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Who holds the title for the world's most expensive city to live in among major cities?

Mame Lernihan

Hey! The title for the world's most expensive city to live in among major cities is currently held by Hong Kong. According to a survey conducted by Mercer, a global consulting firm, Hong Kong tops the list for the third year in a row. The survey takes into account factors such as the cost of housing, transportation, food, clothing, and entertainment.

The high cost of living in Hong Kong can be attributed to several factors. Firstly, the city has limited land for development, which has resulted in high demand and therefore high prices for housing. The average rent for a one-bedroom apartment in the city center is around HKD 15,000 (USD 1,900). Additionally, Hong Kong is home to many international corporations, which drives up the prices of goods and services.

Moreover, the cost of transportation in Hong Kong is also quite high. Taxis and public transport are relatively more expensive than in other cities around the world. A one-way ticket on the Mass Transit Railway, which is the most popular form of public transportation in Hong Kong, costs around HKD 10 (USD 1.30).

Food prices in Hong Kong are also high, especially for imported goods. This is because the city relies heavily on importing food from other countries due to its limited agricultural land. As a result, the prices of fruits, vegetables, and meats can be quite steep. Dining out is also relatively expensive, with a meal at a mid-range restaurant costing around HKD 120 (USD 15).

In addition to the high cost of daily necessities, entertainment and leisure activities in Hong Kong are also expensive. Going to the movies, attending concerts, and visiting theme parks can cost a significant amount of money.

While the cost of living in Hong Kong is undeniably high, the city also offers many advantages. Hong Kong is known for its vibrant culture, excellent food, and business opportunities. It is also considered one of the safest cities in the world, and its healthcare system is well-regarded.

Overall, while living in Hong Kong may be expensive, many residents feel that the benefits of living in such a fascinating and dynamic city outweigh the costs.