SINGAPORE: Singapore has been ranked the sixth most
expensive city for expatriates, according to the latest cost of
living survey released by global human resource consultancy
Mercer.
Mercer said Singapore's move from eighth to sixth
spot this year is largely due to the slight appreciation of the
Singapore dollar against the US dollar.
Tokyo ranked first in the survey, moving up one
place from 2011, pushing Luanda, Angola down to second
position.
Of the top 10 most expensive cities, five are located in
Asia.
Osaka in Japan climbed three places to third spot in the 2012
ranking. That is followed by Singapore in sixth, Hong Kong in ninth
and Japan's Nagoya in tenth place.
Chinese cities also rose in the ranking, with Shanghai climbing
from 21st to 16th place, and Beijing moving up from 20th to 17th
spot in 2012.
Meanwhile, Australian cities continue to rank high following the
strengthening of the Australian dollar. Mercer said Australia now
has all six surveyed cities in the top 30 and they all moved up the
ranking this year. They include cities like Sydney, Melbourne,
Perth, Canberra, Brisbane and Adelaide.
As Asia-Pacific climbs up the ranking, Mercer said many European
cities have gone the other way, as a result of considerable
weakening of local currencies, including the Euro against the green
back.
For example, London fell seven places to 25th, Paris was down 10
spots to 37th and Milan slid from 25th in 2011 to 38th place this
year. Karachi in Pakistan remained as the least expensive city for
expatriates, unchanged from 2011.
-CNA/ac
