Asian cities continue to dominate the list of most expensive locations for working abroad, according to human resources consulting firm Mercer's 2019 rankings
Bangladesh has been ranked 47th in the ‘Cost of Living City Rankings 2019’ leaving behind other South Asian cities, making a jump from 66th in 2018's edition.
Asian cities continue to dominate the list of most expensive locations for working abroad, according to human resources consulting firm Mercer 2019 rankings, where eight of the top 10 spots belong to Asia.
Dhaka topped the list among other South Asian cities, as compared to Mumbai, which ranked 67th, Yangon 117th, New Delhi 118th, Chennai 154th, Bengaluru 179th, Kolkata 189th, Islamabad 203rd and Karachi 207th.
The top 10 cities are Hong Kong, Tokyo, Singapore, Seoul, Zürich, Shanghai, Ashgabat (Turkmenistan), Beijing, New York, and Shenzhen (China).
Mercer’s cost of living reports are based on the multinational approach to cost of living, which assumes expatriates spend the same in the host location, regardless of home country/market. City-to-city indices help set appropriate allowances.
Eight of the top ten cities in this year’s ranking are in Asia due in part to a strong housing market. Hong Kong remains the most expensive city for expatriates both in Asia and globally as a result of the housing market and currency being pegged to the US dollar, driving up the cost of living locally.
This global financial center is followed by Tokyo (2), Singapore (3), Seoul (4), Shanghai (6), and Ashgabat, Turkmenistan (7).
Elsewhere in Asia, Bangkok (40) jumped twelve places from last year.
The ranking is based on several criteria, which includes an international basket of goods and services reflecting realistic spending habits established through years of extensive expatriate research, distinct Cost of Living (COL) indices and price information for different types of expatriate shoppers, reports on other costs and more.