Tokyo remains the most expensive city in the world for expatriates to live, but people based in Tel Aviv can breathe a sigh of relief that their temporary hometown has slipped 13 places to become just the 45th costliest place, according to a report by ECA International.
ECA, which advises companies and governments stationing employees around the world and calculates its cost-of-living estimates in dollars, said Tokyo retained its No. 1 ranking with movie tickets that cost $22.93 and canned soft drinks priced at $1.85. Four of the six most expensive cities are in Japan, according to ECA.
Hong Kong jumped to 26th place from 32nd this year, Manhattan was at No. 36 and Paris at 42. A movie ticket costs $13.69 in Manhattan and a can of soft drink $1.66, by ECA's reckoning.
European cities mostly dropped in the rankings due to the weakness of the euro and other European currencies versus the dollar. Athens dropped 47 places to No. 109 and Madrid 44 places to 105 in ECA's rankings.
Despite Tel Aviv's drop down the rankings, it remains the most expensive city for expats in the Middle East. Dubai, the high-flying business center in the Gulf, ranked just 173, and the Saudi port city of Jedda is 224th, making it the region's cheapest place for expatriates to live.