The 5 most expensive cities in the world for expats

For many, the thought of moving across the globe for work is both exciting and nerve wracking.

Being an expat comes with a bevy of unique challenges, but in recent years one issue has come to the forefront more than others: Globally, the cost of living is rising and many of the world’s most international cities are increasingly expensive.

This is especially true for international workers in east Asia and western Europe, with analysts pointing to high costs for housing, transportation and goods as potential obstacles for foreigners residing in these cities.

“Cost-of-living challenges have had a significant impact on multinational organizations and their employees,” said Yvonne Traber, global mobility leader at consulting firm Mercer, in a statement. “High living costs may cause assignees to adjust their lifestyle, cut back on discretionary spending or even struggle to meet their basic needs.”

Mercer recently analyzed the comparative price of goods, services and housing across 226 cities on six continents to determine where foreign workers need higher pay to match the local cost of living.

Here are the five most most expensive cities for expats.

No. 5: Basel, Switzerland

The riverside city of Basel is one of several Swiss cities that rank among the most expensive municipalities for expats. Basel is the epicenter of the Swiss chemical industry and is home to several major pharmaceutical companies. While the city’s overall ranking remained the same in this year’s survey as it did in 2023, the cost of renting has increased by four percent, according to Mercer’s analysis.

No. 4: Geneva, Switzerland

For the second year in a row, Geneva was the fourth most expensive city in Mercer’s rankings. Switzerland’s second-largest city is home to several major international organizations, including the Red Cross, the World Health Organization and the World Trade Organization. The cost of living in the highly international city is on the rise, with rents increasing by four percent between 2023 and 2024.

No. 3: Zurich, Switzerland

In addition to being the third most expensive city for expats, Zurich is also the most expensive city in Switzerland. The cost of renting in the most populous Swiss city jumped six percent in just one year, according to Mercer’s analysis. Zurich is the heart of the Swiss financial sector and is home to several major banks, including UBS and Credit Suisse.

No. 2: Singapore

The southeast Asian city-state of Singapore was the second-most expensive city for expats for the second year in a row. In the last year, Singapore has seen a slight increase in the cost of basic consumer goods like eggs, olive oil and gasoline. The cost of renting also increased by an average of eight percent, according to Mercer’s analysis.

No. 1: Hong Kong

Hong Kong topped the list of the most expensive cities for expats for the second year in a row. The cost of basic consumer goods jumped dramatically between 2023 and 2024, with the price of eggs rising 13.7%, olive oil rising 25.4%, and gasoline increasing 7.2%. Renting a residence in Hong Kong is also increasingly expensive, with average housing costs going up by eight percent in a year.