Hong Kong is the most expensive city in the world for expatriates, Bloomberg reports with the reference to consulting firm Mercer.

Financial center takes the first place in the list dominated by Asian cities. Tokyo takes second place, Singapore fourth, Seoul fifth, Shanghai seventh and Beijing ninth. Cities of Europe and Africa are expensive ones outside Asia. Zurich is located at third place and Luanda is at sixth.

Currency fluctuations are among main reasons why Asia is leading on the list. China’s economic growth and its desire to make yuan an international currency put Chinese cities at upper positions of the list.

Mercer uses New York as base city for all comparisons and uses dollar to measure currency changes. Rating of 2018 includes 209 cities in five continents. Cost of more than 200 items is measured for each location, including food, clothing, transport abd housing.