Inflation is here, and it seems like everything has gone up in price. Gas prices, airfare, and food costs are all factors when choosing travel destinations. This has us wondering, which cities are the most expensive in the world?

Global mobility company ECA International recently released its annual list of the most expensive cities in the world for expats to live in.

When creating the list, ECA International calculated the average price of milk and cooking oil, public transportation, rent, utilities, and the local currency’s strength. 

For the third year in a row, Hong Kong has come in first place. 

Related: How To Do The Perfect Layover In Hong Kong

Hongkong skyline view from Victoria Peak

Asia had the most cities on the list

With five cities on the list, Asia is the most expensive continent in the world. It’s also home to the fastest-rising city on the list — Colombo, Sri Lanka. 

Some cities ranked lower than before

Paris would usually top the list, but this year, it’s not even in the top 30. 

“Nearly every major Eurozone city saw a drop in the rankings this year as the euro performed worse in the last 12 months than the US dollar and British pound,” says Lee Quane, ECA’s regional director for Asia. 

Politics, COVID-19, and international conflicts have all affected Europe’s economy.

Here are the 10 most expensive cities in the world for expats

Candace Abroad
  1. Hong Kong
  2. New York
  3. Geneva
  4. London
  5. Tokyo 
  6. Tel Aviv
  7. Zurich
  8. Shanghai
  9. Guangzhou
  10. Seoul 

For the full list, click here.

Related: Expat vs. Immigrant: What’s The Difference?