If you want to work abroad, avoid Hong Kong as it has been named the most expensive city for expats for the 5th year in a row.
In an annual survey by Mercer, Hong Kong was named the most expensive city in the world for expats.
Singapore was named the second most expensive city after Hong Kong, while the Swiss city of Zurich was ranked third.
Switzerland’s cities Geneva, Basel and Bern were ranked fourth, fifth and sixth, while New York was declared the 7th most expensive city.
London, Nassau and Los Angeles ranked 8th, 9th and 10th respectively.
The survey compared the prices of more than 200 goods in 226 cities around the world.
The Nigerian cities of Abuja and Lagos were named the cheapest cities for expats, ranking 226th and 225th respectively on the list.
The third cheapest city in the world for immigrants was the Pakistani capital Islamabad, which was ranked 224th, while the city of Kyrgyzstan, Bishkek, was declared the fourth cheapest city.
Last year, Karachi was the cheapest city in the world for expats, but this time it dropped to the 5th place.
The survey report stated that rising inflation, economic and geographic tensions have increased the cost of housing, utility services and educational facilities worldwide, while tax rates have also increased.