The World’s Most Expensive Cities for Expats

For those who want to leave their native country in search of a better quality of life, today we bring you one of the most expensive cities of the world. However, relocating to work overseas may be costly, according to Mercer’s 2023 Cost of Living Ranking, which assesses 227 locations across five continents by analyzing the cost of products and services in each region. To determine the worth of a city in this ranking, different factors are considered. Hong Kong was named the most expensive city in the world for expats for the second year in a row due to its immense rent cost and high quality of life. But worry not, we have some other cities too you may want to look into for living your dream life.

List of the World’s Top 10 Exclusive Cites for Emigrants

The following are the ten most expensive cities for expats offering the best lifestyle with lucrative salaries and an abundance of life-changing opportunities.

Hong Kong (SAR)

The Hong Kong Special Administrative Region, or Hong Kong SAR, is the official designation for Hong Kong. Hong Kong translates to Fragrant Harbor. It is made up of 1,092 square kilometers of land and includes Hong Kong Island, Kowloon, the New Territories, and other smaller islands. The official languages of Hong Kong are Chinese (Spoken Cantonese) and English. The living cost is relatively high in this city due to the exceptional quality of life here. This city is home to more than 360,000 expats which is a bit high. Thousands of people move here due to the life-changing opportunities this city offers. However, if you are planning to move here you must be ready to spend more and save less. A one-bedroom apartment in Hong Kong may cost between 12,000 and 20,000 HKD (1,500 to 2,500 USD) per month or more.

Singapore

Singapore is a Southeast Asian city-state noted for its vibrant culture, wonderful food, and gorgeous architecture. However, there are many interesting Singapore facts to learn about this great nation. Did you know, for example, that Singapore was not always known as Singapore? It was originally a home for fishermen and notorious pirates. Moreover, it also served as a base for the Sumatran kingdom of Srīvijaya.

Singapore is the ninth safest country in the world, according to the 2022 Global Peace Index, and the second-safest city-state according to the Economist Intelligence Unit (EIU. In 2023, around 3.61 million Singaporeans were citizens, compared to roughly 1.77 million non-residents. Singapore had a total population of around 5.92 million people that year. Without rent, the average cost of living in Singapore is roughly S$1100-1400 per month. For an average family of four, this amount can be around S$4,400 each month.

Zurich, Switzerland

Zurich, located in the center of Europe, serves as an economic hub for Switzerland, strengthening its importance in the economy, culture, and society. The city has multiple local recreation places, creating an exciting setting for both living and work. Zurich thrives on its urban diversity, hosting people from 170 different nations, constituting 32% of the population as foreigners. With Germans (25%), Italians (11%), and Portuguese (6%) leading the representation, the city embraces a rich multicultural tapestry. As Switzerland’s largest city and the capital of the canton of Zürich, it sits in the north-central region, gracing the northwestern edge of Lake Zürich. The municipality, with approximately 400,028 residents, extends its urban agglomeration to 1.315 million and the Zurich metropolitan area to 1.83 million.

  Geneva, Switzerland

Geneva is the capital of the canton of Genève and is located in the far southwest corner of Switzerland, near the border with France. The United Nations Office in Geneva is one of the four major United Nations offices where different agencies of the UN have a joint presence. It is Switzerland’s second-largest city, after Zurich. The French-speaking city is known as the “World’s Smallest Metropolis” and is located on the shores of Lake Geneva, at the base of the Swiss Alps.

This little global city on the beaches of the crescent-shaped lake is a favorite choice for expats relocating to Switzerland. It truly has it all, from international enterprises to a lovely lakeside ancient town. The primary ethnic group, Swiss, accounts for 60,83% of the canton’s population, while non-nationals account for 39.2%. Hundreds of foreigners move to this gorgeous city every year because of its high quality of life and breathtaking views and scenery.

Basel, Switzerland

Basel is widely regarded as Switzerland’s cultural center, and the city is famed for its many museums, notably the Kunstmuseum, which houses the world’s first public collection of art (1661). This city of art has the greatest number of museums in the country, with 40. Basel is the third-most populated city in Switzerland (after Zürich and Geneva), with 177,595 people living inside the city boundaries. Approximately one-third of the city’s population are not Swiss citizens. There are huge expat groups from Germany, Italy, Turkey, Spain, Portugal, France, and Eastern Europe. In all, foreign citizens from over 190 nations have settled in Basel. 

