These are the most expensive, and cheapest, cities to live in if you're an expat
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- A new study by Mercer ranked 226 cities in the world based on how expensive they are to live in.
- Four of the most expensive cities are in just one country.
- One Canadian city ranked highest for finding the balance between cost and quality of living.
Some expats seek a better quality of life in a cheaper city; others follow a dream job posting to an expensive metropolitan hub.
But whatever the reason, finding the sweet spot between the cost and quality of living in a new city is a major consideration in deciding to move abroad for work.
New research by consulting firm Mercer has revealed the ten most expensive cities for international employees to live in in 2024.
The study ranked 226 major cities around the world, analyzing factors like the cost of a basket of goods, rental prices, and other living expenses.
Hong Kong, Singapore, and Zurich are the three most expensive cities for international workers due to their competitive housing markets, high transport costs, and high costs of goods and services.
Following Zurich in the rankings are Geneva, Basel, and Bern, making Switzerland the next most expensive place you can move to. The central European country is known as a haven for the super-wealthy. And while it offers employees very high wages, a coffee can set you back $9.
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In the US, Mercer named New York, Los Angeles, Honolulu, and San Francisco as the most expensive cities to live in.
The high cost of living at home is pushing an increasing number of fed-up Americans to move abroad in search of a better lifestyle.
"The conventional American lifestyle just wasn't in our reach anymore," one couple who moved from Denver to South America previously told Business Insider.
For those looking for the least expensive cities, the top 10, according to Mercer, are:
- Havana, Cuba
- Windhoek, Namibia
- Durban, South Africa
- Dushanbe, Tajikistan
- Blantyre, Malawi
- Bishkek, Kyrgyzstan
- Islamabad, Pakistan
- Lagos, Nigeria
- Abuja, Nigeria
But in addition to prices, Mercer highlighted that quality of life, eco-friendliness, seamless connectivity, and safety and security are also important considerations when choosing where to live.
Montreal may have it all, though. The Canadian city ranked highest for its balance between a low cost of living and a high quality of life.
It was followed by the European cities of Ljubljana, Slovenia; Warsaw, Poland; and Budapest, Hungary.