Singapore now ranks as the 16th most expensive city in the world for expatriates, according to the latest survey from ECA International released on Wednesday (Dec 14).
It edged up two places on the global ranking from a year ago, and is catching up on Hong Kong, which dropped to 11th place from ninth last year.
"Singapore's cost of living hasn't risen much in Singapore dollar terms," said Mr Quane Lee, regional director, Asia, for ECA International. "Our survey recorded inflation of less than 1 per cent.
ECA International, which leads its typical cost for basic items review twice per year, said Tokyo retook the worldwide top spot for first time since 2012, jumping 11 puts over the previous year. It was trailed by Luanda and Zurich.
ECA's overview thinks about a wicker container of like-for-like customer merchandise and ventures normally acquired by expats in more than 450 areas around the world.
It bars certain costs like convenience rental, utilities, auto buys and school expenses, in light of the fact that these are normally secured by discrete remittances, ECA said.
The rankings reflect contrasts in expansion levels and conversion standard developments between the worker's home and host nations.
"The Singapore dollar has acknowledged against most significant coinage in the months paving the way to our overview. Notwithstanding low value rises, the effect of the more grounded cash implies that where organizations give typical cost for basic items remittances to their global administrators allocated to Singapore, these will probably should be raised to guarantee that worker buying force is kept up," Mr Lee included.
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