Hong Kong Falls to 4th in Wealthy-City Costs as Half of Luxury Items Get Cheaper
Updated
Updated · South China Morning Post · Jul 7
Hong Kong Falls to 4th in Wealthy-City Costs as Half of Luxury Items Get Cheaper
3 articles · Updated · South China Morning Post · Jul 7
Summary
Hong Kong slipped to fourth in Julius Baer’s 2026 wealth-and-lifestyle ranking, down from third, as costs for half the tracked goods and services fell.
The report tied the shift to changing Chinese tourist spending, with affluent shoppers moving away from traditional European luxury brands and toward domestic labels.
Jewellery was cheapest in Hong Kong among the surveyed cities, while the city’s homes still ranked as the world’s second-most expensive after Monaco.
Singapore held the top spot for a fourth straight year, with Zurich second, Monaco third, Hong Kong fourth and London dropping to fifth.