According to a study, New York is the most expensive city in the world for citizens of other countries, Hong Kong is the second, and London is the fourth. Karachi, Pakistan’s largest city, is the final stop.
ECA International, a software company, has released its annual report on the most expensive and cheapest cities in the world, which compares the costs faced by citizens of other countries in 207 cities around the world.
According to a long-running study, New York City has surpassed Hong Kong as the most expensive city in the world. Hong Kong had previously held the top spot for four years, but it will drop to second place in 2023.
According to the study, Geneva, Switzerland, is the most expensive city in Europe and the third most expensive city in the world for foreigners. Aside from London, Birmingham ranks 115th, Cardiff ranks 118th, and Belfast ranks 123rd on the list of the most expensive cities in the United Kingdom. Birmingham is only one place higher than St Petersburg, Russia, which has dropped 16 places.
According to the report, Edinburgh is ranked 90th, up from 83rd last year, making it the UK’s second most expensive city after London.
ECA International conducts research to assist businesses in estimating the cost of living around the world in order to calculate salaries in various countries.
Karachi, Pakistan’s most populous city, is the cheapest place for expats, ranking 207th.
Skopje, the cheapest Macedonian city in Europe, is ranked 197th globally, followed by Timisoara, Romania (193rd globally).
According to the researchers, Dublin, the capital of the Republic of Ireland, has risen six places this year to 38th place.
The survey compares commonly purchased consumer goods and services, such as coffee, sugar and eggs, household goods and transportation, as well as rental spending. There is also information on lodging. According to the study, the following are the ten most expensive cities for immigrants in 2023.
1. New York (USA)
2. Hong Kong (autonomous region of China)
3. Geneva (Switzerland)
4. London (UK)
5. Singapore (Singapore)
6. Zurich (Switzerland)
7. San Francisco (USA)
8. Tel Aviv (Israel)
9. Seoul (South Korea)
10. Tokyo (Japan)
