Hong Kong might be one of the most happening cities in the world, but it sure comes with a (hefty) price. Forging its position among the priciest places yet again, Hong Kong has been named the third most expensive city in Asia and 23rd globally.
HK follows Singapore and Tel Aviv-Yafo in the rankings released by the world’s largest cost-of-living database, Numbeo. The rankings are very comprehensive, taking into account the money spent on everyday expenses like groceries, restaurants, transportation, and utilities while excluding housing costs like mortgages or rent.
Hong Kong ranks as the third most expensive city to live in Asia
Hong Kong, which has climbed five places from last year, trails behind Singapore and Tel Aviv-Yafo, Israel, which are ranked 11th and 14th globally. Rounding up the top 10 cities in Asia are Tokyo, Seoul, and Shanghai. Overall, Switzerland and the United States take the majority share in the top 10 with their cities, with Zurich sitting at the top spot.
Shedding light on the expensive state of affairs in the region, Al Jazeera released a report revealing how many residents are heading to Shenzhen for affordable dining, daily essentials, shopping and entertainment options at a fraction of the price. Citing government data, the report added that Hong Kong residents made 53 million trips over the border to Shenzhen in 2023, a full year after the COVID restrictions were lifted.
Cost of living index: Check out the world’s top 20 most expensive cities to live in
- Zurich, Switzerland
- Geneva, Switzerland
- Lausanne, Switzerland
- New York, United States
- Basel, Switzerland
- Bern, Switzerland
- San Francisco, United States
- Honolulu, United States
- Reykjavik, Iceland
- Boston, United States
- Singapore, Singapore
- Seattle, United States
- Washington DC, United States
- Tel Aviv-Yafo, Israel
- Trondheim, Norway
- London, United Kingdom
- San Diego, United States
- Los Angeles, United States
- Oslo, Norway
- Sacramento, United States
So, Hongkongers, how are you managing your expenses?
(Hero image credit: Jimmy Chan/ Pexels, featured image credit: NIC LAW/ Pexels)
Note:
The information in this article is accurate as of the date of publication.
