Survey shows steady rise in cost of living for expats in Bangkok

[rooster59]

Survey shows steady rise in cost of living for expats in Bangkok

 

 

The latest cost of living survey by global mobility specialist, ECA International, has revealed how Bangkok has become increasingly more expensive for expats in recent years.

 

According to the firm, Bangkok has risen 64 places since 2015, indicating the Thai capital may no longer be an affordable destination for some expats and tourists.

 

In the most recent survey, Bangkok was ranked as the 28th most expensive city in Asia for expats.

 

The steady rise has been due to Thailand’s economic growth and the strong baht, the company said. 

 

“Thailand’s steady rise up our rankings has been a constant feature of our surveys in recent years as its economy has continued to grow and attract increasing investment from overseas businesses, said Lee Quane, Regional Director, Asia at ECA International. 

 

“This means that the baht has strengthened considerably – making the country more expensive for expatriates and tourists. However, this trend has slowed over the past year, partly in response to government attempts to weaken the baht in order to keep the country competitive.”

 

Elsewhere, Ashgabat in Turkmenistan topped, followed by Zurich, Geneva, Basel and Bern. Tokyo remained in seventh place globally, while Singapore dropped two places to 14th.

 

Conducted in March and September every year since 2005, the survey compares a basket of like-for-like consumer goods and services commonly bought by expatriates in more than 480 locations across the world. 

 

The items include groceries, meat and fish, household goods, recreational goods, meals out, alcohol, clothing, motoring expenses and electrical goods.

 

However, items such as accommodation rental, utilities charges (electricity, gas, and water), car purchases and school fees are not included in the survey. Such items can make a significant difference to expenses but are usually compensated for separately in expatriate packages.

 

ECA’s survey is the latest to indicate the rise in the cost of living for expats in Thailand. 

 

Last year, price aggregation website Numbeo ranked Bangkok as the second most expensive city to live in ASEAN, behind Singapore.

 

In the same survey, Phuket (4th), Pattaya (6th) and Chiang Mai (8th) also featured in the top 10 of ASEAN cities with the highest cost of living.
 

-- © Copyright Thai Visa News 2020-07-04

 

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[keith101]

Not just Bangkok prices are going up everywhere and with the exchange rate lower makes things a little harder .

[MadMac]

Pretty much correlated to the high flying Baht, no surprise here. But besides that the costs for everyone have gone up significantly, not only for "expats and tourists". I don't see any end of this, the Baht will continue to remain high, if not even go higher as western currencies are printed out of thin air and get massively inflated.

[Henryford]

Did they include wine, BKK must be number 1.

[ChakaKhan]

Less BANG for your Baht ????

[ThailandRyan]

Unfortunately it is a fact of life. Prices increase due to many factors, currency exchange rates are just one of the many.

[bill derbyshire]

can you tell me if i can still exchange money at the bank flange like  $,or uk pounds some one tell me it stopped.

[timendres]

My cost of living has gone done significantly over the past 5 years.

Food, electric, water, and other entertainment has remained almost constant.

My rent has dropped 60%. I simply made the effort to find a much better deal.

But I get paid in Baht, so that eliminates the exchange rate variable.

[Bender Rodriguez]

everything more expensive, but not for the rich ...they increased their wealth during fake covid plandemic, go figure

[Pedrogaz]

On 7/4/2020 at 9:37 AM, Henryford said:

Did they include wine, BKK must be number 1.

Never a truer word spoken in jest.

 

I lived in Tokyo for some time. Wine is very expensive there, but it is all great quality and so reasonable value. I will not drink wine here.....paying 1000 baht for some crappy undrinkable plonk is not my idea of a good time.

[RichardColeman]

Most of us know how to change budget to outside income, but the poor thai people in this covid world have no such luxury 

[hotchilli]

On 7/4/2020 at 9:06 AM, rooster59 said:

partly in response to government attempts to weaken the baht in order to keep the country competitive.”

Which hasn't done a thing!

[Catoni]

Cost of living going up in many countries.  Been going up in my birth country of Canada for decades and decades now. It’s one reason I don’t want to live in Canada anymore. 

  Southeast Asia or India or Philippines or some countries in South America my dollar goes much much further. But everywhere whatever country, it costs more to live in the biggest cities and much cheaper far away in the smaller towns and villages. 

[holy cow cm]

As my kids get older in CM, the cost of everything certainly goes up. But now that everything is 100% paid off as in cars, bikes, house, I am actually saving more. Time to build a second story addition. 

[Skeptic7]

To whom is this "news"??? Could have written the same article every year since 1998. 

[Brigand]

Not just Bangkok but the whole of Thailand. You have a choice now, be like the locals and eat cheap or spend a shed load of money for a reasonably normal standard of living. It is a myth that Thailand is a cheap place to live or visit unless you are going fully native.

Edited July 5, 2020 by Brigand

[Ron jeremy]

On July 4, 2020 at 7:06 AM, timendres said:

My cost of living has gone done significantly over the past 5 years.

Food, electric, water, and other entertainment has remained almost constant.

My rent has dropped 60%. I simply made the effort to find a much better deal.

But I get paid in Baht, so that eliminates the exchange rate variable.

Cost of living in bkk has gone down significantly over the past 5 years?

entertainment has remained constant? You must be entertaining yourself with your right hand. Entertainment in bkk in the last5 years has increased huge. 

You obviously have different forms or venues of entertainment to make such a comment. 

Different strokes for different folks.

[akampa]

anybody notice or cares that gasoline / petrol has increased in Chaing Mai April 2020 17 baht and change today July 2020 22 baht and change?

Edited July 5, 2020 by akampa

[NoshowJones]

On 7/4/2020 at 9:10 AM, keith101 said:

Not just Bangkok prices are going up everywhere and with the exchange rate lower makes things a little harder .

IMO the biggest culprits for overcharging expats is Villa Market, ie in the recent past, a tin of cornbeef same brand, in

Foodland 179 Bt per tin. In Villa Market around 340Bt.

[timendres]

13 hours ago, Ron jeremy said:

Cost of living in bkk has gone down significantly over the past 5 years?

entertainment has remained constant? You must be entertaining yourself with your right hand. Entertainment in bkk in the last5 years has increased huge. 

You obviously have different forms or venues of entertainment to make such a comment. 

Different strokes for different folks.

Or experience and connections allow me to play smarter.

[bert bloggs]

2 hours ago, possum1931 said:

IMO the biggest culprits for overcharging expats is Villa Market, ie in the recent past, a tin of cornbeef same brand, in

Foodland 179 Bt per tin. In Villa Market around 340Bt.

corned beef ,i remember that ,have not eaten it for years and certainly would not at either of those prices,luckily i like Thai food and most falang stuff i like is quite cheap ,ie pasta ,baked potato ,baked beans etc ,but yes prices have gone up on so manythings .

[yourauntbob]

Im shocked, who would have thought that if you print tons of money to artificially depress the value of your currency that prices of real goods and services would rise?  Its almost like the laws of economics work in Thailand just as they apply everywhere lese.  

[tomauasia]

On 7/4/2020 at 10:59 AM, ThailandRyan said:

Unfortunately it is a fact of life. Prices increase due to many factors, currency exchange rates are just one of the many.

Baht is high due to the government programming and now they have destroyed the Thai economy. Bravo lol

[Henryford]

On 7/7/2020 at 12:00 AM, tomauasia said:

Baht is high due to the government programming and now they have destroyed the Thai economy. Bravo lol

I always assumed the baht was high because the Western Governments have destroyed their currencies with excess money printing. The Thai economy is in great shape by comparison.