Thai and Vietnamese locations fell by at least ten places in the rankings this year as the pandemic hit local economies.
- Thai locations dropped by at least ten places in this year’s global rankings, with Bangkok falling by 16 places to 39th in the world
- Singapore falls to 14th most expensive location for overseas workers, overtaken by Danish and Swiss locations as the Singapore dollar weakens
- Hong Kong remains the most expensive location for expatriates to live in, despite falling rental prices
- Tokyo comes in second in the global rankings, with New York in third place
These are the key findings of the latest global Cost of Living research published by ECA International, the world’s leading provider of knowledge, information and software for the management and assignment of employees around the world.
“Both the Thai baht and Vietnamese dong weakened significantly against other major currencies during the Covid-19 pandemic, partly due to a major blow to the tourism industry as fewer visitors travelled to the region. Rental costs also fell due to the weaker demand.
The only Thai city that remains in the global top 100 most expensive locations is Bangkok, but even the Thai capital fell 16 places in the rankings to 39th overall,” said Lee Quane, Regional Director – Asia at ECA International.
Gambling in Asia: Thailand and more
There is a large demand for gambling throughout Asia, which is detailed below in a comparison between various countries, such as Thailand and more.
One of the fastest growing industries in the world is the gambling industry. It is currently worth around $443.2 billion, and is expected to continue climbing to an estimated $647 billion by 2027.
Skin-lightening products market to reach US$31 billion by 2024
In emerging Asian and African economies, the natural aspiration to enhance one’s circumstances has led to rapid growth in the market for skin-lightening products, which is projected to reach US$31 billion by 2024.
How much do you need to retire in Thailand?
The lowest in Southeast Asia is Indonesia at USD290,599, followed by Malaysia at USD321,614. Vietnam is competitive at USD353,906. Cambodia and Thailand are a close tie at around USD389,000.
SINGAPORE, 1 March 2021: Singapore and Hong Kong are among the ranks of the most expensive places to retire, with Pakistan, India and Kyrgyzstan at the cheapest end of the scale, according to a study by NetCredit.
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