Hong Kong, China. Reuters
Hong Kong, China. Reuters
Hong Kong, China. Reuters
Hong Kong, China. Reuters

Hong Kong stays on top of global ‘most expensive cities’ list


Soraya Ebrahimi
  • English
  • Arabic

Hong Kong has retained the top spot in this year’s global index, which looks at the most expensive cities for expatriate employees.

Singapore came second, with Swiss cities Zurich, Geneva and Basel rounding out the top five most expensive cities.

London has jumped into the top 10, going up nine places since last year, to be ranked eighth in Mercer’s 2024 cost-of-living city ranking.

Placed just below New York on the list, London jumped up thanks to factors including the general cost of living and rental prices, according to those behind the list.

Edinburgh was placed at 53, Glasgow at 68, Birmingham at 78, Aberdeen at 82, and Belfast at 87.

Paris was ranked at 29 and Dublin at 41.

The index includes 226 locations. It measures the comparative cost of more than 200 items in each location, including transport, food, clothing, household goods and entertainment.

Abuja in Nigeria was ranked the least expensive, at 226.

Mercer, a business of Marsh McLennan, compiles the ranking to help multinational employers plan compensation packages for workers.

Rising housing costs in many cities have been a challenge for employers, with volatile inflation trends also putting a strain on workers’ compensation packages, Mercer said.

Top 10 wealthiest cities in 2024 - in pictures

These factors can make it difficult for employers to attract and retain top talent and can increase compensation and benefits expenses, limit talent mobility and raise operational costs, the report said.

“Cost-of-living challenges have had a significant impact on multinational organisations and their employees," said Yvonne Traber, Mercer’s global mobility leader.

“It’s important for organisations to stay informed about cost-of-living trends and inflation rates, and seek input from employees on these issues to effectively manage their effects.

“High living costs may cause assignees to adjust their lifestyle, cut back on discretionary spending or even struggle to meet their basic needs.”

Ms Traber said some employers may wish to offer compensation packages that include housing allowances or subsidies, or provide support services.

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Total fights: 32
Wins: 28
Wins by KO: 26
Losses: 4

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Uefa Champions League, quarter-final, second leg

Where: Etihad Stadium
When: Tuesday, 10.45pm
Live on beIN Sports HD

Jetour T1 specs

Engine: 2-litre turbocharged

Power: 254hp

Torque: 390Nm

Price: From Dh126,000

Available: Now

The President's Cake

Director: Hasan Hadi

Starring: Baneen Ahmad Nayyef, Waheed Thabet Khreibat, Sajad Mohamad Qasem 

Rating: 4/5

UAE tour of Zimbabwe

All matches in Bulawayo
Friday, Sept 26 – UAE won by 36 runs
Sunday, Sept 28 – Second ODI
Tuesday, Sept 30 – Third ODI
Thursday, Oct 2 – Fourth ODI
Sunday, Oct 5 – First T20I
Monday, Oct 6 – Second T20I

The specs

Engine: Two permanent-magnet synchronous AC motors

Transmission: two-speed

Power: 671hp

Torque: 849Nm

Range: 456km

Price: from Dh437,900 

On sale: now

Company%20profile
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Transmission: Eight-speed automatic

Fuel consumption, combined: 7.7L / 100km

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Indoor cricket in a nutshell
Indoor Cricket World Cup - Sept 16-20, Insportz, Dubai

16 Indoor cricket matches are 16 overs per side
8 There are eight players per team
9 There have been nine Indoor Cricket World Cups for men. Australia have won every one.
5 Five runs are deducted from the score when a wickets falls
4 Batsmen bat in pairs, facing four overs per partnership

Scoring In indoor cricket, runs are scored by way of both physical and bonus runs. Physical runs are scored by both batsmen completing a run from one crease to the other. Bonus runs are scored when the ball hits a net in different zones, but only when at least one physical run is score.

Zones

A Front net, behind the striker and wicketkeeper: 0 runs
B Side nets, between the striker and halfway down the pitch: 1 run
C Side nets between halfway and the bowlers end: 2 runs
D Back net: 4 runs on the bounce, 6 runs on the full

FIXTURES

Monday, January 28
Iran v Japan, Hazza bin Zayed Stadium (6pm)

Tuesday, January 29
UAEv Qatar, Mohamed Bin Zayed Stadium (6pm)

Friday, February 1
Final, Zayed Sports City Stadium (6pm)

Updated: June 16, 2024, 11:01 PM