Bangkok still a cheap cost of living location

[webfact]

Bangkok still a cheap cost of living location



BANGKOK: -- Bangkok remains the world’s cheap cost of living locations for international assignees with latest survey by ECA International showing the Thai capital falling 5 places in the global ranking to 170th and to 26Th place in Asia.

ECA is the world’s leading provider of knowledge, information and technology for the management and assignment of employees around the world.

In the 2013 annual survey, Bangkok has fallen just 5 places in the global ranking to 170th, and 26TH in the regional ranking. But Bangkok’s neighbor, Kuala Lumpur, now ranks 200th in the global ranking – 16 places down on last year.

Singapore remains more expensive than its neighbors in Southeast Asia: Bangkok (in 26th position in Asia), Jakarta (27th), Vientiane (28th) and Kuala Lumpur (30th).

Singapore has slipped one spot to 9th position in the regional ranking. It is now behind Hong Kong (8th position) for the first time since 2010. This is largely due to the recent weakening of the Singapore dollar against the US dollar to which the Hong Kong currency is pegged.

But for global ranking, Singapore is now the 30th most expensive location for international assignees, having moved up one spot from last year’s 31st position.

“As in many parts of the world, Singapore saw a slowdown in price rises this year,” said Lee Quane, Regional Director – Asia, ECA International.

“Actions previously taken to temper rapidly rising prices there included careful management of the dollar by the MAS. However, as inflation fell, the dollar has been allowed to weaken a little. Nevertheless, in both the global and regional context Singapore has maintained its position as one of the more expensive locations in the world for expatriates – a very different picture from just five years ago when it was only just in the global top 100.”

To ensure that their employees’ spending power is not compromised while on international assignment multinational companies will often include a cost of living allowance in their pay package. Living costs for assignees are affected by inflation, availability of goods and exchange rates, all of which can have a significant impact on assignee remuneration packages. To assist companies with their calculations ECA carries out two Cost of Living Surveys per year, comparing a basket of like-for-like consumer goods and services commonly purchased by assignees in 440 locations worldwide.

Asia – more regional highlights

While Tokyo still tops the list of the most expensive locations in Asia for expatriates, globally it has fallen to 10th place on the back of a weaker Yen – a significant drop from last year, when it was the most expensive city in the world for expatriate staff. Companies that need to locate staff into Japan can now do so for considerably less than in recent years, despite the long period of deflation in the country being reversed earlier this year.

The difference in the cost of ECA’s cost of living basket between Tokyo and Singapore fell from 46% to 19% over 12 months.

After Japan, some of the biggest falls in living costs in Asia have been seen in Indonesia – also partly as a result of a weaker currency. While Jakarta has only fallen 3 places in the regional ranking to 27th, globally it has dropped 45 spots to 172nd place.

Beijing is now Asia’s second most expensive location after Tokyo, up from 5th position last year. Globally, the Chinese capital is the 15th most expensive location for expatriates. Shanghai previously in 25th position is now in the 18th position in the global results, and 4th in Asia.

“Although the Chinese government has allowed the Renminbi to appreciate steadily against the US dollar and food and oil prices in China have been rising, Beijing’s jump up the ranking is largely due to Japanese locations becoming so much cheaper because of the weakened Yen,” said Lee Quane, Regional Director – Asia, ECA International. “Nevertheless, living costs in Chinese locations have increased in recent years, making China a more expensive location than some of its neighbors for companies looking to set up operations in the region.”

“It’s important to remember that certain living costs, such as accommodation rental, utilities, car purchases and school fees are not included in our cost of living basket,” continued Quane. “Because these costs are usually addressed separately by an expatriate’s employer, we collect this data separately. But if we were to include such costs, Hong Kong and Tokyo would be higher in the ranking, while Beijing would be significantly cheaper due to lower housing costs.”

Karachi remains the cheapest location surveyed in Asia.

Source: http://englishnews.thaipbs.or.th/bangkok-still-cheap-cost-living-location/


-- Thai PBS 2013-12-17

[andygunther]

Still much that is cheap here,

but with Thailand's inflation (20-30% / year), it's just a matter of time.

[davejones]

Still much that is cheap here,

but with Thailand's inflation (20-30% / year), it's just a matter of time.

20-30% a year. LOL. Some things are cheaper here now than when I moved here almost 4 years ago. Rent hasn't gone up at all. So 0% inflation over 4 years. You are deluded if you think inflation is 20-30% p.a.

