Mercer’s 2020 Cost of Living Survey – a global leader board that no one wants to come top of. Until recently, London ranked just out of the top 20 in the list of the world’s most expensive cities. But today it’s been revealed that we’ve risen four places, placing us at number 19. Top of the table? Hong Kong, followed by Ashgabat in Turkmenistan and Tokyo.
London isn’t the only place to have climbed up the list. New York jumped from ninth to sixth place, Bern moved from twelfth position to eighth and Geneva rose from thirteenth to ninth. In fact, all UK cities rose up the rankings, but nowhere came anywhere even close to London’s position (the next one was Birmingham at 129 on the list). Meanwhile, Australian cities Sydney and Adelaide both dropped down the list.
Mercer says the results were calculated from a survey done in March, looking at the cost of living in each city for expatriates. Mercer believes that the changes to the rankings are largely down to fluctuations in currency values, cost inflation for goods and services, and instability of housing markets.