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Beijing, Shanghai and Hong Kong among most expensive cities in Asia
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13:25, June 11, 2009

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Ranking behind four cities - Tokyo, Nagoya, Yokohama and Kobe - Beijing, Shanghai and Hong Kong have become some of the most expensive cities in Asia, according to the latest survey conducted by internationally renowned human resources service provider ECA International.

The survey also revealed that the cost of living for expatriates of multinational companies in Asian cities has significantly increased.

This is due to factors such as the impact of the economic recession on both Europe and the US, and the continued strength of currencies in Asian countries.

The rankings of Beijing, Shanghai and Hong Kong according to cost of living have dramatically soared to 26, 28 and 29 in the world respectively, up from 104, 111 and 98 in the world.

ECA's survey on the cost of living in cities across the world compared a basket of consumer items (a total of 125 items) and services consumed by expatriates working in over 370 locations globally, including daily food products such as grains and oil, dairy products, meat, fish and fresh fruit and vegetables, as well as items that meet the general needs of expatriates such as drinks, tobacco, clothing, electronic products, cars and dining out, according to a report by Hong Kong-based Wen Wei Po.

By People's Daily Online



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