[PeterSmiles]

Still much that is cheap here,

but with Thailand's inflation (20-30% / year), it's just a matter of time.

20-30% a year. LOL. Some things are cheaper here now than when I moved here almost 4 years ago. Rent hasn't gone up at all. So 0% inflation over 4 years. You are deluded if you think inflation is 20-30% p.a.

Please name some items that are cheaper than 4 year ago.

[HardenedSoul]

BKK remains as cheap as chips for the single person.

It'll be a cold day in hell when I go back to not getting much change out £3 - 4,000 every month to live well in London when I can replicate the lifestyle (minus a car) for just 30% of that in Bangkok.

Bangkok rocks, man!

[pdwarf1]

You must all be on something. Bangkok, and other Tourist areas of Thailand are not cheap anymore. I have lived in Thailand off and on for more than 30 years and believe me, I am leaving soon for much cheaper places than here.

[thrilled]

I don't see things going up 20-30% A year in Thailand.Maybe it's just me.

[MB1]

BKK remains as cheap as chips for the single person.

It'll be a cold day in hell when I go back to not getting much change out £3 - 4,000 every month to live well in London when I can replicate the lifestyle (minus a car) for just 30% of that in Bangkok.

Bangkok rocks, man!

Bangkok Or Thailand aint as cheap as it used to be £4000 pounds used to get me around 320,000 baht, today it gets me around 205,000 baht, that's minus 115,000 baht ......

I might have been in Thailand when the exchange rates were far better, but I still come to Thailand and things aint as cheap as they used to be..

[HardenedSoul]

BKK remains as cheap as chips for the single person.

It'll be a cold day in hell when I go back to not getting much change out £3 - 4,000 every month to live well in London when I can replicate the lifestyle (minus a car) for just 30% of that in Bangkok.

Bangkok rocks, man!

Bangkok Or Thailand aint as cheap as it used to be £4000 pounds used to get me around 320,000 baht, today it gets me around 205,000 baht, that's minus 115,000 baht ......

I might have been in Thailand when the exchange rates were far better, but I still come to Thailand and things aint as cheap as they used to be..

Well of course things have gotten more expensive - you can't expect Thailand to be enclosed in some sort of bubble where time stands still and things stay mega cheap just so expats can feel like multi-millionaires.

It is cheap; it's just that sterling doesn't buy as much baht as it used to.

If it did, I daresay you'd be saying "Thailand/Bangkok is cheap"

[PeterSmiles]

I don't see things going up 20-30% A year in Thailand.Maybe it's just me.

I guess it's just you, because all the other saw most of the alcoholic beverages go up with 20% in one time just a few weeks ago.

I know you gonna say alcohol isn't an essential food item, so I will add that rice has gone up much more than 20% in the past year.

[Skint]

It's more expensive than Germany, beer, rent, cars and women all way way cheaper than Thailand.

[PeterSmiles]

It's more expensive than Germany, beer, rent, cars and women all way way cheaper than Thailand.

I remember a few years ago when I made a trip back to my home country, I took several 1 and 5 kg bags of Thai rice with me as a present for family and close friends, only to find out that Thai rice was sold at about the same price in my local supermarket.

It will also have been export quality, which is normally better as what you can buy in local Thai market.

Edited December 17, 2013 by PeterSmiles

[ultimate weapon]

Here's a good place

[Diplomatico]

Still much that is cheap here,

but with Thailand's inflation (20-30% / year), it's just a matter of time.

"The inflation rate in Thailand was recorded at 1.92 percent in November of 2013. Inflation Rate in Thailand is reported by the Bureau of Trade and Economic Indices, Ministry of Commerce, Thailand. Inflation Rate in Thailand averaged 4.61 Percent from 1977 until 2013, reaching an all time high of 24.56 Percent in June of 1980 and a record low of -4.38 Percent in July of 2009."

That's from http://www.tradingeconomics.com/thailand/inflation-cpi

From 2000-2013, inflation is Thailand has averaged around 3.0 to 3.5%.

[fifthcolumn]

Well, alcohol has risen 2x in recent memory and is more expensive here than most US states. Everything is up, toiletries are scandalously expensive. Vegetables, Cleaning supplies can be pretty poor value, many snack foods. We have been in same flat three years, raised when first lease was up, changed rooms - raised again. Seems only things not up in price are staples controlled by govt. Street food has both risen and not, so that is a wash.

