Four of the five most expensive cities in the world in which to live are in Asia, according to a new ranking of the cost of living. Hong Kong topped the 24th annual survey by Mercer, reclaiming the title of world’s dearest city from the oil-rich capital of Angola, Luanda, which ranked highest last year, but fell to sixth for 2018. Tokyo ranked as the second-most expensive city to live in Credit: AFP/KAZUHIRO NOGI The cost of living in UK cities rose significantly, according to the technology solutions firm’s analysis of 209 cities, with London (19th), Birmingham (128th) and Aberdeen (134th) all climbing up the rankings. Mercer’s Kate Fitzpatrick attributed the rise to a strengthening of the pound against the dollar. Two Swiss cities were the only European entries in the most expensive top 10, with Zurich in third and Bern in 10th, though Geneva sat in 11th place. Mercer’s survey, designed to show the cost of living for expatriates, takes into account housing as well as a 200-strong “international basket of goods and services” including transportation, food, clothing and entertainment. The report found that housing market instability and fluctuating inflation and currencies were impacting the cost of doing business in the various cities around the world. Where in the world is cheapest? At the other end of the scale, the Uzbek capital of Tashkent slipped 86 places to prop up the table, with Tunis, Tunisia, Bishkek, Kyrgyzstan and Banjul, The Gambia, just above. Is Tashkent worth a visit? Absolutely, according to Hazel Plush, who visited for Telegraph Travel. “This Central Asian enigma has plenty up its sleeve, including the ancient Silk Road’s most important cities,” she said. Tashkent, the cheapest city in the world to live in Credit: leonid andronov “Tashkent was completely destroyed by an earthquake in 1966, while the country was under Soviet rule. 300,000 people were left homeless, but with matchless Soviet muscle the entire city was rebuilt and restored. “As a result, you’ll find a charming mish-mash of restored 12th-century mosques and classical Russian architecture alongside blocky Brutalist buildings and statues of workers with bulging biceps.” Why Luanda? The Angolan city has topped the survey many times before, but few might be able to point to it on a map. Lunada’s place near the top of the table is secured as a city in a developing economy where accommodation, locally-produced goods and competing services such as taxis and mobile phone providers are in short supply. Security and the cost of importing goods adds to its expense. Luanda is not a looker Credit: AFP A 27-year civil war destroyed much of the city’s basic infrastructure, which meant that a large percentage of food and goods needed to be imported. That said, the city’s oil industry translates to remarkably cheap petrol. What do other surveys say? Mercer’s is not the only cost analysis of the world’s cities. In March the Economist Intelligence Unit released the fifth installment of its annual study of the global cost of living, ranking Singapore the most expensive city on the planet. Hong Kong, Mercer’s number one ranking, took fourth place, falling two spots. The world's 10 most expensive cities Singapore (=) Paris, France (+5) Zurich, Switzerland (+1) Hong Kong (-2) Oslo, Norway (+6) Geneva, Switzerland (+1) Seoul, South Korea (=) Copenhagen, Denmark (+1) Tel Aviv, Israel (+2) Sydney, Australia (+4) The Worldwide Cost of Living Survey found Paris to be the world’s second most expensive city, with Zurich third. Oslo completed the top five in fifth place. The cheapest city this year was found to be Damascus in Syria. The war-torn, tourist no-go zone fell 14 places to claim its title from Almaty in Kazakhstan, which was last year's cheapest metropolis. Contrary to Mercer’s findings, the Economist Intelligence Unit saw London slip six places thanks to a fall in the value of the pound.<doc-sep>Packing up and moving overseas can be an appealing prospect. But it can be an expensive one, too — especially if you have your heart set on Asia. That's according to research from consultancy Mercer, which found that Asian cities lead the way among the priciest destinations for employees living abroad. In its 2018 cost of living survey, the firm found that four of the world's five most expensive cities for expats were in Asia, while just one was in Europe. The annual survey examined the costs of 200 common expenses, including accommodation, transport, clothes, food, entertainment and gas. New York City is used as the base city for all comparisons, and currency movements are measured against the U.S. dollar. U.S. cities did not figure in this year's top ten, however. Aside from Asia, Europe and Africa dominated the list. Switzerland's capital Bern ranked as the tenth most expensive city, followed by Beijing, China (9); N'Djamena, Chad (8); Shanghai, China (7); and Luanda, Angola (6).