Hong Kong leads as the world's most expensive city

Expensive housing, transportation, and goods drove up the city's cost of living.

Hong Kong is the world's most expensive city, driven by high housing, transportation, and goods costs.

In Hong Kong, prices for goods such as eggs, olive oil, and coffee rose by 13.7% YoY, 25.4% YoY, and 0.5% YoY in March.

Prices for necessities such as gasoline and haircuts also increased 7.2% YoY and 4.8% YoY, respectively.

Meanwhile, the cost of clothing, such as blue jeans, remained unchanged. Looking at housing, rents in Hong Kong increased by 8.0% YoY in 2024.

Behind Hong Kong in the rank are Singapore and Zurich. Other most expensive cities in Asia include Shanghai (23), Beijing (25), and Seoul (32).

Conversely, Lagos (225) and Abuja (226) in Nigeria are amongst the world's most affordable cities. Some of the least expensive cities in Asia are Karachi (222), Bishkek (223), and Islamabad (224).