Basel’s official language is (the Swiss variant of Standard) German, while the local Basel German dialect is widely spoken. If you have a family, your monthly cost of living will range between 4000 and 8000 Swiss francs. However, depending on the type of lifestyle you choose, this sum might be rather large.

  New York City, NY, United States

New York, also known as NYC, is the most populous metropolis in the United States, located on one of the world’s greatest natural harbors at the southern point of New York State. The city is divided into five boroughs, each of which is coextensive with a separate county. It is a global media hub that has a major effect on commerce, health care, scientific output, and other areas.  New York is the home to the United Nations headquarters which explains its importance. It is sometimes referred to be the world’s most significant city and the world’s capital.

With a population of 7,888,121 people, New York City is a multicultural city. The city’s foreign-born population is around 36%, one of the largest among US cities. Your cost of living in New York will vary depending on your lifestyle. However, the average cost of living for one person is $4,299. Whereas the average monthly cost for a family of four is roughly $9,639

Bern, Switzerland

Bern is the fifth-most populated city in Switzerland, after Zürich, Geneva, Basel, and Lausanne, with a population of over 133,000 (as of 2022). Bern has 144,000 people, 17% of whom are foreigners. Because of Bern’s attractiveness and status among travelers for its shopping and cultural experiences, the residents are polite and friendly. As an expat, you can easily adjust and find a social group here. Bern’s ancient old town (in German: Altstadt) was declared a UNESCO World Heritage Site in 1983. It is surrounded by the well-known River Aare, a large Swiss Plateau River. Bern (Switzerland) has an 11% lower cost of living than Geneva, with an estimated monthly cost of $1,715.5$ per person. 

Bern’s top-ranking in the world’s most expensive cities for quality of life is because of good air quality, solid infrastructure, enough medical facilities, and minimal crime and health concerns.

Tel Aviv, Israel

Tel Aviv is the most densely populated city in Israel’s Gush Dan metropolitan region. It is the country’s commercial and scientific center, located on the Israeli Mediterranean coast and home to 467,875 residents. Tel Aviv has the third- or fourth-biggest economy in the Middle East, as well as the greatest economy per capita.  Every year, nearly 2.5 million foreign visitors visit Tel Aviv. It is the Middle East’s “party capital,” with a vibrant nightlife and a 24-hour culture.

The Yishuv (Jewish people) created the city in 1909, giving it the Hebrew name Ahuzat Bayit, which was later changed to Tel Aviv the following year. In Mercer’s Cost of Living Survey, Tel Aviv was placed eighth out of 227 expat locations. However, expats can earn substantial wages in Israel, and prices vary mainly by where they choose to reside in the country as well as their lifestyle. The expected monthly cost for one person in this city is $1,148.5$, excluding rent.

Copenhagen, Denmark

Copenhagen is Denmark’s capital and most populous city, with an overall population of about 660,000 in the city itself and 1.4 million in the urban region. The city is located between the islands of Zealand and Amager. Copenhagen, originally a Viking fishing hamlet built in the 10th century around what is now Gammel Strand, became the capital of Denmark in the early 15th century. With the Copenhagen Stock Exchange, it is one of Northern Europe’s major financial centers.

Over 73% of Copenhagen’s population is of Danish descent. There are also 41,000 immigrants and 4,600 descendants from Western countries (8%), and 56,000 immigrants and 27,000 descendants from non-Western countries (15%). Living in Copenhagen is far more expensive than in smaller cities. However, the average salaries people earn are also greater than the other cities of Danmark. The average cost of living for one person here is around 1,247.4$ (8,424.5kr), excluding the cost of rent.

  Nassau, Bahamas

Nassau is The Bahamas’ capital and largest city. It is situated on the island of New Providence, which has an estimated population of 296,522, accounting for 74.26% of the entire population of the nation. It was created in 1670 by British noblemen who brought with them to New Providence British inhabitants. White sand beaches with turquoise water. NASA Astronaut Scott Kelly reportedly described the Bahamas as “the most beautiful place on the planet from space.”  The Bahamas is the richest country in the West Indies and ranks 14th in North America in terms of nominal GDP, with a tourism-based economy. 

If you are thinking about moving yourself and your family to the Bahamas, please keep in mind that the most popular destinations for expats are New Providence, Abaco, and Grand Bahamas. The typical rent for a one-bedroom apartment in Nassau is from $900 to $1,500 per month, which is rather pricey in comparison to other areas of the Bahamas. However, the living cost for a single person is around 1,526.0$.