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Thailand sees major drop in cost of living rankings following the effects of Covid-19
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.
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