SHANGHAI in China is this year’s most expensive city in Asia for expatriates, according to a study by Human resources consultancy ECA International.
The study covered the cost of living for expatriates in over 60 areas in Asia and other 450 cities in other parts of the globe.
Following Shanghai is Beijing, Seoul, Hong Kong and Guangzhou.
Topping the list of most expensive city in the world is Juba, capital city of South Sudan.
While Luanda in Angola and Zurich in Switzerland came second and third, respectively.
In a report, Lee Quane, ECA International director for Asian regions, said that the two cities in Africa’s poorest regions topped the list taking into accounts on how much money expatriates have to spend on basic items ranging from household goods, recreation services, food, alcohol, tobacco consumption, and dining, among others.
ECA International cited how “high inflation rate and strong US currency” are considered as contributing factors in the study.