A recently released classification revealed the most expensive cities in the world for immigrants who leave their countries for new destinations, hoping that they will have better living conditions.
According to the classification issued by the “ECA” company specialized in human resources consulting, the Hong Kong region, which belongs to China, is the most expensive in the world.
The researchers studied the standard of living in 488 locations and regions in the world between March and September of this year.
The study was based on measuring the cost of materials that people usually have to buy, daily, because they are among the necessities.
Hong Kong occupies this advanced rank, due to the exorbitant rental rates in this region, where some simple workers are forced to live in very small houses called “human cages” because one room may be divided among several individuals.
The second most expensive city in front of immigrants is the Japanese capital, Tokyo, then New York City in third place, and after that, Geneva and Zurich, Switzerland, come fourth and fifth.
The study noted that cities whose economy relies heavily on tourism declined in the price index, as a result of the consequences of the Corona epidemic, which paralyzed global travel and stopped entertainment activities.
The British capital, London, came in sixth place, due to the exorbitantly high rents, as prices in this city are higher than both Paris and Geneva.
And in seventh place, the Israeli city of Tel Aviv came, followed by the South Korean capital, Seoul, in the eighth place in terms of the price tag.
The city of San Francisco in California ranked ninth, followed by the Japanese city of Yokohama.
As for the Icelandic capital, Reykjavik, which was very expensive, it ranked 63rd, this year, due to the Corona pandemic, which severely affected the tourist activity on which the island depends.