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2023 Top 20 Most Expensive Cities in the World

21st June 2023 | Hong Kong

The top 20 most expensive cities in the world in 2023 has been released, with the top 10 most expensive cities in New York, Hong Kong, Geneva, London, Singapore, Zurich, San Francisco, Tel Aviv, Seoul, and Tokyo.   4 of the top 10 most expensive cities are in Asia – Hong Kong, Singapore, Seoul & Tokyo.  2 of the most expensive cities are in United States – New York & San Francisco, 3 of the most expensive cities are in Europe, Geneva, London & Zurich.  See below for the top 20 most expensive cities in the world for expatriates in 2023.

” Top 10 Most Expensive Cities in 2023 – New York, Hong Kong, Geneva, London, Singapore, Zurich, San Francisco, Tel Aviv, Seoul, Tokyo “

 



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2023 Top 10 Most Expensive Cities in the World

  1. New York
  2. Hong Kong
  3. Geneva
  4. London
  5. Singapore
  6. Zurich
  7. San Francisco
  8. Tel Aviv
  9. Seoul
  10. Tokyo

 

2023 Top 20 Most Expensive Cities

This is the top 20 most expensive cities in the world for expatriates in 2023.

City 2023 Rank Country
1 New York 1 United States
2 Hong Kong 2 China
3 Geneva 3 Switzerland
4 London 4 United Kingdom
5 Singapore 5 Singapore
6 Zurich 6 Switzerland
7 San Francisco 7 United States
8 Tel Aviv 8 UAE
9 Seoul 9 Korea
10 Tokyo 10 Japan
11 Bern 11 Switzerland
12 Dubai 12 UAE
13 Shanghai 13 China
14 Guangzhou 14 China
15 Los Angeles 15 United States
16 Shenzhen 16 China
17 Beijing 17 China
18 Copenhagen 18 Denmark
19 Abu Dhabi 19 UAE
20 Chicago 20 United States

 

Source: ECA International

 

Related:

 

About ECA’s Cost of Living Ranking

ECA International’s cost of living rankings combine ECA’s Cost of Living research and Accommodation research to enable a comparison of costs faced by expatriates around the world in 207 cities in 120 countries and territories.

This comparison of cost of living is calculated on a base composed of various developed countries and is used to reflect an international lifestyle. Other indices available from ECA reflect specific city-to-city comparisons and different levels of shopping efficiency.

ECA’s Cost of Living research

ECA International’s cost of living research is carried out in March and September using a basket of day-to-day goods and services commonly purchased by assignees. The data used above refers to the March 2023 data collection period with changes compared to the March 2022 period. ECA’s Cost of Living rankings began in 2005.

Cost of living indices are used by ECA clients to calculate cost of living allowances for assignees. The research covers:

• Food: Groceries; dairy produce; meat and fish; fresh fruit and vegetables
• Basic: Household goods; recreational goods; general services; leisure services
• General: Clothing; electrical goods; motoring; meals out; alcohol and tobacco
• Utilities costs
• Public transport

ECA’s Accommodation research

This ranking uses data from ECA’s 2023 Accommodation reports. The reports have been published annually since 1996.  The reports provide comprehensive and reliable information for locations worldwide on the rental trends, types of accommodation and districts commonly sought by expatriates. To ensure impartiality and to maintain the accuracy of information, data from a number of sources is used to compile each accommodation report. ECA uses a global network of estate agents, relocation agents and extensive in-house research into worldwide property markets to establish and verify the housing data in the reports.

About ECA International

ECA International is the market-leading provider of knowledge, information and technology that enables businesses to manage their international reward programmes.  Partnering with thousands of clients on every continent, we provide a fully-integrated suite of quality data, specialist software, consultancy and training. Our unparalleled insights guide clients as they mobilise their most valuable resource: people.  We make the complex world of international mobility simple, providing clients with the expertise and support they need to make the right decisions – every time.




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