TOKYO IS WORLD’S 4TH MOST EXPENSIVE CITY FOR EXPATS: SURVEY

Tokyo has ranked the fourth most expensive city for expatriates in an annual cost of living survey by a US consulting firm, dropping one spot from last year, Kyodo News reported.

Turkmenistan's capital Ashgabat topped the list, up from second, while Hong Kong slid to second after being last year's costliest city, Mercer's Cost of Living Survey showed, as countries continue to struggle with the economic, political, and health implications from the novel coronavirus.

With more than half of the top 10 most expensive cities in Asia, Zurich dropped one spot to fifth, while Shanghai ranked sixth, up one notch. Singapore fell two places to seventh.

Beirut came in third, up 42 positions due to economic hardship brought on by the COVID-19 pandemic, Lebanon's largest financial crisis, and a massive port explosion in Beirut in 2020.

Mercer said the pandemic continues to cause unparalleled disruption to international mobility, prompting companies to re-evaluate how they will manage a mobile workforce in a post-pandemic world.

"The pandemic has added a whole new layer of complexity, as well as long-term implications related to the health and safety of employees, remote working and flexibility policies, among other considerations," said Ilya Bonic, career president and head of Mercer Strategy.

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