Thailand’s two biggest cities – Bangkok and Chiang Mai – rank inside the top 30 most expensive Asian cities for ex-pats according to the latest ECA International survey.
Ashgabat in Turkmenistan claimed the top spot both globally and in Asia, with Thailand’s capital city ranking in 28th place in Asia and 60th place globally.
Chiang Mai ranked as the 29th most expensive city for ex-pats in Asia and the 142nd most expensive worldwide.
The survey is carried out in March September every year and is calculated on a range of indicators, including rental costs and utility fees. However, school fees and car prices are not included in the index.
Bangkok has risen 64 places in the global table over the past five years with ECA International citing increased foreign investment, a growing economy, and a stronger baht as reasons why Thailand’s capital has become more expensive for ex-pats.
Regional Director for Asia at ECA International, Lee Quane, said:
“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.”
Hong Kong was ranked as the second-most expensive city for ex-pats in Asia, while Singapore is the most expensive city in Southeast Asia.
Source: ECA International