The Most Expensive Cities for Expats to Live in 2022 According to Study

These Are the World’s Most Expensive Cities for Expats to Live in 2022

This might help you decide if you want to stay where you are, or settle down elsewhere!

As economic instability continues to disrupt the world, the cost of living in any city is increasing at a brisk pace. From food and gas, to rent and even soap, prices are becoming unmanageable for the average worker. So, while an opportunity to work or live overseas may arise, a look at the most expensive cities for expats to live in may do good for future plans.

ECA International, a global mobility company, has released its annual list of the most expensive cities to live in. For the third year in a row, Hong Kong finds itself at the top of the list. Expats based in the city may still have to shell out the same costly bills, maybe even more as days go by.

Also read: These Are the Best & Worst Cities for Work-Life Balance in 2022

Determining the most expensive cities for expats

To create the list, ECA International accounted for different variables such as: currency value; the average prices of basic needs like food and gas; and the strength of the country’s currency from samples consisting exclusively of expats. With reports of something like a carton of milk costing at least US$3.00 and a kilo of tomatoes at US$1.47, Hong Kong beats other cities when it comes to being the most expensive to live in.

Tel Aviv is one of the most expensive cities for expats to live in

Image credit: Oren Kfir via Canva Pro

Meanwhile, New York takes a higher ranking this year along with London. While the cost of living is still expensive for expats in Tokyo, it has dropped a few places compared to last year’s list, due to a weak performance from the Japanese yen. Below are the top 10 most expensive cities for expats to live in:

  1. Hong Kong
  2. New York City
  3. Geneva
  4. London
  5. Tokyo
  6. Tel Aviv
  7. Zurich
  8. Shanghai
  9. Guangzhou
  10. Seoul

Asia is named the most expensive continent for expats

Along with Hong Kong, cities like Seoul, Guangzhou, Shanghai, and Tokyo prove that the cost of living for expats is at a premium in Asia. Tel Aviv can also be considered another country in Asia with costly living conditions for expats. According to ECA Asia regional director Lee Quane, the exponential growth from Chinese cities can be attributed to the rising performance of the Chinese yuan, which has been able to keep ahead of inflation.

Guangzhou is one of the most expensive cities for expats in 2022

Image credit: f9photos via Canva Pro

Cities with lower costs of living for expats in 2022

While costs have definitely risen, some cities went down a notch or two from ECA International’s list. Cities such as Paris, Madrid, and Brussels are now below the top 30, a significant drop from their places the year before. According to Quane, currencies from most European cities have underperformed for the past 12 months. Of course, the war between Russia and Ukraine doesn’t help in relieving these costs.

See the entire list from ECA International here.

Also read: These Are the Best Cities to Relocate in 2022, According to UK Study

Would you want to live in these cities? Would it be more practical to leave? We’d love to hear your thoughts on our Facebook page!

Featured image credit: RudyBalasko via Canva Pro
Facebook image credit (L-R): Ben Cheung; Marco_Piunti; Bim via Canva Pro

About Author

Aldous Vince Cabildo
Aldous Vince Cabildo

Ever since growing up, Aldous learned how to look at things from an historical perspective. So whenever the opportunity to travel arises, he makes sure to go to places that contain local stories and memories. From there, he takes in the lessons from the past and picks out what to learn, or should it interest him, what to unlearn. At any chance he gets, he also makes sure to try out local cuisine. When not charting his next destination, Aldous likes to explore worlds found in video games, hip-hop, film, and professional wrestling. He is a proud resident of Tondo.


Related Posts