CEO Confidential

The world’s 19 most expensive cities to set up a business, 2016

New York City NYC

New York has been named the world’s most expensive city to set up a business, according to new report by the property broker Savills, followed by Hong Kong, and the British capital London. Two European cities are in the top 10: London, which takes third place, and Paris in fifth.

The total annual cost per employee of living and working accommodation in New York is $114,010, while 2nd place Hong Kong posted a 1% increase in cost to US$100,984.

Tokyo is in 4th place, with accommodation costs jumping 22% to US$85,331. Trailing behind Tokyo as the world’s most expensive cities to set up a business are Paris, San Francisco, Singapore, Dubai, Sydney and Los Angeles.

Report compares how much it would cost for international companies to set up a team of employees per capita in major cities around the world – to rent and occupy office space and housing for their employees.

The world’s 19 most expensive cities to set up a business

1. New York City, US — $114,010
2. Hong Kong — $100,984

3. London, UK — $100,141
4. Tokyo, Japan — $85,331

5. Paris, France — $82,880
6. San Francisco, US — $66,268

7. Singapore — $61,335
8. Dubai — $53,913

9. Sydney, Australia — $50,768
10. Los Angeles, US — $50,215

11. Miami, US — $49,946
12. Lagos, Nigeria — $45,817

13. Chicago, US – $45,456
14. Dublin, Ireland — $45,147

15. Moscow, Russia — $43,966
16. Shanghai, China — $42,577

17. Berlin, Germany — $29,933
18. Mumbai, India — $28,592
19. Johannesburg, South Africa — $20,905

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Dr. Amarendra Bhushan Dhiraj
Dr. Amarendra Bhushan Dhiraj is the CEO and editorial director at CEOWORLD magazine, the leading global business magazine written strictly for CEOs, CFOs, top managers, company directors, investors, senior executives, business leaders, and high net worth individuals.
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