The Cities With The Highest Cost Of Living In The World

Cleveland and Ankara might be viable options for remote workers who are looking to deal with the high inflation in their region, as they have low housing costs and connectivity to the rest of the world.

The Ohio city ranked 112th on the most expensive cities to live index, well behind perennial hotspots like New York, San Francisco and Boston. The Ohio city is the least expensive among American cities on the ranking.

Among all 227 global cities on the list, which was released on Wednesday, with Zurich at #2, Singapore at #8, and Nassau, Bahamas at #16 (so much for relocating to the beach!) Ankara is ranked as the least expensive city globally.

This ranking claims that Hong Kong is the world’s most expensive city for expats. It compares the prices of 200 items in 400 global cities and offers information about what a dollar might buy you in those various places.

When the pandemic hit people and employees alike began identifying best locations for colleagues to work from. Employees are increasingly requesting remote work opportunities when their employer identifies it as beneficial for their wellbeing.

Mercer has released their list of the most expensive cities for this year. For example, the war in Ukraine and inflation have impacted people’s pay and savings.

For example, Los Angeles has been ranked higher than San Francisco because rent is much higher. This also means that it’s easier to get a housing rental in San Francisco instead of in Los Angeles where the cost of living is so high. It is also found in a report published by rental site Apartment List that San Francisco-Oakland-Berkeley area was the last city in the U.S. with rent below pre-pandemic levels.

The dynamic between workers and employers has shifted as both realize they don’t need to be in an office for work to be as efficient.

As more people work remotely, major cities such as Baltimore may become attractive to outsiders.

You can live far in a smaller city, town, or suburb if you only have to go to headquarters two days a week. Remote work has opened the possibility for people to stay near the center of a large city or on the outskirts of a smaller community.

“Work from home arrangements offer firms an incentive to experiment,” Kahn says in his article, adding that, “if workers can’t be happy… the company is going to face a human resource issue.”

Companies should pay attention to the quality of life employees would have in different cities, which will affect their national and global workforce.

In a more competitive job market, employees have the choice to leave jobs that don’t pay enough.

List of Cities by Cost of Living:

Related: Top 10 Best Cities in the World For People to Live in