Europe’s debt crisis, slowing growth in the U.S. and worries about a hard landing in China: Even if you’ve kept your job this past year, you’ve probably had plenty to worry about. But how about the rising cost of living?
According to a new report from human resources firm Mercer Consulting, the cost of living in North American, Asian and African cities has been rising this past year, despite the global slowdown.
The study looked at 214 cities worldwide and used New York City as the benchmark. Mercer’s annual cost of living survey is used by multinational companies to determine compensation for their expatriate employees around the world. The rankings are based on the cost of more than 200 items in each location including housing, transportation, food, clothing and entertainment.
So, which cities are the most expensive to live in?