Hong Kong has been ranked as the most expensive city in the world for foreigners, according to a study conducted by the American consulting company Mercer.
The study measures the cost of 200 items, including housing, transportation, food, clothing, household goods, and entertainment, across 209 cities worldwide.
Largely due to its extremely high housing prices, Hong Kong takes the top spot for the second consecutive year.
It is followed by the capital of Turkmenistan, Ashgabat, where high prices are mainly attributed to rising inflation in the country.
Tokyo ranks third on Mercer’s list, followed by Zurich in Switzerland.
Switzerland also has two other cities in the top ten: Bern and Geneva.
Mercer’s annual cost of living survey is widely used by global corporations to determine salary levels and compensation packages for employees working abroad.
