Luxembourg City occupied eighty-third place in the 2020 Mercer Cost of Living ranking, up from eighty-fourth in 2019.
The top spots were taken by Hong Kong, Ashgabat in Turkmenistan, Tokyo (down from second), Zurich (up from fifth), and Singapore (down from third). The ranking assessed 209 cities globally where expats are found. The cheapest were Tunis, Tunisia, Windhoek, Namibia, and Bischkek, Kyrgyzstan.
The Mercer study is drawn up to help improve company expat management processes and base allowances on real costs. The ranking is based on the cost of a shopping basket of 200 products, as well as currency fluctuations, inflation rate and housing costs.
It shows that the strength of the US dollar pushed several US cities up in the ranking, such as New York, which rose three sports to sixth place. European cities, such as Paris which dropped from forty-seventh to fiftieth place, were comparatively less expensive. While London climbed four spots to nineteenth place.
