Tokyo has tumbled to ninth on the list of most expensive cities for people working abroad from third in 2021, partly due to the weakening of the yen against the U.S. dollar and other major currencies, according to an annual cost of living survey by a U.S. consulting firm.
The Mercer's Cost of Living Survey comes as the effects of the coronavirus pandemic, the consequences of Russia's invasion of Ukraine, varying exchange rates and surging prices put a squeeze on pay and savings across the world.
Hong Kong topped the list of the priciest cities in the world, a return to pole position after ceding it to Turkmenistan's capital Ashgabat in 2021.