Tokyo has knocked Moscow off the top spot to become the world’s most expen
sive city for expatriates, according to the latest Cost of Living Survey from Mercer.
Due to the strengthening Japanese yen, Osaka also climbed nine places
to take the second place, followed by Moscow, Geneva and Hong Kong.
Cities in Australia and New Zealand have taken a significant plunge in the
rankings, following the depreciation of the Australian and New Zealand dol
lars against the US dollar. Sydney remains the most expensive city for expa
triates, it has dropped from 15th to 66th place. Melbourne follows in 92nd po
sition, down from 36th. Auckland has moved down to 138th place from 78th
and Wellington follows in 139th down from 93rd.
London has dropped 13 places to 16 and Dublin dropped nine places to
the 25th most expensive city in the world.
The analysis, which is conducted by Mercer to help multinational compa
nies estimate pay rates for international employees, uses New York City as a
benchmark for comparing the prices of more than 200 items, including
housing, food, transport and entertainment.