SINGAPORE: Singapore jumped a whopping 12 places to become the 19th most expensive city for expatriates globally, based on a survey conducted by consultancy firm ECA International.
The surveys are carried out every March and September in over 440 cities worldwide, using a basket of day-to-day goods and services commonly purchased by expatriates.
The strengthening of the Singapore dollar against a number of other major currencies has exacerbated the cost of living here.
Assignees being relocated into Singapore are usually likely to require a higher cost of living allowance so as to maintain their spending power.
Within Asia, Singapore maintained its 9th place while Tokyo dropped from first to the seventh spot regionally and 16th place globally, mainly due to the depreciation of the Japanese Yen.
On the other hand, Shanghai has become the Asia’s most expensive city for expatriates, and the eighth most expensive globally.
Top 10 Most Expensive Asian Cities for Expatriates 2015
| Asia Rank 2015 | Location | Global Rank 2015 |
|---|---|---|
| 1 | Shanghai | 8 |
| 2 | Beijing | 9 |
| 3 | Seoul | 10 |
| 4 | Hong Kong | 12 |
| 5 | Guangzhou | 14 |
| 6 | Busan | 15 |
| 7 | Tokyo | 16 |
| 8 | Shenzhen | 18 |
| 9 | Singapore | 19 |
| 10 | Port Moresby | 21 |
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