#
HongKong is the most expensive city in the world in 2019, followed by #
Singapore and #
Monaco. The biggest change this year was #
Harare in #Zimbabwe moving into the top 10 and #Luanda in #Angola moving out.
Hong Kong
is the most expensive city due to the very high cost of housing and
healthcare, as well as the strong Hong Kong dollar which is fixed
against the US Dollar. An interesting observation is the fact that if 4
of the 13 baskets are excluded from the cost of living index calculation
(namely Housing, Education, Medical and Transport) then Hong Kong drops
out of the top 10 most expensive cities in the world. This illustrates
that not everything in Hong Kong is expensive. It is therefore very
important it is to ensure that the correct baskets are included in a
cost of living index calculation. In running Xpatulator.com reports
users will see that any of the 13 baskets can be included or excluded as
needed. If for example an expatriate professional migrant is provided
with housing, education (schooling for children) and medical insurance
by their employer, then these baskets should be excluded from the cost
of living calculation. Only those baskets that the employee will spend
their salary on should be included in a cost of living index for an
international assignment.
Singapore
is the second most expensive city in the world for Expatriate’s to
live. Singapore's education system, which is widely regarded as the best
in the world, is also the most expensive for expatriates when priced in
US Dollars, the cost of housing is also extremely high due to the
limited space and premium on high quality expatriate accommodation,
while the complex Certificate of Entitlement system makes car prices
excessive, resulting in Singapore’s transport costs being amongst the
highest in the world.