Tokyo is world’s most expensive expat city

The decline in property values and a drop in sterling has sent London tumbling down the list of the world’s most expensive cities for expatriates, according to the Mercer survey. London came third out of 143 cities in the poll last year, but has dropped to the sixteenth most expensive city this year. Tokyo topped this year’s rankings, followed by Osaka, Moscow – last year’s most costly city – with Geneva and Hong Kong taking the other two places in the top five.