MRT is a bit more and BTS is stupid expensive (now).

Restaurants, about the same. Pharma, same.

Many tourism related enterprises have risen, some not as much as others. Buses, speedboats. National Parks are trying to raise foreigners entrance fees. It was delayed. Seems air tickets are more expensive.

Many visa services and the way visa processes manipulated that in affect makes extensions more expensive.

I recently gave my dentist the big <deleted> after ten + years for raising prices into stratosphere. Medical checks are ridiculously priced now.

I still live very cheaply, but it is by design. It takes effort, discipline and control. Lucky I have a great wife.

Ten years the 401k will mature, another few social security. Until then, its tight. Should have perhaps not got married, that would have saved me most. Four years together, 2 years married and she is as lovely as the day I met her. First marriage for both.

Edited December 18, 2013 by fifthcolumn

[ezzra]

It all has to do with where in Bkk do you live, if you're a Silom to Sukhumvit areas resident than it's

not so cheap, if you go live in the boondocks of Bkk, that you can practically live on a shoe string...

[muratremix]

Still much that is cheap here,

but with Thailand's inflation (20-30% / year), it's just a matter of time.

"The inflation rate in Thailand was recorded at 1.92 percent in November of 2013. Inflation Rate in Thailand is reported by the Bureau of Trade and Economic Indices, Ministry of Commerce, Thailand. Inflation Rate in Thailand averaged 4.61 Percent from 1977 until 2013, reaching an all time high of 24.56 Percent in June of 1980 and a record low of -4.38 Percent in July of 2009."

That's from http://www.tradingeconomics.com/thailand/inflation-cpi

From 2000-2013, inflation is Thailand has averaged around 3.0 to 3.5%.

You believe this cr*p?

3rd world countries usually fake inflation numbers by choosing products on inflation calculations. For example, they don't include price hike on Beef, but perhaps they include price of CP fish or something. They don't include price of gasohol or lpg, but they include heavily subsidied CNG or price fixed Diesel instead. They include price of national park tickets for Thai, but they don't include price hike of street food.

Understand?

[Diplomatico]

Still much that is cheap here,

but with Thailand's inflation (20-30% / year), it's just a matter of time.

"The inflation rate in Thailand was recorded at 1.92 percent in November of 2013. Inflation Rate in Thailand is reported by the Bureau of Trade and Economic Indices, Ministry of Commerce, Thailand. Inflation Rate in Thailand averaged 4.61 Percent from 1977 until 2013, reaching an all time high of 24.56 Percent in June of 1980 and a record low of -4.38 Percent in July of 2009."

That's from http://www.tradingeconomics.com/thailand/inflation-cpi

From 2000-2013, inflation is Thailand has averaged around 3.0 to 3.5%.

You believe this cr*p?

3rd world countries usually fake inflation numbers by choosing products on inflation calculations. For example, they don't include price hike on Beef, but perhaps they include price of CP fish or something. They don't include price of gasohol or lpg, but they include heavily subsidied CNG or price fixed Diesel instead. They include price of national park tickets for Thai, but they don't include price hike of street food.

Understand?

Well, I could base my conclusions on the data provided in the OP from an independent organization, the data provided in the link I copied....or from a guy making unsubstantiated claims on an internet bulletin board. It isn't difficult to determine where each of those lies within the credibility spectrum.

Understand?

[Bangkok45]

It all has to do with where in Bkk do you live, if you're a Silom to Sukhumvit areas resident than it's

not so cheap, if you go live in the boondocks of Bkk, that you can practically live on a shoe string...

I totally agree with you! When I first moved to Bangkok my obvious choice was to live in Sukhumvit at La Raffine Condominium which costs me 120k baht a month. Yes, it's posh and classy but years down the road and with a little bit more gravitas to my senses. I moved to a townhouse 15 minutes outside the city center. It cost me 25k baht for a 4 story 3 bedrooms all with ensuite bathrooms amd a rooftop garden. I'm happy now, but recently I discovered a gem of a townhouse in Bang Buae Tong in Nonthaburi, just as good as my current home and here's the shocker...it's only 9k baht a month. Thus location determines the cost:)

[reeshoward]

It's more expensive than Germany, beer, rent, cars and women all way way cheaper than Thailand.

