Most expensive city for foreigners named

Hong Kong topped the list of the most expensive cities globally for foreign experts-expats, said an annual statement submitted by the consulting agency ECA International.

Report informs, citing TASS, that the main reason for this is the high housing cost in this megalopolis.

"Top 10" also includes Tokyo, New York, Geneva, Zurich, London, Tel Aviv, Seoul, San Francisco, and Yokohama.

Besides, among the twenty most expensive cities are four megacities from mainland China - Shanghai (11th place), Guangzhou (15), Shenzhen (17), and Beijing (18).

Considering exchange rate fluctuations, ECA International compares the costs of a consumer basket of goods and services (including utilities) that an ordinary foreigner can obtain.