Top 10 cities with the highest cost of living in the world! – News details

ISTANBUL (IGFA) – Mercer, which provides solutions and advice to companies to manage the health, wealth and career needs of their changing workforce, has announced the results of its cost of living study.

In a study covering 227 cities across five continents, Hong Kong was the most expensive city in the world in 2023, while Islamabad was the cheapest.

This year, Istanbul entered the list at 185th place.

This year, Hong Kong topped the list of the most expensive cities, while Singapore, up 6 positions from last year, moved up to 2nd place.

Zurich, on the other hand, dropped one position to become the third most expensive city on the list, while Islamabad was the world’s cheapest city for foreign workers, ranking 227th.

5 EUROPEAN CITIES AMONG THE MOST EXPENSIVE CITIES

Based on Mercer Cost of Living Survey; In 2023, Zurich, Geneva, Basel, Bern and Copenhagen are among the top 10 most expensive cities in the world for expats.

4 of these cities are located in Switzerland. Among other expensive cities in Europe, London ranked 17th, Vienna 25th, Amsterdam 28th, Prague 33rd and Helsinki 34th, up 27 places from last year. On the other hand, Paris has retained its 35th position this year. Paris was the most expensive city in France, followed by Lyon at 92nd and Toulouse at 121st. Berlin, ranked 37th, was Germany’s most expensive city, followed by Munich (38th) and Frankfurt (48th).

Hamburg ranked 62nd, Stuttgart 69th, Düsseldorf 74th, Leipzig 91st and Nuremberg 96th, the cheapest cities in Germany.

Mercer Turkey CEO Dincer Güley noted that although more than a year has passed since the Russian-Ukrainian crisis and the emergence of variants of COVID-19, many economies are still affected by these events.

“Aggressive monetary policy and tighter financial conditions could lead to slower income growth and higher unemployment in many countries this year,” Güley said. Inflation and exchange rate fluctuations also directly affect the wages and savings of international mobile workers. “The recent COVID-19 pandemic and political tensions around the world have accelerated the widespread use of remote work, prompting multinational employers to rethink how they manage their workforce.”

CITIES WITH THE HIGHEST COST OF LIVING: