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Shanghai is now the most expensive city in Asia

Shanghai beats Beijing and becomes the most expensive city for expats

06·15·2015

Shanghai is now the most expensive city in Asia

Shanghai beats Beijing and becomes the most expensive city for expats

06·15·2015

According to a newly launched survey, Shanghai is the most expensive city for expats, not only in China, but in the whole Asian region. The survey was conducted by international human resources agency ECA International, and according to their “cost of living report” that was released on June 11, Shanghai’s cost of living is higher than Beijing and Seoul, which were the other two that made up the top three.

Surprisingly for many, Chinese cities were ranked pretty high, with Shanghai number one, Beijing ranked second, Hong Kong and Guangzhou forth and fifth, respectively. The ECA Asia Regional Director Lee Quane said that many people are surprised that it is not cheap in China, “Of course, many products can indeed be bought at a cheaper price. But in order to compare the expatriate staff, the cost of living, we try to investigate the internationally recognized quality brands, to provide more accurate comparisons.” That is probably why Shanghai and Beijing also ranked at number eight and nine in the world’s list, with Hong Kong ranked 12th and Guangzhou 14th.

ECA’s calculations for living costs are based on a basket of daily goods, such as food, household goods, leisure services, clothing, restaurant prices, as well alcohol and tobacco. The calculations are carried out in US dollars, reports Shanghaiist.

Top ten most expensive expats cities in Asia also include Busan, Tokyo, Shenzhen, Singapore and Port Moresby.