Living costs in Bangkok surge

Living Costs In Bangkok Surge

Bangkok has again become more expensive for visitors, expats, retirees and the average Thai over the past year. In the newest cost of living survey by ECA International, a business intelligence firm focusing on data for expatriate company staff, the Thai capital has been ranked the 63rd most expensive location out of more than 450 cities surveyed.

“We have seen the cost of living in Thailand increase over several years now. Bangkok especially has risen by over 100 places in the space of five years, and is now the 63rd most expensive location in our list,” Lee Quane, regional director for Asia at ECA International said at the presentation of the survey on June 13.

“In doing so, it has moved into a category of relatively expensive locations in Asia. The city is now significantly more expensive than regional capitals including Jakarta, Kuala Lumpur and Manila,” he said.

The results of ECA’s survey are corresponding with the finding of other rankings, e.g. by Numbeo.

The survey also found that Singapore has experienced a significant rise in the rankings. While increases in prices have been small over the past year, the strength of the Singapore dollar relative to other currencies makes Singapore the 12th most expensive location in the world and the sixth in Asia, overtaking Beijing, Busan and Yokohama from a year ago. This also marks the continuation of a longer-term trend, with Singapore rising 18 places since 2014 when it was 30th in the global rankings.

The ECA’s Cost of Living Survey compares a basket of like-for-like consumer goods and services commonly purchased by international assignees in 482 locations worldwide. The survey helps businesses ensure that their employees’ spending power is maintained when they are sent on international assignments. Certain living costs, such as accommodation rental, utilities, car purchases and school fees are usually covered by separate allowances. Data for these costs are collected separately and are not included in the ECA’s cost of living basket.

Hong Kong is now the fourth-most expensive location in the world for expatriates, up from 11th last year, and the second most expensive location in Asia after being ranked in 28th place just five years ago. This is primarily owing to the continued strength of the Hong Kong dollar and relatively higher rates of inflation witnessed in the Chinese Special Administrative Region in the past 12 months. Prices in Hong Kong rose at a faster rate in the past 12 months compared to Tokyo, Shanghai and Seoul, all of which were ranked higher in our previous survey, Quane said.



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Bangkok has again become more expensive for visitors, expats, retirees and the average Thai over the past year. In the newest cost of living survey by ECA International, a business intelligence firm focusing on data for expatriate company staff, the Thai capital has been ranked the 63rd most expensive location out of more than 450 cities surveyed. “We have seen the cost of living in Thailand increase over several years now. Bangkok especially has risen by over 100 places in the space of five years, and is now the 63rd most expensive location in our list,” Lee Quane, regional director...

Living Costs In Bangkok Surge

Bangkok has again become more expensive for visitors, expats, retirees and the average Thai over the past year. In the newest cost of living survey by ECA International, a business intelligence firm focusing on data for expatriate company staff, the Thai capital has been ranked the 63rd most expensive location out of more than 450 cities surveyed.

“We have seen the cost of living in Thailand increase over several years now. Bangkok especially has risen by over 100 places in the space of five years, and is now the 63rd most expensive location in our list,” Lee Quane, regional director for Asia at ECA International said at the presentation of the survey on June 13.

“In doing so, it has moved into a category of relatively expensive locations in Asia. The city is now significantly more expensive than regional capitals including Jakarta, Kuala Lumpur and Manila,” he said.

The results of ECA’s survey are corresponding with the finding of other rankings, e.g. by Numbeo.

The survey also found that Singapore has experienced a significant rise in the rankings. While increases in prices have been small over the past year, the strength of the Singapore dollar relative to other currencies makes Singapore the 12th most expensive location in the world and the sixth in Asia, overtaking Beijing, Busan and Yokohama from a year ago. This also marks the continuation of a longer-term trend, with Singapore rising 18 places since 2014 when it was 30th in the global rankings.

The ECA’s Cost of Living Survey compares a basket of like-for-like consumer goods and services commonly purchased by international assignees in 482 locations worldwide. The survey helps businesses ensure that their employees’ spending power is maintained when they are sent on international assignments. Certain living costs, such as accommodation rental, utilities, car purchases and school fees are usually covered by separate allowances. Data for these costs are collected separately and are not included in the ECA’s cost of living basket.

Hong Kong is now the fourth-most expensive location in the world for expatriates, up from 11th last year, and the second most expensive location in Asia after being ranked in 28th place just five years ago. This is primarily owing to the continued strength of the Hong Kong dollar and relatively higher rates of inflation witnessed in the Chinese Special Administrative Region in the past 12 months. Prices in Hong Kong rose at a faster rate in the past 12 months compared to Tokyo, Shanghai and Seoul, all of which were ranked higher in our previous survey, Quane said.



Support ASEAN news

Investvine has been a consistent voice in ASEAN news for more than a decade. From breaking news to exclusive interviews with key ASEAN leaders, we have brought you factual and engaging reports – the stories that matter, free of charge.

Like many news organisations, we are striving to survive in an age of reduced advertising and biased journalism. Our mission is to rise above today’s challenges and chart tomorrow’s world with clear, dependable reporting.

Support us now with a donation of your choosing. Your contribution will help us shine a light on important ASEAN stories, reach more people and lift the manifold voices of this dynamic, influential region.

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Personal Info

Donation Total: $10.00

 

 

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