Hong Kong slipped out of a list of the 10 most expensive cities in the world for expats, but it is still a costly place to live compared to five years ago, according to the latest survey by international human resources consultancy ECA International. The study ranked Hong Kong as the 11th most expensive location for expats, down two spots from last year. In the Asia-Pacific region, Hong Kong placed fifth, also two places lower than in 2015. The drop in ranking was attributed to the strength of the Japanese yen. Nevertheless, Hong Kong is still expensive. A pint of beer costs USD12.29 in Hong Kong but USD8.71 in London, while a medium cappuccino costs on average USD5.03 in Hong Kong but USD3.36 in Sydney. “Over the past five years, Hong Kong has generally risen in the ECA global rankings, from 60th in 2011, up 49 places to 11th in 2016,” Lee Quane, Asia Regional Director for ECA International, said. Japan is the most expensive country for overseas employees. Four Japanese cities made the top 10, with Tokyo taking the number one spot, up from 12th place in 2015. Among mainland Chinese cities, Shanghai took the highest spot at 13th globally, and seventh in the Asia-Pacific region. Singapore placed 16th globally, making it more attractive than Hong Kong for companies hiring expatriates.