Travel TrendsAsia rising together: Half of top 20 costliest cities are located in the continent.

These are the world's most expensive cities in 2022

For the third year in a row, Hong Kong is considered the world’s most expensive city.
For the third year in a row, Hong Kong is considered the world’s most expensive city. Photo Credit: GettyImages/elwynn1130

Hong Kong has once again taken the crown as the world’s most expensive city for expats and foreign workers to live in according to the annual report by global mobility company ECA International.

2022 marks the third consecutive year that Hong Kong emerged as the top city with the highest cost of living. The global mobility company has been releasing its Cost of Living ranking since 1996, with the aim of helping businesses make more cost effective decisions when sending employees on international assignments.

The research was derived after extensive analyses of the cost of consumer goods and services in more than 490 locations worldwide, and rental costs in over 420 countries. It even takes into account the finer details like the price differentiation of tomatoes, cooking oil, petrol, milk and coffee at café across these hundreds of destinations.

These are the world's most expensive cities in 2022

Asia is the most expensive continent in the world in 2022. Cities in Asia make up for half of the top 20 most expensive locations for expatriates, with exactly 10 Asian cities in the list, comprising Hong Kong, Tokyo, Shanghai, Guangzhou, Seoul, Shenzhen, Singapore, Beijing, Yokohama and Taipei.

Expats living in Hong Kong will especially feel the pinch fuelling their vehicles up with the world’s most expensive petrol here, which comes in at approximately US$2.78 per litre. Meanwhile, other Chinese cities are also subjected to higher inflation rates in the past year, with most of them continuing to rise in the rankings. Singapore’s ranking, however, remains unchanged this year, even though there have been significant price increases especially with housing rental costs, utilities and petrol.

Top 20 most expensive cities in 2022
1. Hong Kong
2. New York, US
3. Geneva, Switzerland
4. London, United Kingdom
5. Tokyo, Japan
6. Tel Aviv, Israel
7. Zurich, Switzerland
8. Shanghai, China
9. Huangzhou, China
10. Seoul, South Korea
11. San Francisco, US
12. Shenzhen, China
13. Singapore
14. Beijing, China
15. Jerusalem, Israel
16. Bern, Switzerland
17. Yokohama, Japan
18. Copenhagen, Denmark
19. Oslo, Norway
20. Taipei, Taiwan

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