[reeshoward]

Cars ?

[Bpuumike]

Still much that is cheap here,

but with Thailand's inflation (20-30% / year), it's just a matter of time.

20-30% a year. LOL. Some things are cheaper here now than when I moved here almost 4 years ago. Rent hasn't gone up at all. So 0% inflation over 4 years. You are deluded if you think inflation is 20-30% p.a.

Have to agree, 20 - 30% inflation is nonsense.

[Bpuumike]

It all has to do with where in Bkk do you live, if you're a Silom to Sukhumvit areas resident than it's

not so cheap, if you go live in the boondocks of Bkk, that you can practically live on a shoe string...

I totally agree with you! When I first moved to Bangkok my obvious choice was to live in Sukhumvit at La Raffine Condominium which costs me 120k baht a month. Yes, it's posh and classy but years down the road and with a little bit more gravitas to my senses. I moved to a townhouse 15 minutes outside the city center. It cost me 25k baht for a 4 story 3 bedrooms all with ensuite bathrooms amd a rooftop garden. I'm happy now, but recently I discovered a gem of a townhouse in Bang Buae Tong in Nonthaburi, just as good as my current home and here's the shocker...it's only 9k baht a month. Thus location determines the cost:)

120K/month?? Hope your company was paying for it.

I stayed 6 months in a pretty posh and classy place in Suk for 30K/month with unlimited electricity and daily maid service.

I'm 10 minutes away now and the wife pays all of 4K/month though she's had it 15 years. There's no BTS or MRT so taxis can eat up more than the rent.

Edited December 18, 2013 by Bpuumike

[gcbruk]

I live in Chiang Mai on my own on a basic UK pension plus another small pension in all about 40,000 baht a month. I live reasonably well, according to my own standards, with a small flat and a little motorbike. I eat well, travel around a bit, and even enjoy a few beers and a night out now and again, and I also get home once a year. Still I live on about half my income so I can even save a bit.

Compare this with living in the UK where my income would barely pay even pay the rent!

Having said that I have been in CM for nearly five years now and it's becoming a bit same same so I am thinking of relocating elsewhere in SE Asia. Any recommendations out there? Where is it even cheaper and even possibly more attractive to live? Are all locations beset with the same visa problems? (ps I stay on a 6 month tourist visa which with hassle I can stretch to 10 months).

Any thoughts anyone,

Thanks

[mariner16]

All I know is that I came to Bangkok from Singapore, still work for a Singapore company on Singapore rates of pay and my living costs are 70 per cent lower.

Spent two years renting at THB 25k per month for 2 bed 2 bath 95m2 apartment in Sukhumvit Soi 8, similar in Singapore even then would have been SGD 4,000 per month (THB 100k) so four times the rent in Bangkok

Brought a 3 bed 2 bath 2 storey townhouse in Phra Khanong earlier this year, and even factoring in a complete set of furniture and a total redecoration only set me back THB 4 million try comparing that to Singapore or London prices

The only negative over that time has been the tories allowing the pound to devalue 30% which has reduced the amount of baht I get for my unearned income coming from UK

I for one have no plans to leave Bangkok

[Travel Dude]

You must all be on something. Bangkok, and other Tourist areas of Thailand are not cheap anymore. I have lived in Thailand off and on for more than 30 years and believe me, I am leaving soon for much cheaper places than here.

Where will you go that is so much cheaper than here? Thank you for sharing.

[Jasun]

At last, a list Thailand can feel proud to be at the bottom of. Bangkok is such a great city, let's hope it always stays affordable.

Sent from my iPhone using Thaivisa Connect Thailand mobile app

[rott]

It's more expensive than Germany, beer, rent, cars and women all way way cheaper than Thailand.

Please give some specific comparisons, otherwise this is meaningless.

[smileydude]

Cheap is not as important as the quality of life at a reasonable price so I wouldn't read into it much.

I'd place more priority on:

Quality housing/infrastructure.

Convenient access to quality healthcare.

Good international schools for the kids.

Great food and shopping.

Ease at getting along with the locals

Personal and road safety.

I think Thailand is pretty decent in all of the above aspects except for ROAD SAFETY.

Drive at your own hazard and watch out for those chickens and dogs.

[KOZMO]

It's more expensive than Germany, beer, rent, cars and women all way way cheaper than Thailand.

YA, but who wants all the hair and smell of german women????????????