Beijing, Shanghai climb list of world's most expensive cities
Report: Beijing, Shanghai pricier than Paris
It's now more expensive for an expatriate to live in Beijing and Shanghai than in Paris, according to cost-of-living survey by Mercer, a compensation consulting firm. 7 12 Beijing jumped to 20th place in the list of 214 cities, followed by Shanghai at world number 21, according to the survey. New York City and Paris City placed a relatively distant 32nd and 27th separately. 20 21 27 32 The survey calculates the cost of living for skilled expats in 214 cities world-wide, taking into account more than 200 items, including housing, transport, food, clothing, household goods and entertainment. 214 Luanda, Angola's oil-rich capital city is the priciest city while Karachi, Pakistan is deemed the least expensive city. Tokyo retained its status as the second most expensive city in the world and the most expensive city in Asia for expatriates, while Hong Kong was pushed down one place to ninth "Overall, the cost of living in cities across Europe has remained relatively stable," said Phil Stanley, a principal at Mercer. "In North America, increasing petroleum prices continue to contribute to rising consumer prices, but many of its cities dropped in the rankings as price increases in other regions have been more severe." " " Phil Stanley "
China's business press carried the story above on Wednesday.
