In the rankings of the most expensive places to live Hong Kong has taken the top spot. Listed in last place at position 209 is the Namibian capital Windhoek.
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In the ranking compiled by the Mercer consulting group Hong Kong, the metropolis in the Far East has replaced Angola's capital Luanda from the top spot, which it had held for the last three years.
That foreign visitors in Hong Kong have to dig deep in their pockets has a lot to do with exchange rate fluctuations. The currency of the Chinese special market, the Hong Kong dollar, is pegged to the US-dollar which has recently gained in value. That in turn makes the city expensive particularly for visitors from Germany or any other the euro zone country.
The pricing levels in most of the cities surveyed have remained stable, according to Mercer in Paris. Some cities have even become considerably cheaper due to exchange rate fluctuations. The value loss of the Russian ruble for instance caused Moscow to drop from 17th to 67th place in the ranking.
As the yen is currently strong Tokyo has climbed from eleventh to fifth place, and is now just below Singapore on fourth place and Zurich on third. The former top spot holder Luanda has slipped on to second place. The strong US-dollar has ensured that several cities in the United States have climbed up this ranking.
Mercer's annual survey looks at the cost of living in over 200 cities around the world. It takes into consideration the cost of goods and services typically used by expats, including accommodation, food, travel and leisure activities.
is/ks/sbc (AFP)
The world's most expensive cities
Hong Kong has snatched the prize for the priciest cost of living for expats from Luanda, the capital of Angola. German cities meanwhile landed in the middle of Mercer's annual rankings.
Image: picture-alliance/dpa/Patrick Lux
The big winner for big spenders
With a name that means "fragrant harbor" and a location on the Pearl River, Hong Kong just sounds like it belongs on top of the list. The densely-packed metropolis serves as one of the most important financial marketplaces in the world. Expatriates often work in the banking industry - and can therefore presumably afford life in the former British colony.
Image: picture alliance/dpa/L. Xiaoyang
Dethroned
Luanda, the capital of Angola, dropped from first to second in the rankings. Behind the high-cost of living is the fact that Angola lives primarily off of exporting its resources - natural gas most of all. Everything else has to be imported, and the costs stack up.
Image: picture-alliance/dpa/M. Kappeler
The Euro champ
Zürich, Switzerland's largest city, ranks also as Europe's most expensive. Like Hong Kong, Zürich is a global financial powerhouse, though its population is much smaller. Its 400,000 residents can surely find consolation in the fact that their city also appears often at the top of quality of life rankings.
Image: Fotolia/bill_17
Pushed up by the Yen
The Japanese capital of Tokyo shot up in the rankings, due to a strengthening in the yen. A stronger currency means that ex-pats have to shell over more dollars, pounds and euros to pay for rent or a plate of sushi compared to the year before. But life in the metropolis of nine-million has never really been cheap.
Image: picture alliance / R. Goldmann
Brought down by the Ruble
While the yen rose, the Russian ruble sank over the past year, bringing Moscow's cost of living for foreigners along with it. The capital city dropped from 17 to 67 in the rankings. The cheap currency gives expatriates a rare chance to stretch their home currency farther in an otherwise expensive city.
Image: picture-alliance/ ZB
Last and least
The Namibian capital Windhoek came in as the 2016 ranking's cheapest city, placing as number 209. In its annual study, Mercer focuses its attention on housing, food, leisure and transportation costs.
Image: Imago/F. Stark
German cities in between
Relatively speaking, German cities are neither too cheap nor too expensive. Munich came in as Germany's priciest city at number 77, with Frankfurt at 88 and Berlin at 100. The northern port-city of Hamburg sprang up 11 spots to 133. "Living costs pushed prices up. The strong demand in big cities resulted in higher prices," said Mercer's Juliane Gruethner.