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Oh, Wait. S’pore Isn’t in the Top 20 Most Expensive Cities for Expats?

2017-12-13 , 3:52 pm

A show of hands, please; who here thinks that living in Singapore is darn expensive?

…

Well, that’s more than I expected! Let me just do a quick count…

Whoa, that’s the whole class!

Can’t say I’m all that surprised though. There’s a reason why some foreigners have a pre-conceived notion that all Singaporeans live in landed estates and bathe in money-soaked tubs.

Alright I kinda incorporated the last one of my own accord, but the former is definitely true.

Which is all the more reason why the statistic below will either surprise you, shock you, or just render you immobile with your face saying, “I don’t give a flying ****.”

Because according to a survey by ECA International, Singapore is the 21st most expensive city in the world for expats.

Wait a minute…

Yeah I know.

I was expecting it to top the list or something.

Exact details

ECA International recently conducted a cost of living survey, and ranked Singapore the 21st most expensive location in the world for expatriates. On the other hand, it’s ranked the 9th most expensive location in the Asia Pacific region.

In the same survey published in June, Singapore ranked 24th most expensive globally, and 10th in the Asia Pacific. Last December, it was ranked 16th most expensive globally and 9th in the Asia Pacific.

European currencies are on the rise

ECA International’s regional director for Asia Lee Quane accredited Singapore’s position to the fact that “european currencies have performed very strongly over the past 12 months“.

“European currencies have performed very strongly over the past 12 months, outpacing many other currencies in the world – including the Singapore dollar,” he said.

“This has resulted in Singapore slipping down the rankings slightly, with some of the more expensive European cities rising above it in the table.”

Asian cities are leading the way

According to ECA International, Asian cities now “lead the way as the most expensive locations to live in, with more than half of the top 50 most expensive locations surveyed this year being in Asia“.

In fact, a total of 26 out of the leading 50 entries were Asian cities, with 14 Chinese cities alone making their way onto the list. In comparison, a mere four EU cities and three from the US entered the top 50.

List

I know what you’re thinking: “I’ve had enough of Singapore! What are the other countries on the list? I wanna know so that I can cross them off my relocation plans!”

I got your back bro. Without further ado, the top 20 most expensive locations globally.

And let’s not forget the Asia-Pacific region!

Purpose of the survey

ECA International said that the twice-yearly survey is to “help companies calculate cost of living allowances so that their employees’ spending power is not compromised while on international assignments”.

The surveys basically take like-for-like consumer goods and services routinely bought by assignees in 470 locations worldwide (excluding certain living costs such as accommodation and school fees), and compare them.

When all’s said and done…

I’m really kinda hoping that Singapore doesn’t make it any further up the list.

Because you know what that means.

Inflated spending rates, yo.

Although to be fair, it will be pretty positive for those employees who always have to head overseas.

Their boss will be hard-pressed to scam some allowance money then.

Since you’re here, why not watch a video about an NTU student who went all out to impress his crush, only to end up in…tragedy? Here, watch it and do remember to share it (and also subscribe to Goody Feed YouTube channel)!

This article was first published on goodyfeed.com