Chart of the Day: Hong Kong Is the World’s Most Expensive City
Hong Kong is the most expensive city in the world to live in, according to a consultancy’s annual cost-of-living ranking.
In the 2019 ranking, the special administrative region climbed three spots from last year, tying with Singapore and Paris as the most expensive city in the world, according to The Economist Intelligence Unit, which conducted the survey.
Ten cities in China made the list, which ranked 133 cities around the world. Shanghai and Shenzhen tied for 25th, and Dalian in Northeast China’s Liaoning province came in 45th. Beijing, which ranked 49th, has been China’s fourth most expensive city for three straight years.
The survey compared more than 400 individual prices across 160 products and services, including food, drink, clothing, household supplies and personal care items, home rents, transportation, utility bills, private schools, domestic help and recreational costs, according to The Economist Intelligence Unit.
The ranking did not consider the cost of buying a home, which makes up a huge share of Chinese people’s cost of living. That may explain why Beijing ranked relatively low.
Currency fluctuations can also affect the ranking. The rankings of several Chinese cities fell from last year in part because the U.S. dollar strengthened significantly against the yuan.
Contact reporter Gao Baiyu (firstname.lastname@example.org)
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