Shenzhen ranks 30th place in global living cost survey
Shenzhen, China- The latest Worldwide Cost of Living Survey issued by Mercer, is a global leader in human resource consulting and related services shows, Tokyo is the world’s most expensive city for expatriates, whereas Hong Kong remains its ninth place. Shanghai and Beijing are ranked the sixteenth and seventeenth places, up five and three places respectively since 2011. Shenzhen is ranked the thirtieth place. The recent world events, including economic and political upheavals have affected the ranking for many regions through price rise, currency fluctuation, inflation, and high housing prices.
According to the Survey, Tokyo is the most expensive city for global expatriates, pushing Luanda, Angola down to the second place. Karachi is ranked as the world’s least expensive city for expatriates, less than one third as expensive as Tokyo.
Mercer’s survey covers 214 cities and calculates the comparative prices of over 200 items of the cost of living, including transport, food, clothing, household goods and entertainments, according to the local living requirements of expatriates. Housing prices is often the biggest expense, which usually determines the city ranking.
In the global ranking, China’s Hong Kong remains its 9th place, Shanghai and Beijing rank the 16th and 17th place, Shenzhen is up to the 30th place, and Guangzhou and Israel share the 21th place.
Head of Mercer Information Consulting Service in China Zhang Shidong pointed that the rising prices of commodities and the currency fluctuation are the main reason that promote the rising rank of the cities in mainland, China.
Shenzhen Post Elaine Contributes to the Story.
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