- 14 Mar 2002
- Reaction score
According to Mercer's 2021 Cost of Living city ranking Tokyo is the world's fourth most expensive city for ex-pats. Ranking second in 2019 and third in 2020, Tokyo is outranked by Ashgabat, the capital of Turkmenistan, Hongkong, and Beirut. Mercer’s 2021 index ranked the cost of living in 209 cities, by comparing the cost of more than 200 items in each location, including food, household goods, transportation and housing.
Ashgabat, which has been named as the most expensive cities for overseas workers was last year on number two in the list of world's most expensive cities. Turkmenistan's ongoing financial crisis, which has led to food shortages and hyperinflation, is cited by Mercer as the reason why Ashgabat's cost of living has risen over the past couple of years. The biggest change from last year's Mercer survey sees Beirut rising from the 45th most expensive city for international workers in 2020 to the third priciest for 2021. Mercer puts this development down to Lebanon's economic depression, which was exacerbated by the COVID-19 pandemic and the Port of Beirut explosion in August last year. Meanwhile, as the Euro gained almost 11 per cent against the US dollar, European cities were ranked comparatively more expensive than their US counterparts. This led to New York City dropping out of the Mercer top 10 altogether, while Paris climbed the rankings from number 50 in 2020 to number 33 in 2021. Similarly, the appreciation of the Australian Dollar saw Aussie cities like Sydney and Melbourne climb up Mercer's ranking. As for the cheapest cities for overseas workers, Mercer's ranking pinpoints Tbilisi, Georgia (number 207), Lusaka, Zambia (number 208) and Bishkek, Kyrgyzstan (number 209).
The most expensive city to live and work overseas in 2021 has been found to be Ashgabat, the capital of Turkmenistan, according to a report by Mercer.
Turkmenistan's capital, Ashgabat, topped the list, up from second, while Hong Kong slid to second after being last year's costliest city, Mercer's Cost of Living Survey showed.