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London remains the 6th most expensive location in the world according to the latest Cost of Living report from ECA International.
Singapore rises two places from last year to become 12th most expensive location globally for overseas workers, and remains in top ten Asia rankings.
Hong Kong tops the rankings as the most expensive location for overseas workers.
UK employees are expected to receive a real-terms salary increase of 0.4 percent after inflation in 2022, approximately £127 per annum before tax.
Salaries for workers in Hong Kong are forecast to increase by 3.2% on average next year, 0.7% higher than in 2021.
Employees based in Singapore are expected to see a salary increase of 3.5% next year, up from 2.8% this year.
Driven by lower cost of benefits and a dip in salaries, the overall cost of employing a mid-level expatriate worker in Singapore has dropped by USD 7 284.
The overall cost of employing a mid-level expatriate worker in Hong Kong dropped by USD 5 067 in 2020.
ECA International announces a significant financial investment in Tracker Software Technologies (TST).
Strength of euro and GBP causes many European locations to jump in ECA International’s Cost of Living ranking.