According to Shanghai Morning Post, a survey carried out by the ECA International, the world’s largest human resources consulting firm showed that Tokyo is still the city with the highest cost of living for foreigners in Asia. While Beijing, by beating Hong Kong for the first time, became the city that is most expensive for foreigners in China.
According to the ECA report, Beijing ranks to 31st this year, while Shanghai is the 35th. Hong Kong climbs to 33rd from its previous position of 88th.
The appreciation of RMB and inflation helped raise the cost of living in Chinese cities, Beijing in particular. The survey shows that cost of living for a foreigner in Beijing is 15% higher than that of Singapore, which ranks 95th this year.
Luanda, the capital of the oil-rich African country of Angola, ranks number one this year. Tokyo follows Luanda closely in second place. Russia’s capital replaces the Norwegian capital Oslo to be the European city with the highest cost of living for foreigners.
By People's Daily Online
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