It’s now more expensive to live in Honolulu than in Rome, at least if you’re an expatriate. That’s according to the latest rankings put out by Mercer, a global business consultant. The company’s annual cost of living survey also finds HALF of the world’s ten most expensive cities are in Asia. HPR’s Bill Dorman has details in today’s Asia Minute.
A two-bedroom apartment in Hong Kong rents for more than 6,500 dollars a month. That’s just one finding from the annual Cost of Living Survey done by the consulting firm Mercer. The company tracks prices of more than 200 items in more than 200 cities-- from a cup of coffee or a pair of jeans to transportation and entertainment, and then ranks the cities based on costs.
Five of the top ten most expensive cities for expatriates are in Asia. Hong Kong is number two, and Singapore is number four. Shanghai and Beijing are back to back at six and seven…followed by Seoul at number eight. Three cities in Switzerland and two in Africa round out the top ten. Luanda, Angola is the most expensive, mostly because of the cost of safe housing. This year, Tokyo dropped out of the top ten.
It’s not that things are getting cheaper in the Japanese capital, but as anyone in Hawai‘i’s hospitality industry can tell you, it’s the exchange rate. And by the way, that strong dollar is one factor that pushed Honolulu up 45 places compared to last year.
Mercer puts Honolulu at #52 on the global cost of living scale for expatriates…just behind Washington DC.
