London enters the top ten of an index that analyzes the most expensive cities for expatriate employees. The capital comes eighth in Mercer’s 2024 cost of living rankings, up nine places on last year. But let’s see which are the most expensive cities in the world, where living is really very expensive.
London in the top ten. The cost of living and rent prices are determining factors
Mercer’s global benchmark index of most expensive cities in the world includes 226 locations around the world, measuring the comparative cost of more than 200 items in each location, including transportation, clothing, food and entertainment. Hong Kong maintains its lead in the ranking this year, second place for Singapore.
Positioned just below New Yorkin seventh place (which is instead first among the richest cities in the world), London enters the top ten thanks to factors such as the cost of living and rental prices, according to the authors of the ranking. Switzerland dominates the top positions, with the cities of ZurichGeneva and Basel in the top five.
Paris ranks 29th, while Dublin ranks 41st. Further down Edinburgh (53rd place), Glasgow (68th place) and Birmingham (78th place). Followed by Aberdeen in 82nd and Belfast in 87th place.
The most expensive Italian cities
And in Italy? What are the most expensive cities in Italy? Milan ranks 57th, losing eight positions compared to the 2023 survey, while Rome drops from 59th place last year to 67th place.
From New York to Dubai
The US cities are all ranked among the top one hundred, with seven even in the top 20, confirming that the cost of living in United States remains a relevant issue.
Canadian economy proves resilient, exceeding expectations: Toronto it is the most expensive (92nd place), while Vancouver comes in 101st place. The cities of Mexico rise in the ranking, which has seen the cost of living in urban centers increase due to the strengthening of the Peso: Mexico City it rises from 79th to 33rd place compared to 2023, while the city of Monterrey reaches up to 115th place, gaining forty positions compared to the previous year.
In South America, many cities have changed their rankings for 2023 due to fluctuations in exchange rates and rental housing costs. In the Mercer ranking, Montevideo comes in 42nd place, followed by Santiago in 160th place and Bogota in 174th place, with a gain of forty positions.
Dubai, in the United Arab Emirates, ranks 15th in the ranking, making it the most expensive city in the Middle East. Mumbai, the city with the highest cost of living in India, ranks 136th. If you move to the Pacific, Sydney it is the most expensive in the region (58th place): the Australian city surpasses Noumea, in New Caledonia, which gains ten positions to 60th place in the ranking.
As for African cities, Lagos, dropped 178 places to 225th place, recording the most significant change from 2023 due to currency fluctuations, including repeated devaluations of the Nigerian Naira. Among the cities ranked highest are Bangui, in the Central African Republic (14th place), Djibouti, the capital of the country of the same name (18th place) and N’Djamena, in Chad (21st place). Abujain Nigeria, at number 226 in the ranking, is by far the least expensive.
