Worldwide Cost of Living
The three cities with the highest cost of living
How to determine the salary of employees working in different places?
Mercer’s cost of living survey helps employers formulate compensation strategies in an increasingly diverse and fragmented global workforce.
Ashgabat, Hong Kong and Beirut are the three cities with the highest cost of living for internationally dispatched employees this year!
Ashgabat became the city with the highest cost of living for internationally dispatched employees this year, followed by Hong Kong and Beirut. Due to the political turmoil in the past few years, the Lebanese capital has risen 42 places in the ranking. Both the COVID-19 pandemic and the Beirut port bombing have magnified the economic impact and caused inflation to reach record highs.
Compared with last year, the rankings of Tokyo and Zurich dropped one place respectively to fourth and fifth. In Mercer’s “Cost of Living Ranking List”, other cities ranked among the top 10 include Shanghai (6), Singapore (7), Geneva (8), Beijing (9) and Berne (10). According to Mercer’s survey, for internationally dispatched employees, the world’s lowest cost of living cities are Tbilisi (207), Lusaka (208) and Bishkek (209).
Due to the appreciation of the renminbi against the U.S. dollar and the country’s rapid escape from the impact of the new crown epidemic, all mainland Chinese cities have risen in the rankings. Among them, Shanghai and Beijing still maintained their top ten positions, and both rose one place from last year; Tianjin and Chengdu rose 12 places to 26th and 28th respectively.
What factors affect our purchasing power?
Currency exchange rate fluctuations and changes in the prices of goods and services have a significant impact on the purchasing power of internationally dispatched employees.
What factors determine the cost of living?
In addition to evaluating more than 200 products and services, Mercer’s cost of living survey also focuses on key factors that determine the cost of dispatch plans, such as exchange rate fluctuations, cost inflation, and unstable accommodation prices.
The prices of the goods and services being evaluated include：
- Housing
- Food
- Daily goods
- Tobacco and alcohol
- Personal care
- Transportation
- Clothing and footwear
- Housekeeping
- Leisure and entertainment
- Public facilities
- Medical fees
The 2021 cost of living ranking summarizes the results of 209 cities on five continents and measures the comparative costs of more than 200 projects in each place.
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