“””Singapore Ranked 2nd-Most Expensive City for Expats, Following Hong Kong, in 2024 Report”” “

SINGAPORE – In its latest cost-of-living report, consulting firm Mercer ranks Singapore as the world’s second-most expensive city for expats, just behind Hong Kong. This marks a consistent trend for Singapore, which also held second place last year, underscoring its high living expenses despite being ranked Asia’s most liveable city for expats earlier this year.

Hong Kong remains the world’s costliest city for international professionals, while Switzerland’s Zurich, Geneva, and Basel follow Singapore in the top five. Contributing factors for these cities include steep housing prices, high transportation costs, and elevated costs for goods and services. Other prominent cities in the top 20 include New York (7th), London (8th), San Francisco (13th), and Dubai (15th).

Mercer’s study analyzed 226 cities worldwide, comparing the costs of over 200 items, including housing, food, and transportation. Despite high living expenses, Singapore remains a preferred destination for expats, ranking 8th globally in a separate survey on ideal work destinations, outpacing other Asian cities like Tokyo. The appeal of Singapore’s infrastructure, opportunities, and lifestyle continues to outweigh its high costs for many international professionals.