Dec 11, 2015

    S'pore 18th most costly city for expats

    SINGAPORE is the world's 18th most expensive location for expatriates, moving six places from last year's 24th global position.

    This is according to a survey by London-based consultancy ECA International released yesterday.

    Ahead of Singapore is Hong Kong at No. 9, up 17 places from last year's 26th position.

    At No. 1 is Zurich. "Despite prices falling in the previous year, Swiss cities have moved to the top of the rankings because of the relative strength of the franc," said ECA International.

    From a regional perspective, Singapore is the 8th most expensive location in the Asia-Pacific region, up from 9th place last year.

    Hong Kong is at No. 3 while Shanghai takes pole position regionally, up from No. 3 last year. On a global level, Shanghai is at No. 7.

    On Singapore's rise in rankings, ECA International said that "the impact of (Singapore's) weaker currency has been offset by relatively high levels of inflation seen in items in our basket of goods".