Tokyo has ranked as the fourth most expensive city for expatriates in an annual cost of living survey by a U.S. consulting firm, dropping one spot from last year.

Turkmenistan’s capital, Ashgabat, topped the list, up from second, while Hong Kong slid to second after being last year’s costliest city, Mercer’s Cost of Living Survey showed, as countries continue to struggle with the economic, political and health implications of the coronavirus pandemic.

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