Living costs in Tokyo dropping according to recent study

Many would agree that a lot can change in a decade or so. When I first moved here in 2013, Tokyo had been named the most expensive city in the world to live in by a Mercer report the year before. Even as recently as 2020, the capital was the world's third most expensive city to live in on the same report.

Fast forward to 2024, and given the yen's position, Tokyo has dropped to the world's 49th most expensive city to live in. Some other Japanese cities mentioned in the report were Osaka at 146th, Yokohama at 154th, and Nagoya at 161st. The rankings are based on a number of different price assessments, including housing, public transport, food, clothes, household items, and entertainment costs.

I think it's important to note that these changes to cost of living are probably not as noticeable unless you're an expat getting paid in a different currency (e.g. some people I know who live in Tokyo work for U.S. companies and get paid in USD). I don't really feel like the cost of living has changed for the better for those of us who are paid in yen. 

For anyone interested in learning more about the report, you can explore the 2024 data here.