The most expensive cities in the world for expats in 2018 have revealed

(CNN) – Have you just landed this job in your company's Asia office? It's time to start renegotiating your salary.

According to a 2018 survey released by international consultancy firm Mercer, cities in Asia are now among the most expensive destinations for expats.

At the top of this list is Hong Kong, which won the last title in 2016 by beating the Angolan capital, Luanda, first. Not surprising for a city where even a parking space can cost $ 760,000.

Among the top 10 cities ranked by Mercer, there were seven Asian destinations, with Tokyo at number two, Singapore at four, Seoul at five, Shanghai at seven, Beijing at nine. Zurich arrived at three o'clock, Luanda at six o'clock, N'Djamena in Chad at eight o'clock and Bern, Switzerland at ten o'clock.

Yvonne Traber, Mercer's global leader in mobility product solutions, says that Asia's strong performance is partly related to economic performance.

"Stronger Chinese monetary regulation, a thriving economy and a push for the Chinese yuan to become an international currency have propelled Chinese cities to the forefront," she said. "However, significant increases in other places around the world have brought down Japanese cities, including Osaka and Nagoya, in this year's rankings."

Mercer's ranking of 209 global destinations is based on a "basket" of 200 items that reflect the cost of living for expatriates. The cost of accommodation, the price of a cup of coffee and even movie tickets are counted.

European surge

This list is proposed as a reference to help multinational companies calculate compensation programs for employees in positions abroad.

The 2018 list shows US cities down due to a lower US dollar relative to other world currencies. New York City – the highest placed – fell four places to 13, followed by San Francisco at 28 and Los Angeles at 35.

According to Mercer, European cities have risen significantly, because of strong local currencies. Paris climbed from 28 places to 34 places, Rome climbed 34 places to 46 places and Madrid climbed to 64 places.

According to Traber, many destinations in the Middle East have dropped due to lower rental costs. The highest city in the region was Tel Aviv at number 16.

So where will this expatriate salary go?

The cheapest city of Mercer was Tashkent in Uzbekistan, followed by Tunis in Tunisia, Bishkek in Kyrgyzstan, Banjul in The Gambia and Karachi in Pakistan.

2018 cost of living ranking of cities

1. Hong Kong (China)

2. Tokyo (Japan)

3. Zurich (Switzerland)

4. Singapore

5. Seoul (South Korea)

6. Luanda (Angola)

7. Shanghai (China)

8. N & # 39; Djamena (Chad)

9. Beijing (China)

10. Bern (Switzerland)

11. Geneva (Switzerland)

12. Shenzhen (China)

13. New York

14. Copenhagen (Denmark)

15. Guangzhou (China)

16. Tel Aviv (Israel)

17. Moscow (Russia)

18. Libreville (Gabon)

= 19. Brazzaville (Republic of the Congo)

= 19. London, United Kingdom)