Hong Kong is once again the world’s most expensive city for expatriates, even as the economy in the Chinese territory faces growing headwinds and companies cut back on once generous allowances.
The financial centre has the least affordable housing in the world and high rental costs helped push it back to the top of the latest annual cost of living ranking by Mercer, a consulting group.
The city replaced Luanda, capital of oil-rich Angola, where living costs fell due to its sliding currency and the commodities price slump.
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