Hong Kong is world’s fifth most expensive city: survey

Hong Kong dropped to fifth place in the ranking of the world’s most expensive cities to live in this year, according to a survey conducted by the Economist Intelligence Unit. The Worldwide Cost of Living 2023 report ranked Singapore and Zurich as the world’s most expensive cities to live, while Geneva tied with New York for the third place. Tokyo and Beijing fell in the rankings by 23 and 26 positions respectively, placing them jointly at 60th. The survey, conducted from August 14 to September 11 this year, compared the prices of over 200 products and services across 173 cities. The index was decided by referencing the prices of individually weighted items, including groceries, household supplies, personal care, alcohol, tobacco, clothing, domestic help, recreation, transport and utilities.