Which cities are at the top as the most expensive for expatriate workers – Where is Athens?

The cities of Europe and East Asia rose in 2021 in the ranking of the most expensive for employees moving to other countries, mainly due to the decline in the dollar exchange rate, indicates the annual survey of the consulting firm Mercer.

The capital of Turkmenistan, Ashgabat, where few expatriate workers live, moved up to second place in 2020, for the first time due to “high inflation” in the country, explained to the French Agency Jean-Philippe Sarah, responsible for international mobility to Merser’s French subsidiary.

Hong Kong, where housing is still very expensive, jumped from 1st to 2nd place, while Beirut, 45th last year, jumped to third place due to inflation caused by the financial crisis, the new coronavirus pandemic and explosions. that destroyed the port and neighborhoods of the Lebanese capital on August 4, 2020, Mr. Sara listed.

The ten most expensive cities for expatriate workers are also Tokyo (4th), Shanghai (6th), Singapore (7th), and Beijing (9th), as well as, in Europe, three Swiss cities: Zurich (5th) , Geneva (8th) and Bern (10th).

London ranks 18th, while Paris recorded a dizzying rise, from 50th to 33rd, due to the strengthening of the euro against the dollar.

What is the position of Athens?

THE Athena climbed to 115th place (from 138th, +23). In the US, New York, the most expensive American city, dropped from 6th to 14th in the world, followed by Los Angeles (20th) and San Francisco, which dropped from 16th to 25th.

Indian cities fell in the rankings, with Mumbai falling from 60th to 78th due to the weakening of the rupee against the dollar.

In her research, Mercer finds a reduction in immigration for business purposes, both for practical and economic reasons associated with the new coronavirus pandemic.

In the long run, it sees a “reduction in the duration of traditional expatriations” of workers “for a period of three to five years” in the family, according to Mr Saras.

Relocations take place in parallel with more temporary forms of relocation, more frequent commuting between countries of residence and work, with flights of up to six hours and shorter missions of up to 18 months, for which “the employee leaves alone “and” returns two or three times a year “, always according to the Mercer France executive.

However, these new forms of mobility raise new regulatory difficulties for several multinational companies, for example in terms of visas, taxation and social security, according to the consulting firm.