The South China Morning Post just published an article about the cost of living in Asia. It highlights that HK has become one of the top 11 most expensive place to live. They are currently ranking 11 compared to 28 in September 2008. A jump of 17 rank that is mainly due to the falling of foreign currencies while the HKD was still pegged to the USD.

For those who are wondering how does it work exactly to generate such statistic, here is an explanation from “Economist Intelligence Unit”:

“Worldwide Cost of Living, the bi-annual Economist Intelligence Unit survey, compares prices and products in 140 cities around the world. Its purpose is to provide companies with an unbiased and independent guide from which allowances can be calculated for executives and their families being sent overseas. “

Snapshot extract from the survey done by the “Economist Intelligence Unit”:

The data quoted here used New York as a base index of 100 for comparisons.

Does it mean HK people are earning more? I don’t think so.

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