Bangkok is ranked 61st place in the list of the world’s priciest cities in 2014, according to the Economist Intelligence Unit’s latest Worldwide Cost of Living survey.
Coming on top of the list of 131 global cities surveyed in the bi-annual report is Singapore. It has dethroned last year’s champion, Tokyo, to become the world’s most expensive city in 2014. The cheapest city on the 131-city list on the survey is Mumbai, India.
Bangkok is more expensive than its neighbor, Kuala Lumpur, which comes in 90th place.
When looking at the most expensive cities by category it is interesting to note that Asian cities tend to form the priciest locations for general grocery shopping, with Tokyo still the most expensive
location for everyday food items. However, European cities tend to be priciest in the recreation and entertainment categories, perhaps reflecting a greater premium on discretionary income.
EIU attributed currency appreciation, solid price inflation and high costs of living for Singapore’s dubious new distinction. It said car costs have very high related certificate of entitlement fees attached to them, which makes Singapore significantly more expensive than any other location when it comes to running a car.
“As a result, transport costs in Singapore are almost three times higher than in New York. In addition, as a city-state with very few natural resources to speak of, Singapore is reliant on other countries for energy and water supplies, making it the third most expensive destination for utility costs,”
it said. Singapore is also the priciest city in the world to buy clothes.
The cheapest cities in the ranking have a familiar feel to them, both in terms of geography and consistency. While Asia is home to some of the world’s most expensive cities, the region is also home
to many of the world’s cheapest cities too. Within Asia the best value for money is in the Indian subcontinent (defined as India, Pakistan, Bangladesh, Nepal and Sri Lanka). Mumbai is the cheapest
location in the survey and three of the four cheapest cities surveyed hail from Pakistan, India and Nepal.