Page 39 - Turkinsurance Digital Magazine

39

cations for employee health and safety, remote working and flexi- Port of Spain, 91st, is the most expensive city in South America in
bility policies, among other issues. Companies are rethinking their the ranking, followed by Port-au-Prince, 92nd, and Pointe-à-Pitre,
talent and mobile workforce strategies. In addition, accurate and 107th. The cheapest city in South America is Brasilia, which ranked
transparent data is essential to give employees a fair reward for any 205th.
assignment.”
Only three Europeans are in the top 10
Ashgabat is the most expensive city; Istanbul continues to be an According to the 2021 results of the Cost of Living Survey, only
attractive city three European cities ranked in the top 10 most expensive cities.
Ranked 5th in the global ranking, Zurich continued to be the most
According to research results, which measured the comparative expensive city in Europe. Zurich is followed by Geneva in 8th place
costs of more than 200 items, including housing, transportation, and Bern in 10th place. The strengthening of the local currency
food, clothing, household goods, and entertainment in each city, has allowed many European cities to climb to the top. Paris is
Ashgabat is the most expensive city in 2021, while Bishkek is the ranked 33rd, while London, which rose one place, is ranked 18th
cheapest city with the cost of living. Hong Kong, the world's most and Birmingham, which rose eight places, is ranked 121st. Tbilisi,
expensive city for many years, fell to second place, while Beirut, ranked 207th, is the cheapest city in Europe.
which rose by 42 digits as a result of the explosion at the Beirut
port in 2020 and the large-scale economic depression that came to Beirut is the most expensive in the Middle East; no African city
the median for reasons such as COVID-19, is ranked as the third in the top 10 most expensive
most expensive city. Tokyo is 4th, Zurich ranks 5th place, while In the Middle East, commonly known as an expat (overseas assign-
Shanghai is 6th, a step up from last year. According to the research, ment), the United Arab Emirates continued to diversify its econo-
Singapore is 7th, Geneva is 8th, Beijing is 9th and Bern is 10th. The my, which in turn reduced the impact of the oil industry on GDP.
world's cheapest city for international workers is Bishkek, ranked Along with this ongoing process, there is a negative price move-
209th. Tbilisi ranked 207th, and Lusaka, ranked 208th, are the ment in Dubai 42nd and Abu Dhabi 56th. Beirut jumped 42 places
other cheap cities. Istanbul, which ranked 156th in the same study in the global rankings to third place, becoming the Middle East's
last year, fell 17 places this year and ranked 173rd place due to the most expensive city for international employees. N'djamena, 13th,
effect of the exchange rate change. Lagos, 19th, and Libreville, 20th, are the most expensive cities in
Africa for international workers, while Lusaka, 208th, is regarded
New York, America's most expensive city as the cheapest city in Africa and the second cheapest in the world.
It has been observed that cities in the US have declined in this year's
ranking, especially due to currency fluctuations between March 6 of the world's 10 most expensive cities are from Asia
2020 and March 2021, despite rising prices for goods and ser- According to the 2021 results of the Mercer Cost of Living Sur-
vices in the country. New York is the most expensive city in the vey, 6 of the top 10 cities are cities of the Asian continent. Ashga-
US, ranking 14th, despite falling eight places from last year. New bat has moved up one place in this year's rankings, making it the
York is followed by Los Angeles on the 20th, San Francisco on most expensive city for international workers in both Asia and the
the 25th, Honolulu on the 43rd, and Chicago on the 45th. Ranked world. It is followed by 2nd Hong Kong, 4th Tokyo, 6th Shanghai,
151st, Winston Salem remained the cheapest city among US cities 7th Singapore, and 9th Beijing. Mumbai, ranked 78th, is India's
for international workers. San Juan, which has levels by 23 digits most expensive city but has fallen 18 places this year due to the
due to deflation occurring in the second half of 2020 and the very Indian rupee, which is relatively weak compared to other cities in
low inflation rate affecting its position in the rankings at the be- the ranking.
ginning of 2021, is ranked 89th. The appreciation of the Canadian Australian cities have risen to the top of this year's rankings, with
dollar against the US dollar has led to jumps in this year's rankings. the local currency gaining significantly against the US dollar. Syd-
Vancouver, ranked 93rd, is the most expensive Canadian city in the ney, which rose 35 places to 31st in the rankings for international
rankings, followed by Toronto, 98th, and Montreal, 129th. Ottawa, workers, is Australia's most expensive city, while Melbourne, which
ranked 156th, is ranked as Canada's cheapest city. rose 40 places, ranks 59th.