<doc-sep>The most expensive to city to live in the world as an expat is Hong Kong, according to one of the most comprehensive surveys of its kind. The 24th annual Cost of Living Survey by Mercer, the world’s largest human-resources consultancy firm, ranked 209 cities where companies are most likely to send employees on international corporate assignments. The survey is designed to help multinational companies and governments calculate compensation for expat staff. It looked at the cost of living and rental-price comparisons from a survey conducted in March. Mercer used New York as the base city for all comparison, with currency movements are measured against the US dollar. On the cost of living, Mercer looked at prices of more than 200 items, including housing, transportation, food, clothing, household goods, and entertainment. 2018 Mercer ranking City Country 1 Hong Kong China’s special administrative region (SAR) 2 Tokyo Japan 3 Zurich Switzerland 4 Singapore Singapore 5 Seoul South Korea 6 Luanda Angola 7 Shanghai China 8 N’Djamena Chad 9 Beijing China 10 Bern Switzerland Housing was one of the key things that pushed Hong Kong to the top. Monthly rent for a three-bedroom unfurnished house of international standards in an appropriate neighborhood costs $13,424 on average. In New York, it would cost $5,700, and $6,991 in London. The cheapest city in the world for expats is Tashkent, Uzbekistan. Everything from food and accommodation to renting in an expensive neighborhood remains incredibly cost-effective.<doc-sep>
(CNN) — Just landed that job in your company's Asia office? Now's the time to start renegotiating your salary. Asia's cities are now some of the most expensive destinations for expats, according to a 2018 survey published by international consulting firm Mercer Top of that list is Hong Kong, which reclaimed the title it last held in 2016 by bumping Angolan capital Luanda off the top spot. Not surprising for a city where even a parking space can cost $760,000 Related content Top 10 things for visitors to do in Hong Kong Of the top 10 cities ranked by Mercer, there were seven Asian destinations, with Tokyo at number two, Singapore at four, Seoul at five, Shanghai at seven, Beijing at nine. Zurich came in at three, Luanda at six, N'Djamena in Chad at eight and Bern, Switzerland at 10. Yvonne Traber, Mercer's global mobility product solutions leader, says Asia's strong showing is partly down to economic performance. "Stronger Chinese monetary regulation, a flourishing economy and a push to have the Chinese yuan as an international currency pushed Chinese cities up the ranking," she says. "However significant surges in other locations worldwide caused Japanese cities, Osaka and Nagoya in particular, to fall in this year's ranking." Mercer's ranking of 209 global destinations is based on a "basket" of 200 ticket items that reflect the cost of living for expatriates. Accommodation fees, the price of a cup of coffee and even cinema tickets are tallied up. European surge Singapore: Number four on the list. Angelo Cavalli/Corbis RM Stills/Getty Images The list is offered as a benchmark to help multinational companies calculate compensation packages for employees taking up foreign postings. The 2018 list shows US cities dropping in rank due to a decline in the US dollar against other worldwide currencies. New York City -- the highest placed -- fell four spots to 13, followed by San Francisco at 28 and Los Angeles at 35. European cities were largely climbing the ranks, says Mercer, due to strong local currencies. Paris jumped 28 places to 34, Rome was up 34 places to 46 and Madrid climbed to 64. Related content 10 most popular cities for international travelers Numerous Middle East destinations fell down the ranking due, says Traber, to decreases on rental costs. The highest city in the region was Tel Aviv at number 16. So where's that expat salary going to go the furthest? Mercer's least expensive city was Tashkent in Uzbekistan, followed by Tunis in Tunisia, Bishkek in Kyrgyzstan, Banjul in Gambia and Karachi in Pakistan. 2018 cost of living city ranking 1. Hong Kong (China) 2. Tokyo (Japan) 3. Zurich (Switzerland) 4. Singapore 5. Seoul (South Korea) 6. Luanda (Angola) 7. Shanghai (China) 8. N'Djamena (Chad) 9. Beijing (China) 10. Bern (Switzerland) 11. Geneva (Switzerland) 12. Shenzhen (China) 13. New York City 14. Copenhagen (Denmark) 15. Guangzhou (China) 16. Tel Aviv (Israel) 17. Moscow (Russia) 18. Libreville (Gabon) =19. Brazzaville (Republic of the Congo)