Budapest Post

Cum Deo pro Patria et Libertate
Budapest, Europe and world news

This European country is the most expensive to live and work abroad in

This European country is the most expensive to live and work abroad in

If you are an expat living in Hong Kong, Zurich or Geneva, life is costing you more than anywhere else on the planet, according to the 2022 Cost of Living Survey, an annual report by consulting firm Mercer.

Hong Kong has been ranked for the fourth time in five years as the world’s most expensive city for expatriates, followed by four Swiss cities: Zurich, Geneva, Basel and Bern.

Ankara, the capital of Turkey, closed the ranking of 227 cities as the world’s most affordable for expats.


If you’re in Europe and looking for a cheaper city to live in, look east: Ankara is followed by Bishkek in Kyrgyzstan (226th), Dushanbe in Tajikistan (225th), and Islamabad and Karachi in Pakistan (224th and 223rd).

Denmark's capital Copenhagen is the most expensive city for expats in the Nordics, ranking 11th globally, while the Swedish capital Stockholm is the most affordable, dropping to 87th place in 2022.


Where does the cost of living meet the quality of living?


Interestingly, two of the world’s priciest cities for expats, Zurich and Geneva, are also in the top five of the Global Liveability Index, an annual report by The Economist Intelligence Unit (EIU) that evaluates which cities around the world offer the best living conditions.

Mercer also analysed the correlation between the Cost of Living Index and their own Quality of Living Index for a selected list of global cities.

The lucky locations with the lowest cost of living but the highest quality of living are Vancouver and Toronto in Canada, Stockholm in Sweden, Lisbon in Portugal and Frankfurt in Germany.

On the other hand, Hong Kong was found to have the highest cost of living but a lower quality of living than many other locations.

Mercer’s report also concluded that locations with a higher cost of living and quality of living tend to rank higher for eco-friendliness.


How the cost of living index is calculated


Mercer’s Cost of Living city ranking is based on the group’s own research, which is carried out twice a year and encompasses over 400 cities around the world.

The survey highlights key economic indicators such as currency fluctuations, cost inflation and accommodation price instability.

It also reflects the prices of over 200 items from categories such as housing utilities, personal care, recreation and entertainment, transportation, alcohol, and tobacco.


Cost of living crisis


As with most things over the past two years, the 2022 cost of living report has been notably impacted by the COVID-19 pandemic and the war in Ukraine, which has fueled skyrocketing inflation and volatility on the markets.

Annual inflation in the eurozone's 19 countries hit a record 8.6 per cent in June, surging past the 8.1 per cent recorded in May, according to the latest figures published Friday by Eurostat, the European Union’s statistics agency.

AI Disclaimer: An advanced artificial intelligence (AI) system generated the content of this page on its own. This innovative technology conducts extensive research from a variety of reliable sources, performs rigorous fact-checking and verification, cleans up and balances biased or manipulated content, and presents a minimal factual summary that is just enough yet essential for you to function as an informed and educated citizen. Please keep in mind, however, that this system is an evolving technology, and as a result, the article may contain accidental inaccuracies or errors. We urge you to help us improve our site by reporting any inaccuracies you find using the "Contact Us" link at the bottom of this page. Your helpful feedback helps us improve our system and deliver more precise content. When you find an article of interest here, please look for the full and extensive coverage of this topic in traditional news sources, as they are written by professional journalists that we try to support, not replace. We appreciate your understanding and assistance.
Newsletter

Related Articles

0:00
0:00
Close
Politics is a good business: Barack Obama’s Reported Net Worth Growth, 1990–2025
UN's Top Court Declares Environmental Protection a Legal Obligation Under International Law
"Crazy Thing": OpenAI's Sam Altman Warns Of AI Voice Fraud Crisis In Banking
The Podcaster Who Accidentally Revealed He Earns Over $10 Million a Year
UK Government Considers Dropping Demand for Apple Encryption Backdoor
Japanese Man Discovers Family Connection Through DNA Testing After Decades of Separation
Russia Signals Openness to Ukraine Peace Talks Amid Escalating Drone Warfare
Switzerland Implements Ban on Mammography Screening
Pogacar Extends Dominance with Stage Fifteen Triumph at Tour de France
President Trump Diagnosed with Chronic Venous Insufficiency After Leg Swelling
CEO Resigns Amid Controversy Over Relationship with HR Executive
NVIDIA Achieves $4 Trillion Valuation Amid AI Demand
Tulsi Gabbard Unveils Evidence Alleging Political Manipulation of Intelligence During Trump Administration
Centrist Criticism of von der Leyen Resurfaces as she Survives EU Confidence Vote
Trump Announces Coca-Cola to Shift to Cane Sugar in U.S. Production
FIFA Pressured to Rethink World Cup Calendar Due to Climate Change
Zelensky Reshuffles Cabinet to Win Support at Home and in Washington
"Can You Hit Moscow?" Trump Asked Zelensky To Make Putin "Feel The Pain"
Church of England Removes 1991 Sexuality Guidelines from Clergy Selection
Superman Franchise Achieves Success with Latest Release
Hungary's Viktor Orban Rejects Agreements on Illegal Migration
Air India Pilot’s Mental Health Records Under Scrutiny
Jamie Dimon Warns Europe Is Losing Global Competitiveness and Flags Market Complacency
Moonshot AI Unveils Kimi K2: A New Open-Source AI Model
Martha Wells Says Humanity Still Far from True Artificial Intelligence
Nvidia Becomes World’s First Four‑Trillion‑Dollar Company Amid AI Boom
EU Delays Retaliatory Tariffs Amid New U.S. Threats on Imports
Trump Proposes Supplying Arms to Ukraine Through NATO Allies
US Opens First Rare Earth Mine in Over 70 Years in Wyoming
Bitcoin Reaches New Milestone of $116,000
Severe Heatwave Claims 2,300 Lives Across Europe
Declining Beer Consumption Signals Cultural Shift in Germany
Emails Leaked: How Passenger Luggage Became a Side Income for Airport Workers
Polish MEP: “Dear Leftists - China is laughing at you, Russia is laughing, India is laughing”
Western Europe Records Hottest June on Record
BRICS Expands Membership with Indonesia and Ten New Partner Countries
Elon Musk Founds a Party Following a Poll on X: "You Wanted It – You Got It!"
China’s Central Bank Consults European Peers on Low-Rate Strategies
France Requests Airlines to Cut Flights at Paris Airports Amid Planned Air Traffic Controller Strike
Poland Implements Border Checks Amid Growing Migration Tensions
Emirates Airline Expands Market Share with New $20 Million Campaign
Amazon Reaches Milestone with Deployment of One Millionth Robot
Yulia Putintseva Calls for Spectator Ejection at Wimbledon Over Safety Concerns
House Oversight Committee Subpoenas Former Jill Biden Aide Amid Investigation into Alleged Concealment of President Biden's Cognitive Health
Amazon Reaches Major Automation Milestone with Over One Million Robots
Extreme Heat Wave Sweeps Across Europe, Hitting Record Temperatures
Meta Announces Formation of Ambitious AI Unit, Meta Superintelligence Labs
Robots Compete in Football Tournament in China Amid Injuries
China Unveils Miniature Insect-Like Surveillance Drone
Marc Marquez Claims Victory at Dutch Grand Prix Amidst Family Misfortune
×