What city had the highest cost of living?

Hong Kong, Singapore, and Zurich Top Mercer’s 2024 Cost-of-Living Rankings

A recent study conducted by Mercer has revealed the cities with the highest cost of living for international professionals in 2024. The study analyzed the expenses associated with housing, transportation, food, entertainment, and other essential goods and services in major cities around the world.

The results of the study indicate that three cities stand out as having the most expensive lifestyles:

1. Hong Kong

Hong Kong has retained its position as the most expensive city for international professionals for the third consecutive year. The city’s high real estate prices, expensive transportation options, and overall high cost of living contribute to its exorbitant expenses.

2. Singapore

Singapore ranks as the second most expensive city on the list. The city’s thriving economy and strong currency have significantly driven up the cost of living in recent years. Housing and transportation costs are particularly high in Singapore.

3. Zurich

Zurich, Switzerland, rounds out the top three most expensive cities in the ranking. Switzerland’s reputation for high living standards and its strong economy make Zurich an expensive destination for international professionals. Housing and healthcare costs are especially noteworthy in Zurich.

The Mercer study also identified several other cities with high costs of living for international professionals, including:

• New York City
• Tokyo
• Bern
• Geneva
• London

The increasing cost of living in major cities is a significant concern for international businesses and employees alike. Companies relocating employees overseas must take into account the financial implications of living in these expensive destinations. International professionals should also be prepared for the financial challenges they may encounter when moving to highly-ranked cities on the Mercer list.