New York Is Now The Most Expensive City To Live In The World For Expats

New York has always been a work hub and a dream city to be working at for people around the world. However, it can be incredibly difficult to be living in the Big Apple if you are looking at it from a financial perspective. Recently, New York has taken over Hong Kong as the most expensive city to be living in around the world as an Expat.

If you are keen on finding out why this has happened, reports claim that the living costs have severely gone up owing to the ongoing inflation in the United States Of America.

The ECA International’s Cost of Living in their 2023 study took into account the kind of rental amounts that go around, especially in areas that are mainly dominated by Expats along with what the costs of consumer goods and services are not just in those areas but overall as well.

According to a lot of pre-existing research work, it has been seen that even a small room in New York can cost a large amount of money making it difficult for people to choose to live in the city. A lot of people very often opt to live in areas that are outside of the city area and prefer to commute daily to their workplaces.

Earlier Hong Kong used to be at the top of the chart as the most expensive city to live in and New York was in the second position but now the positions have reversed for both places. The list features Geneva in the third position followed by London and then Singapore. Chicago is comparatively the cheapest out of all the twenty places that are featured on this list.