Bangkok ranks 61st place in list of world’s most expensive cities in 2014

[webfact]

Bangkok ranks 61st place in list of world’s most expensive cities in 2014



BANGKOK: -- Bangkok is ranked 61st place in the list of the world’s priciest cities in 2014, according to the Economist Intelligence Unit’s latest Worldwide Cost of Living survey.

Coming on top of the list of 131 global cities surveyed in the bi-annual report is Singapore. It has dethroned last year’s champion, Tokyo, to become the world’s most expensive city in 2014.

The cheapest city on the 131-city list on the survey is Mumbai, India.

Bangkok is more expensive than its neighbor, Kuala Lumpur, which comes in 90th place.

EIU attributed currency appreciation, solid price inflation and high costs of living for Singapore’s dubious new distinction.

It said car costs have very high related certificate of entitlement fees attached to them, which makes Singapore significantly more expensive than any other location when it comes to running a car.

“As a result, transport costs in Singapore are almost three times higher than in New York. In addition, as a city-state with very few natural resources to speak of, Singapore is reliant on other countries for energy and water supplies, making it the third most expensive destination for utility costs,” it said.

Singapore is also the priciest city in the world to buy clothes.

Last year’s title holder Tokyo, dropped from the top spot to sixth – tied with Melbourne, Geneva and Caracas. It said Tokyo’s decline is due to the weaker yen.

Other most expensive cities trailing behind Singapore are Paris, Oslo, Zurich, Sydney, Caracas, Geneva, Melbourne, Tokyo and Copenhagen.

EIU released its Worldwide Cost of Living survey twice a year.

It compares more than 400 individual prices across 160 products and services in 131 cities, including food, drink, clothing, household supplies and personal care items, home rents, transport, utility bills, private schools, domestic help and recreational costs.

In total, more than 50,000 individual prices are collected in each survey.

“The cost-of-living index uses an identical set of weights that is internationally based and not geared toward the spending pattern of any specific nationality,” says the EIU. “Items are individually weighted across a range of categories and a comparative index is produced using the relative difference by weighted item.”

Source: http://englishnews.thaipbs.or.th/bangkok-ranks-61st-place-list-worlds-expensive-cities-2014/


-- Thai PBS 2014-03-05

[Calach]

For expats the cost of living has known a noticeable raise of about 15% per liter.

[recycler]

For expats the cost of living has known a noticeable raise of about 15% per liter.

You're too low, Beer Chang went up 25%!

[Razzler1973]

Wow, that's some way ahead of KL

[americaninbangkok]

Thailand Number One on List of Countries That Likes to Compare Itself to Others (Even If It Is Smack in the Middle of the List!)

[LALes]

What's Caracas doing in there in the top 10?

[Metapod]

What's Caracas doing in there in the top 10?

hyperinflation since the death of Chavez.

would be cheap if you brought USD in to spend and traded them on the black market though.

[outsider]

Curious about the criteria Economist used to determine how expensive a city is. Does anyone here know how it was measured, or the matrixes used?

Reason is, I'm quite surprised that Kuala Lumpur is cheaper than BKK, and by quite a margin too (90th and 61st, respectively). Based on my personal lifestyle, and I'm sure everyone is different, I found BKK cheaper. Cars (locally-assembled models) are on average THB200,000 cheaper. Food, clothing, transport are generally cheaper in BKK. Even 'non-essential' stuffs like alcohol is cheaper in BKK. Fuel prices are cheaper in Malaysia, but that's due to a government subsidy which is being lifted slowly. I can't comment on property because I'm not familiar with the property sector in BKK/Thailand.

So, based on what I spend on, I really can't see how KUL can be cheaper than BKK.

[Diplomatico]

Curious about the criteria Economist used to determine how expensive a city is. Does anyone here know how it was measured, or the matrixes used?

Reason is, I'm quite surprised that Kuala Lumpur is cheaper than BKK, and by quite a margin too (90th and 61st, respectively). Based on my personal lifestyle, and I'm sure everyone is different, I found BKK cheaper. Cars (locally-assembled models) are on average THB200,000 cheaper. Food, clothing, transport are generally cheaper in BKK. Even 'non-essential' stuffs like alcohol is cheaper in BKK. Fuel prices are cheaper in Malaysia, but that's due to a government subsidy which is being lifted slowly. I can't comment on property because I'm not familiar with the property sector in BKK/Thailand.

So, based on what I spend on, I really can't see how KUL can be cheaper than BKK.

Click on the link at the end of the OP and you'd find:

"EIU released its Worldwide Cost of Living survey twice a year. It compares more than 400 individual prices across 160 products and services in 131 cities, including food, drink, clothing, household supplies and personal care items, home rents, transport, utility bills, private schools, domestic help and recreational costs.

In total, more than 50,000 individual prices are collected in each survey.

“The cost-of-living index uses an identical set of weights that is internationally based and not geared toward the spending pattern of any specific nationality,” says the EIU. “Items are individually weighted across a range of categories and a comparative index is produced using the relative difference by weighted item.”

[outsider]

Curious about the criteria Economist used to determine how expensive a city is. Does anyone here know how it was measured, or the matrixes used?

Reason is, I'm quite surprised that Kuala Lumpur is cheaper than BKK, and by quite a margin too (90th and 61st, respectively). Based on my personal lifestyle, and I'm sure everyone is different, I found BKK cheaper. Cars (locally-assembled models) are on average THB200,000 cheaper. Food, clothing, transport are generally cheaper in BKK. Even 'non-essential' stuffs like alcohol is cheaper in BKK. Fuel prices are cheaper in Malaysia, but that's due to a government subsidy which is being lifted slowly. I can't comment on property because I'm not familiar with the property sector in BKK/Thailand.

So, based on what I spend on, I really can't see how KUL can be cheaper than BKK.

Click on the link at the end of the OP and you'd find:

"EIU released its Worldwide Cost of Living survey twice a year. It compares more than 400 individual prices across 160 products and services in 131 cities, including food, drink, clothing, household supplies and personal care items, home rents, transport, utility bills, private schools, domestic help and recreational costs.

In total, more than 50,000 individual prices are collected in each survey.

“The cost-of-living index uses an identical set of weights that is internationally based and not geared toward the spending pattern of any specific nationality,” says the EIU. “Items are individually weighted across a range of categories and a comparative index is produced using the relative difference by weighted item.”

Hey thanks! Missed that one. My bad.