Bangkok now in Top 100 Most Expensive Cities to Live, but still one of the Cheapest!
Bangkok recently was added to the list of the 100 most expensive cities for Expatriate workers. This is the first time the city has been on the list based on the strong baht, economic growth and more stable politics, according to ECA International’s cost of living surveys.
Lee Guane, Asian Directo of ECA International announced on Monday "Over the past five years, Bangkok has climbed more than 80 places. The Thai capital now sits in 90th place in our cost of living rankings," ECA International specializes on information for the management and assignment of international employees.
"The Thai baht has strengthened in recent years, as the economy has expanded and the political landscape has stabilized. This means that Thai locations are now significantly more expensive for expat workers than they have been in the past," he said. Bangkok’s standing rose 32 places from last year.
Two cost of living surveys are conducted every year. The company surveys 450 locations worldwide on a multitude of like-for-like consumer goods and services purchased by assignees. Excluded are certain living costs such as accommodation rentals, utilities, car purchases and school fees.
Ashgabat, the capital of Turkmenistan in Central Asia, is the world’s most expensive city for expats. It was rocketed to the top spot from 146 in 2017 due to a deepening economic crisis.
"A plunging black market exchange rate and foreign exchange shortages have stoked levels of inflation in Turkmenistan and have led the prices of goods to increase significantly over the past 12 months," Mr Quane said.
In Asia, the second most expensive city is Hong Kong and is the sixth most expensive location in the world.
Also in Asia, Japan has four cities that rank in the top 10 expensive cities in this region with Tokyo at #4 Yokohama at #7, Nagoya at #8 and Osaka at #10.
In the world, Asian cities that top the charts are Hong Kong # 6, Seoul #7, Tokyo #8 and Singapore #19.
Bangkok at #90 in the world is still one of the cheapest cities to live.
Source: ECA International and Bangkok Post