Top 10 most expensive cities for expats in 2024: As the world becomes increasingly interconnected, more individuals are choosing to relocate abroad for work, education, or personal reasons. For expats, uprooting their lives and moving to a completely different city for work isn’t always an easy decision. Living in a new city can be a significant challenge, with many factors to consider, and the cost of living is undoubtedly high on the priority list.
So, which international city is the most expensive in the world for expats to move to? Mercer, in its recently released report ‘Cost of Living City Ranking 2024,’ has evaluated 226 cities and the costs of housing, transportation, food, clothing, household goods, entertainment, and more to reveal the most expensive cities in the world in 2024.
Undeniably, Hong Kong is the most expensive city in the world for expats to live in, reclaiming its position for the fifth time. Singapore, another Asian economic hub, follows closely in second place. In Europe, London and cities in Switzerland, along with American cities like New York City and Los Angeles, make up the top ten spots.
Advertisem*nt
In a notable shift, neither New Delhi – ranking 165thnor Bengaluru – ranking 195themerged as one of India’s most expensive cities. Mumbai has climbed to 136th place in the global ranking, a significant 11-place jump since last year.
Even Dubai has made a significant leap with a global ranking of 15th, evolving as one of the most expensive cities in the Middle East. Meanwhile, Sydney in Australia has secured the top spot in the Pacific region, ranking 58th globally.
Explore | Top 10 best ‘expat-friendly’ countries
“Cost-of-living challenges have had a significant impact on multinational organisations and their employees,” as Yvonne Traber, Mercer’s global mobility leader, stated; conversely, Islamabad (rank 224), Lagos (rank 225), and Abuja (226)have emerged as the three most affordable cities for expats.
The high cost of living in these cities is primarily attributed to expensive housing markets and increased transportation, goods, and service costs. Discover the top 10 most expensive cities in the world for expats in 2024.
Advertisem*nt
The top 10 most expensive global cities for expats in 2024:
| Ranking | City | Country |
| 1 | Hong Kong | Hong Kong SAR |
| 2 | Singapore | Singapore |
| 3 | Zurich | Switzerland |
| 4 | Geneva | Switzerland |
| 5 | Basel | Switzerland |
| 6 | Bern | Switzerland |
| 7 | New York | United States |
| 8 | London | United Kingdom |
| 9 | Nassau | Bahamas |
| 10 | Los Angeles | United States |
Source: Mercer
1. Hong Kong:
Hong Kong (Credit: Wikipedia Commons)
Hong Kong, for the fifth time, has again claimed the top spot as the world’s most expensive city for expatriates. Offering a vibrant and cosmopolitan lifestyle and attracting a large influx of international workers, the city’s scarcity of living spaces has made it increasingly challenging for expats to find affordable accommodations, contributing to its status as the priciest destination.
2. Singapore:
Singapore (Credit: Wikipedia Commons)
Singapore, closely following Hong Kong and retaining its position, has emerged as the second-most expensive city for expats. The city-state’s strategic location, stable political environment, and business-friendly policies have made it a magnet for global talent. However, this popularity has also driven up the cost of living, particularly in the housing sector, owing to its limited land area and strict urban planning regulations, forcing expats to allocate a significant portion of their income towards rent or mortgage payments.
Also Read | Top 10 wealthiest cities in the world in 2024
3. Zurich, Switzerland:
Zurich, Switzerland (Credit: Wikimedia Commons)
Zurich, the financial capital of Switzerland, ranks third again on the list of the world’s most expensive cities for expatriates. The city’s affluence, high standard of living, and strong economy contribute to its elevated cost of living.
Advertisem*nt
Check | The top 10 countries with the best work-life balance
4. Geneva, Switzerland:
Geneva, Switzerland (Credit: Wikimedia Commons)
Geneva, the global hub for international organisations and diplomacy, once again has emerged as the fourth-most expensive city for expats. In addition to being a centre of wealth and luxury, combined with its limited land area, has driven up the cost of living. Expats in Geneva face high rents, particularly in the city centre, and must contend with the overall high prices of goods and services. However, the city’s strategic location, multilingual environment, and access to world-class amenities make it an attractive destination for international professionals.
5. Basel, Switzerland:
Basel, Switzerland (Credit: Wikimedia Commons)
Basel, another Swiss city, rounds out the top five most expensive destinations for expatriates from last year. Basel, a hub for the pharmaceutical and chemical industries, attracts a significant number of international workers. A well-developed infrastructure, a high-quality healthcare system, and a vibrant cultural scene contribute not only to its desirability but also to its elevated prices, further driving up the cost of living.
6. Bern, Switzerland:
Bern, Switzerland (Credit: Wikimedia Commons)
Bern, the capital of Switzerland, has emerged as the sixth-most expensive city for expats this year, pushing New York to the seventh. With a well-developed infrastructure and access to high-quality public services, Bern is home to a thriving diplomatic community and a robust financial sector, which contribute to the city’s high cost of living, with expats facing steep housing costs.
Know | Top 10 global startup cities in 2024
7. New York City:
New York City, USA (Credit: Conde Nast Traveller)
New York City, the financial and cultural capital of the United States, ranks seventh on the list of the world’s most expensive cities for expatriates. The city’s iconic skyline, diverse neighbourhoods, and global influence make it a highly desirable destination for international professionals. However, this popularity has driven up the cost of living, particularly for expats, who allocate a significant portion of their income towards rent due to the high cost of transportation (taxis particularly) and basic needs.
Advertisem*nt
8. London, United Kingdom:
London, UK (Credit: Wikimedia Commons)
London, the capital city of the United Kingdom, has experienced a significant leap in the rankings, climbing from seventeenth place to eighth this year, making it one of the costliest cities for international workers. The city’s status as a global financial hub, coupled with its rich cultural heritage and diverse population, has contributed to its high cost of living, especially for expats in London facing steep housing costs.
9. Nassau, The Bahamas:
Nassau, The Bahamas (Credit: Wikimedia Commons)
Nassau, the capital of The Bahamas, enters the top 10 list as the ninth most expensive city for expatriates. Known as a popular tourist destination and a hub for international business, it has led to a rise in its cost of living. Expats in Nassau can expect to pay premium prices for housing, goods, and services.
10. Los Angeles, USA:
Los Angeles, USA (Credit: Wikimedia Commons)
Rounding out the top 10 is Los Angeles, the second US city to make the list. As a global centre of entertainment, technology, and finance, Los Angeles has become an increasingly attractive destination for international workers. However, the city’s high housing costs, coupled with the expense of transportation, goods, and services, have made it one of the most expensive cities for expats to call home.
