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Covid-19 restrictions and political situation contribute to Hong Kong’s fall to the 92nd most liveable location in the world for workers relocating from elsewhere in East Asia.
Singapore maintains its status as the most liveable location for expatriate workers from East Asia since 2005.
Locations in Malaysia – Kuala Lumpur, George Town and Johor Bahru – have risen in the global rankings over the past year.
Bern, Switzerland lands first place position for quality of life, after Copenhagen’s three-year reign at the top
The ringgit's weakness against the US dollar has offset the impact of inflation in Kuala Lumpur, causing it to drop in the global rankings.
Singapore rose four places from last year to become the 8th most expensive location in the world for expatriates, driven primarily by surging accommodation costs.
Hong Kong is the second most expensive location in the world for expatriates
Workers in Hong Kong are expected to receive a salary increase of 4% in 2023, 0.5% higher than 2022.
While workers in Singapore will see a salary increase of 3.8%, inflation will set salaries back by 1.7% in real terms this year.
Record real-terms salary decrease is a result of 9.1 percent annual average inflation, the highest in 40 years.