Bangkok by night (Source: smartertravel)
Bangkok (VNA) – Bangkok has leapt 43 placesand entered the 50 most expensive locations in the world for the first time,largely due to the strong baht, according to a survey by ECA International,which advises on management and compensation for employees being assignedaround the world.
Bangkok, long seen as a cheap destination forholidaymakers and expatriates alike, has seen a huge jump in its ranking,moving the most out of all Asian cities surveyed, according to Lee Quane,regional director for Asia with ECA International.
Bangkok has moved up 75 places in the last two years, and now ranks 47th in the annual ECA Cost of Living survey. This is a result of the strong baht,he said.
Ashgabat, the capital of Turkmenistan, remains the mostexpensive city in Asia and the world for expats for a second year runningthanks to a combination of high inflation and a black market currency rate farweaker than the official exchange rate.
Meanwhile, the cost of living in Japan’s Tokyo rankssecond in Asia, followed by China’s Hong Kong, and Japan’s Yokohama, Nagoya andOsaka cities. Singapore is the seventh most expensive location in Asia forexpat workers to live, and the 13th most expensive in the world.
Middle Eastern countries havegenerally continued to see an increase in the cost of living because of thestrength of their currencies -- many of which are tied to the USD. Tel Aviv entered the top 10 for the firsttime in ninth place and Jerusalem was 12th.
Apart from Swiss cities that continue to dominate the top 10 worldwide, mostEuropean cities have fallen in the rankings since last year.
ECA International has been researching thecost of living for more than 45 years. It carries out two main surveys per yearto help companies calculate cost of living allowances so their employees'spending power is protected while on international assignment./.
