ECA International releases report on global living costs, Hong Kong is the most expensive city to live in

The Russia-Ukraine war and the rising global inflation are the main causes of the increase in the living costs as per the ECA International’s report. 

On Wednesday, June 8, the ECA International released its report on living costs for expats. Hong Kong retained its position as the world’s most expensive city to live in as an expat. Ankara in Turkey is the world’s cheapest city as per the report.

“Although Hong Kong has been impacted by rising global inflation less than other regional and global locations in the past year, it nonetheless remains the most expensive location in the world,” said Lee Quane, regional director at ECA International. A total of 207 cities were surveyed for the report.

New York has claimed the 2nd spot as the world’s most expensive city to live in, previously it was in the 4th position. The living expense has increased in several cities across the world. Almost every city has seen a rise in living costs. The Russia-Ukraine war and the rising global inflation are the main causes of the increase in the living costs as per the ECA International’s report.