Basel
28.  Doha
29.  Chengdu
30.  Washington, DC

All details about 2016 worldwide ranking and comments on regional rankings on
http://www.eurocost.com/en/news/113-the-most-expensive-cities-worldwide-2016

About EuroCost International
EuroCost International specializes in expatriation and conducts expat cost of living surveys in more than 300 locations worldwide.
Those data are used by HR professionals to calculate their expat remuneration packages.
EuroCost International cost of living indices are updated 4 times a year (in March, June, September & December). They are based on a basket of 350 goods and services representative of the consumption habits of expatriates and can be customised to fit any company's or organisation's salary policy. Those indices are available on a city-to-city comparison basis.
EuroCost International also provides specific reports on rental costs, school costs, business trips or on quality of life for expats.