Hong Kong is the world’s most expensive city to live in for foreign workers for a second consecutive year due to higher prices and a stronger currency.
New York and Geneva came in second and third in the rankings, according to a study conducted in March by ECA International, a market research company that helps companies to calculate cost-of-living allowances for employees on international assignments. The report ranks 207 cities in 120 countries.
London and Tokyo round off the top five most expensive cities for foreign workers. Steep rent rises were part of the reason London and New York were among the top five most expensive cities, with the cost of leasing property in those cities increasing by 20 per cent and 12 per cent, respectively, according to ECA research.
“Although Hong Kong has been impacted by rising global inflation less than other regional and global locations in the past year, it, nonetheless, remains the most expensive location in the world,” said Lee Quane, ECA International’s regional director for Asia.
“It has been the strength of the Hong Kong dollar, which is pegged to the US dollar, in the past year which has enabled it to maintain its position as the most expensive location worldwide as other currencies have weakened.”
A cup of coffee at $5.21, a litre of petrol at $3.04 and a kilogram of tomatoes at $11.51 were only a few of the prices that took Hong Kong to the top of the list, the research showed.
The survey compared a basket of like-for-like consumer goods and services commonly purchased by foreign workers, while accommodation data was also factored in.
Fuel is one of the major contributing factors to the rising cost of living across the world as demand for oil has surged ahead of supply.
Russia’s military offensive in Ukraine has stoked the global commodities cycle, adding to economic uncertainty, denting global growth and exacerbating inflationary pressures.
Sanctions against Russia, the world’s second-largest energy exporter, are also affecting global energy supplies. Oil prices, which rose 67 per cent in 2021, rallied to a notch under $140 a barrel in March before giving up some gains. They are still up more than 70 per cent since last year.
Food prices remain close to a record high, driven up by the war in Ukraine, and are expected to increase about 14 per cent this year, on top of the 28 per cent gain in 2021.
Russia and Ukraine collectively account for about a quarter of global wheat supply. Before the war, Russia was the world’s largest wheat exporter and Ukraine the fifth, according to World Bank data.
Inflation rose to 9.2 per cent in Organisation for Economic Co-operation and Development countries in April, and was at 40-highs in the US and the UK, driven by a rise in the cost of services and food.
Abu Dhabi climbed six places to rank 22nd in ECA's cost-of-living index, followed by Dubai, which rose eight places to rank 23rd. Meanwhile, Riyadh also rose eight places to be ranked 28th on the index, followed by Doha, which ranked 35th, after climbing 14 places.
“Overall, cities in the region have risen in the rankings in the last year. With inflation up globally, including in the UAE and elsewhere in the region, it is the strong currencies that have pushed these cities in the region up in the rankings compared with other cities,” ECA said.
Amman was ranked 63rd, up two places compared with 2021, and just below Houston (61st) and Moscow (62nd) in the index. Inflation in Jordan has been lower than in much of the region, but the strength of the dinar pushed Amman up a couple of places in the rankings, according to the research.
Meanwhile, Beirut was ranked 153rd in the cost-of-living index, down 131 places. Despite massive price rises in Beirut, the city plunged in the rankings as the Lebanese pound was devalued. This has made the country cheaper for those paid in other currencies as, even after the price rises, they can now buy more in Beirut for their money than before the devaluation, the survey found.
Many Chinese cities have continued to rise up the cost-of-living rankings, with Shanghai now the third-most expensive city in Asia after Hong Kong and Tokyo.
“The main reason for their rise in the rankings has been the continued strength of the Chinese yuan against other major currencies, due to China’s relatively strong economic performance during the survey period, which makes these cities more expensive relative to other locations,” Mr Quane said.
Meanwhile, Japanese cities all slipped in the rankings as the yen weakened due to unexpectedly higher inflation, alongside negative interest rates, the report revealed.
The yen has hit a 20-year low against the US dollar and is at a seven-year low against the euro.
“The weaker yen makes goods relatively cheaper for visitors and expatriate workers paid in other currencies as their money will now go further,” Mr Quane said.
Singapore stayed in 13th place despite significant increases in rent, petrol prices and utility costs. Those were offset by the Singapore dollar, which weakened against other regional currencies during the latter part of the survey period, ECA said.
Other countries in South-East Asia also dropped in the rankings. While Laos and Myanmar experienced high rates of inflation — of about 10 per cent — in the past 12 months, they still fell in the cost-of-living index as their currencies weakened considerably, the company said.
In Thailand, the slow pace of tourism recovery hit the Thai baht during the survey period, further pushing down its ranking, ECA said.
Most locations within the EU fell down the rankings after an unsteady period for the euro, with Paris falling out of the global top 30 and cities such as Madrid, Brussels and Rome slipping, too, according to the research.
“Nearly every major eurozone city saw a drop in the rankings this year as the euro performed worse in the last 12 months than the US dollar and British pound,” Mr Quane said.
