Bangkok climbs rankings in most expensive cities survey

By The Nation

 

 

Eight of the world’s top 10 most expensive cities are located in Asia as a result of the region’s high costs for consumer goods and a dynamic housing market, with Bangkok (40) jumping 12 places, according to Mercer’s 25th annual 2019 Cost of Living Survey, which was released on Wednesday.

 

Hong Kong tops the list as the world’s costliest city for the second consecutive year with the local housing market increasingly out of reach for many. 

 

Other cities appearing in the top 10 are Tokyo (2), Singapore (3), Seoul (4), Zurich (5), Shanghai (6), Ashgabat (7), Beijing (8), New York City (9), and Shenzhen (10). Ashgabat in Turkmenistan saw the biggest rise in rankings, jumping 36 places from 43rd in 2018, the result of the country’s shortage of currency and imported goods driving up prices.

 

Bangkok’s rise in ranking was largely due to the movement of other cities as well as the effects of a buoyant economy, with currency fluctuation and inflation having little impact.

 

Mario Ferraro, Mercer’s Global Mobility Practice Leader for Asia, Middle East and Africa, said Asia continued to be a major engine of global economic growth.

 

“Despite the relatively high cost of living, many organisations still see a strong business rationale for moving talent into and within the region. At the same time, cost considerations are still an issue, and we are seeing an increased focus on having a clear business case for the assignment, as well as measuring the return on investment,” he said.

 

This year’s ranking includes 209 cities across five continents and measures the comparative cost of more than 200 items in each location, including housing, transportation, food, clothing, household goods and entertainment.

 

Source: http://www.nationmultimedia.com/detail/breakingnews/30371791

 

-- © Copyright The Nation 2019-06-26

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Blame the strong baht! I don't see imported food stuffs getting cheaper and the importers would be laughing with more profits.

2 hours ago, shady86 said:

Blame the strong baht! I don't see imported food stuffs getting cheaper and the importers would be laughing with more profits.

If you have been paying attention a "strong baht" is the result of the currencies of developed countries (except USD) tanking not the baht strengthening. The blame is there not here.   

Not much Bang for the buck anymore.

I thought this was published on TVF already some weeks ago?

5 hours ago, snoop1130 said:

bangkok’s rise in ranking was largely due to the movement of other cities as well as the effects of a buoyant economy, with currency fluctuation and inflation having little impact.

wow. The bashers wont like that 

7 hours ago, JeezeLooeze said:

If you have been paying attention a "strong baht" is the result of the currencies of developed countries (except USD) tanking not the baht strengthening. The blame is there not here.   

It's the strongest currency in Asia. Up against everything, including the USD and regional currencies. 

So shouldn't imported goods be cheaper since the baht is so strong? Get more for your money.

Yes, if you need things like your designer butter imported from france, bangkok is one of the most expensive cities in the world. 

The humble Thai use to be able to rely on Bangkok for two things:  a job and low cost of living.   If that is no long the case, it only points to inept government that has failed the people.

 

Also, it depends on how you live.  In Shenzhen, you can still eat a decent or good meal for under B100.   These surveys seem to focus on high end housing and imported food.   We use to rent two story homes on Soi 71 for around B12k a month.

Edited June 27, 20197 yr by yellowboat

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10 hours ago, madmen said:

wow. The bashers wont like that 

Try convincing Thai exporters of Thailand's buoyant economy.

A contraction in exports is being predicted, some say in part to the high baht value.

Now even TAT is complaining of lower foreign tourists.

My highest recurring expense in Bangkok is my condo, but I observed that rental prices are starting to go down (slowly) and I have hopes it will continue with all those new projects emptying the older ones.

Internet, phone data plan, taxis, public transport, food, cinema, travel, hotels, everything that's not imported is less expensive than in my country. I also don't need a car in Bangkok, which helps a lot with expenses. I would be spending more living the same way in a medium city in my home country, except I wouldn't have a swimming pool in my appartment's building.

This may slow the flow of the hated farangs but for those who live in the Kingdom there are alternatives to many of the surveyed items allowing for a reasonably inexpensive lifestyle.