Tokyo regained its top spot among the world's most expensive cities for expatriates for the first time since 2012 as the yen rose. London fell out of the top 100 after Brexit crushed the pound.
The capital jumped up from 12th last year, while Yokohama and Osaka joined the top 10, ECA International said Wednesday in a report comparing the global cost of living for expatriates. Those cities all leapfrogged Hong Kong, which edged down to 11th from ninth. Zurich fell from the top spot to third while Geneva fell to fourth from second.
"The relative strength of the Japanese yen in the survey period pushed all Japanese cities above Hong Kong in the rankings," said Lee Quane, ECA's regional director for Asia. "For companies bringing talent into Japan, the cost of an assignment will increase as higher allowances are required to maintain employees' purchasing power."