Turkey’s Ankara is the cheapest city in the world for foreign workers, after falling five spots to 207th place, ECA research found.
The location that recorded the fastest rate of price growth in the past year was Colombo in Sri Lanka, climbing 23 places up the ECA’s rankings into 149th position globally.
Top 20 most expensive places for foreign workers in 2022
- Hong Kong
- New York
- Geneva
- London
- Tokyo
- Tel Aviv
- Zurich
- Shanghai
- Guangzhou
- Seoul
- San Francisco
- Shenzhen
- Singapore
- Beijing
- Jerusalem
- Bern
- Yokohama
- Copenhagen
- Oslo
- Taipei
Meydan racecard:
6.30pm: Handicap | US$135,000 (Dirt) | 1,400 metres
7.05pm: Handicap | $135,000 (Turf) | 1,200m
7.40pm: Dubai Millennium Stakes | Group 3 | $200,000 (T) | 2,000m
8.15pm: UAE Oaks | Group 3 | $250,000 (D) | 1,900m
8.50pm: Zabeel Mile | Group 2 | $250,000 (T) | 1,600m
9.20pm: Handicap | $135,000 (T) | 1,600m
The Bio
Ram Buxani earned a salary of 125 rupees per month in 1959
Indian currency was then legal tender in the Trucial States.
He received the wages plus food, accommodation, a haircut and cinema ticket twice a month and actuals for shaving and laundry expenses
Buxani followed in his father’s footsteps when he applied for a job overseas
His father Jivat Ram worked in general merchandize store in Gibraltar and the Canary Islands in the early 1930s
Buxani grew the UAE business over several sectors from retail to financial services but is attached to the original textile business
He talks in detail about natural fibres, the texture of cloth, mirrorwork and embroidery
Buxani lives by a simple philosophy – do good to all
Messi at the Copa America
2007 – lost 3-0 to Brazil in the final
2011 – lost to Uruguay on penalties in the quarter-finals
2015 – lost to Chile on penalties in the final
2016 – lost to Chile on penalties in the final
GOLF’S RAHMBO
- 5 wins in 22 months as pro
- Three wins in past 10 starts
- 45 pro starts worldwide: 5 wins, 17 top 5s
- Ranked 551th in world on debut, now No 4 (was No 2 earlier this year)
- 5th player in last 30 years to win 3 European Tour and 2 PGA Tour titles before age 24 (Woods, Garcia, McIlroy, Spieth)
Why are asylum seekers being housed in hotels?
The number of asylum applications in the UK has reached a new record high, driven by those illegally entering the country in small boats crossing the English Channel.
A total of 111,084 people applied for asylum in the UK in the year to June 2025, the highest number for any 12-month period since current records began in 2001.
Asylum seekers and their families can be housed in temporary accommodation while their claim is assessed.
The Home Office provides the accommodation, meaning asylum seekers cannot choose where they live.
When there is not enough housing, the Home Office can move people to hotels or large sites like former military bases.
The biog
Place of birth: Kalba
Family: Mother of eight children and has 10 grandchildren
Favourite traditional dish: Al Harees, a slow cooked porridge-like dish made from boiled cracked or coarsely ground wheat mixed with meat or chicken
Favourite book: My early life by Sheikh Dr Sultan bin Muhammad Al Qasimi, the Ruler of Sharjah
Favourite quote: By Sheikh Zayed, the UAE's Founding Father, “Those who have no past will have no present or future.”
Specs
Engine: Dual-motor all-wheel-drive electric
Range: Up to 610km
Power: 905hp
Torque: 985Nm
Price: From Dh439,000
Available: Now
THE LIGHT
Director: Tom Tykwer
Starring: Tala Al Deen, Nicolette Krebitz, Lars Eidinger
Rating: 3/5
Famous left-handers
- Marie Curie
- Jimi Hendrix
- Leonardo Di Vinci
- David Bowie
- Paul McCartney
- Albert Einstein
- Jack the Ripper
- Barack Obama
- Helen Keller
- Joan of Arc
BORDERLANDS
Starring: Cate Blanchett, Kevin Hart, Jamie Lee Curtis
Director: Eli Roth
Rating: 0/5
THE%20STRANGERS'%20CASE
%3Cp%3E%3Cstrong%3EDirector%3C%2Fstrong%3E%3A%20Brandt%20Andersen%3Cbr%3E%3Cstrong%3EStarring%3A%20%3C%2Fstrong%3EOmar%20Sy%2C%20Jason%20Beghe%2C%20Angeliki%20Papoulia%3Cbr%3E%3Cstrong%3ERating%3A%3C%2Fstrong%3E%204%2F5%3C%2Fp%3E%0A
Company%20profile
%3Cp%3EName%3A%20Cashew%0D%3Cbr%3EStarted%3A%202020%0D%3Cbr%3EFounders%3A%20Ibtissam%20Ouassif%20and%20Ammar%20Afif%0D%3Cbr%3EBased%3A%20Dubai%2C%20UAE%0D%3Cbr%3EIndustry%3A%20FinTech%0D%3Cbr%3EFunding%20size%3A%20%2410m%0D%3Cbr%3EInvestors%3A%20Mashreq%2C%20others%0D%3C%2Fp%3E%0A
UAE currency: the story behind the money in your pockets
The biog
Hobbies: Writing and running
Favourite sport: beach volleyball
Favourite holiday destinations: Turkey and Puerto Rico
Our legal consultants
Name: Hassan Mohsen Elhais
Position: legal consultant with Al Rowaad Advocates and Legal Consultants.
