SINGAPORE now ranks as the 10th most expensive city in Asia for expatriates, the latest five-year survey from ECA International showed on Wednesday. It rose by 13 places on the global ranking from five years ago.
This cost of living survey reflects spending by expats, and compares a basket of like-for-like consumer goods and services commonly purchased by employees on international assignments in more than 450 locations. It strips out living expenses for accommodation rental, utilities, car purchases and school fees, because these are usually covered by separate allowances, ECA said.
Tokyo remains the most expensive city in Asia for expats, followed by Hong Kong and Shanghai. Among the 10 most expensive cities in Asia, Guangzhou registered the biggest jump of 40 places on the global scale. This was followed by Hong Kong, which had its ranking surge 26 places.
The rankings reflect differences in inflation levels as well as exchange rate movements between the employee's home and host countries.