Hong Kong loses crown to Turkmenistan’s Ashgabat as world’s most expensive city

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  • South China Morning Post published this video item, entitled “Hong Kong loses crown to Turkmenistan’s Ashgabat as world’s most expensive city” – below is their description.

    Turkmenistan’s capital Ashgabat has been ranked as the world’s most expensive city for expats in 2021, according to an annual cost-of-living survey by consultancy firm Mercer. Hong Kong dropped to second place, followed by Beirut and Tokyo.

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    In This Story: Hong Kong

    Hong Kong, officially the Hong Kong Special Administrative Region of the People’s Republic of China (HKSAR), is a metropolitan area and special administrative region of the People’s Republic of China on the eastern Pearl River Delta of the South China Sea. With over 7.5 million residents of various nationalities in a 1,104-square-kilometre (426 sq mi) territory, Hong Kong is one of the most densely populated places in the world.

    Hong Kong became a colony of the British Empire after the Qing Empire ceded Hong Kong Island at the end of the First Opium War in 1842. The colony expanded to the Kowloon Peninsula in 1860 after the Second Opium War and was further extended when Britain obtained a 99-year lease of the New Territories in 1898. The whole territory was transferred to China in 1997. As a special administrative region, Hong Kong maintains separate governing and economic systems from that of mainland China under the principle of “one country, two systems”.

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  • In This Story: Tokyo

    Tokyo, Japan’s busy capital, mixes the ultramodern and the traditional, from neon-lit skyscrapers to historic temples. The opulent Meiji Shinto Shrine is known for its towering gate and surrounding woods. The Imperial Palace sits amid large public gardens.

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