Crops that could be introduced to the UAE
1: Quinoa
2. Bathua
3. Amaranth
4. Pearl and finger millet
5. Sorghum
The National's picks
4.35pm: Tilal Al Khalediah
5.10pm: Continous
5.45pm: Raging Torrent
6.20pm: West Acre
7pm: Flood Zone
7.40pm: Straight No Chaser
8.15pm: Romantic Warrior
8.50pm: Calandogan
9.30pm: Forever Young
Story%20behind%20the%20UAE%20flag
%3Cp%3EThe%20UAE%20flag%20was%20first%20unveiled%20on%20December%202%2C%201971%2C%20the%20day%20the%20UAE%20was%20formed.%C2%A0%3C%2Fp%3E%0A%3Cp%3EIt%20was%20designed%20by%20Abdullah%20Mohammed%20Al%20Maainah%2C%2019%2C%20an%20Emirati%20from%20Abu%20Dhabi.%C2%A0%3C%2Fp%3E%0A%3Cp%3EMr%20Al%20Maainah%20said%20in%20an%20interview%20with%20%3Cem%3EThe%20National%3C%2Fem%3E%20in%202011%20he%20chose%20the%20colours%20for%20local%20reasons.%C2%A0%3C%2Fp%3E%0A%3Cp%3EThe%20black%20represents%20the%20oil%20riches%20that%20transformed%20the%20UAE%2C%20green%20stands%20for%20fertility%20and%20the%20red%20and%20white%20colours%20were%20drawn%20from%20those%20found%20in%20existing%20emirate%20flags.%3C%2Fp%3E%0A
Dhadak 2
Director: Shazia Iqbal
Starring: Siddhant Chaturvedi, Triptii Dimri
Rating: 1/5
How to watch Ireland v Pakistan in UAE
When: The one-off Test starts on Friday, May 11
What time: Each day’s play is scheduled to start at 2pm UAE time.
TV: The match will be broadcast on OSN Sports Cricket HD. Subscribers to the channel can also stream the action live on OSN Play.
Specs
Engine: Duel electric motors
Power: 659hp
Torque: 1075Nm
On sale: Available for pre-order now
Price: On request
ESSENTIALS
The flights
Etihad (etihad.com) flies from Abu Dhabi to Mykonos, with a flight change to its partner airline Olympic Air in Athens. Return flights cost from Dh4,105 per person, including taxes.
Where to stay
The modern-art-filled Ambassador hotel (myconianambassador.gr) is 15 minutes outside Mykonos Town on a hillside 500 metres from the Platis Gialos Beach, with a bus into town every 30 minutes (a taxi costs €15 [Dh66]). The Nammos and Scorpios beach clubs are a 10- to 20-minute walk (or water-taxi ride) away. All 70 rooms have a large balcony, many with a Jacuzzi, and of the 15 suites, five have a plunge pool. There’s also a private eight-bedroom villa. Double rooms cost from €240 (Dh1,063) including breakfast, out of season, and from €595 (Dh2,636) in July/August.
Ferrari 12Cilindri specs
Engine: naturally aspirated 6.5-liter V12
Power: 819hp
Torque: 678Nm at 7,250rpm
Price: From Dh1,700,000
Available: Now
if you go
Getting there
Etihad (Etihad.com), Emirates (emirates.com) and Air France (www.airfrance.com) fly to Paris’ Charles de Gaulle Airport, from Abu Dhabi and Dubai respectively. Return flights cost from around Dh3,785. It takes about 40 minutes to get from Paris to Compiègne by train, with return tickets costing €19. The Glade of the Armistice is 6.6km east of the railway station.
Staying there
On a handsome, tree-lined street near the Chateau’s park, La Parenthèse du Rond Royal (laparenthesedurondroyal.com) offers spacious b&b accommodation with thoughtful design touches. Lots of natural woods, old fashioned travelling trunks as decoration and multi-nozzle showers are part of the look, while there are free bikes for those who want to cycle to the glade. Prices start at €120 a night.
More information: musee-armistice-14-18.fr ; compiegne-tourisme.fr; uk.france.fr
