Connect with us

Thailand

Thailand growing more expensive for expats

Published

 on 

PHOTO: Business Traveller
Thaiger deals

According to Employment Conditions Abroad, Bangkok and Chiang Mai are among the 30 most expensive cities for expats in Asia. The capital of Turkmenistan might not spring to mind when with considering the priciest cities, but according to ECA International it ranks first on both the global and Asian tables, a 5 point rise up the rankings due to an ongoing economic crisis, food shortages and the resulting hyperinflation.

The survey is performed in March and September every year, based on a basket of items such as rents and utility fees. Car prices and school fees are not included.

In Asia, Bangkok ranks 28th, just above Chiang Mai, according to the latest ECA International survey on the cost of living for expatriates. But it dropped out of the top 50 global rankings from the report released in December 2019. In global rankings, Bangkok is now at 60 and Chiang Mai at 142. Bangkok has lost a good deal of its former appeal for budget-conscious travellers and expatriates, rising 64 places over the past 5 years, according to the survey.

ECA says a rapidly expanding economy and increased foreign investment, at least, prior to the Covid-19 pandemic, made Thailand more expensive, fuelled by the strengthening baht.

“The baht has strengthened considerably, making the country more expensive for expatriates and tourists. However, this trend has slowed over the past year, partly in response to government attempts to weaken the baht in order to keep the country competitive.”

Hong Kong is the second most expensive city in Asia after Ashgabat (Turkmenistan), but ahead of Tokyo and Singapore. Singapore is rated the most expensive place for expats in Southeast Asia and has led that ranking for many years.

Hong Kong remains sixth in the global standings, 1 place ahead of the Japanese capital. Singapore was fourteenth in Asia, dropping 2 notches from the previous survey.

Ashgabat’s sudden rise to the top of the is largely attributable to the economic dilemmas of Turkmenistan’s government, according to ECA. The energy-rich Central Asian nation faces severe inflation, and a black market for foreign currencies has caused the cost of imports to rise. Both factors have sparked a large increase in the costs visitors pay.

The ECA says Chinese cities fell across the board due to signs of a weakening economy and poorly performing currency, even before Covid-19 began taking its toll.

SOURCE: Bangkok Post

 

Get more from The Thaiger

Join the conversation and have your say on Thailand news published on The Thaiger.

Thaiger Talk is our new Thaiger Community where you can join the discussion on everything happening in Thailand right now.

Please note that articles are not posted to the forum instantly and can take up to 20 min before being visible. Click for more information and the Thaiger Talk Guidelines.

4 Comments

4 Comments

  1. Simon

    Saturday, July 4, 2020 at 1:07 pm

    Bangkok, Phuket, Samui, Chiang Mai are, in some respects, more expensive the Hong Kong and Europe. For instance, one can buy a coffee or fast food for less in Hong Kong and Europe than any of these Thailand destinations.

    • June

      Wednesday, July 15, 2020 at 2:23 pm

      The thing is that, other than coffee, everything else is almost 6 times more expensive in Hongkong. Room rental for example.

  2. Henry Ford

    Sunday, July 5, 2020 at 8:56 am

    Did they mention wine, costs far more than in Europe. If you are an expat who likes wine stay away.

  3. Toby Andrews

    Monday, July 6, 2020 at 10:22 am

    A fifty percent Thai tax on imported western processed food does not help.
    Thai greed once again finds a way to make Thailand expensive for foreigners, along with much higher prices for foreigners to visit most Thai attractions.

You must be logged in to post a comment Login

Leave a Reply

Jack Burton is an American writer, broadcaster, linguist and journalist who has lived in Asia since 1987. A native of the state of Georgia, he attended the The University of Georgia's Henry Grady School of Journalism, which hands out journalism's prestigious Peabody Awards. His works have appeared in The China Post, The South China Morning Post, The International Herald Tribune and many magazines throughout Asia and the world. He is fluent in Mandarin and has appeared on television and radio for decades in Taiwan, Mainland China, Hong Kong and Macau.

Follow Thaiger by email:

Thailand49 mins ago

Cabinet seems to have ignored 4am nightlife proposal

Video2 hours ago

THAILAND NEWS TODAY | Korean woman arrested for 5-million-baht theft, 6-year overstay

Crime2 hours ago

Tuhao’s Chinese gang buys 50 homes in Bangkok luxury village with cash

Sponsored4 hours ago

Krungthong Plaza offers endless choices of well-selected plus-size fashion products

Road deaths2 hours ago

Bus flipped in Tak injuring 44 Burmese workers, killing 3

Thailand2 hours ago

3 men were arrested for stealing Thai Internet connection & World Cup betting in Cambodia

Pattaya2 hours ago

Intoxicated Pattaya woman left uninjured after overturning car

Join the conversation on the Thaiger Talk forums today!
Crime3 hours ago

Woman who allegedly scammed victims for over 30 million baht arrested in Pattaya

Bangkok3 hours ago

Bangkok BTS Skytrain fares to increase next year

Thailand3 hours ago

Police put brakes on car rental thief in Bangkok

World4 hours ago

New drug marks major milestone in slowing Alzhemier’s

World Cup4 hours ago

400 to 500 migrant workers in Qatar died due to World Cup, not 6,500

Visa5 hours ago

Thailand advises Indians to obtain visa prior to travelling to avoid long queues

Thailand5 hours ago

Driver furious with Bangkok shopping mall after foreigner accidently causes damage to her car

Politics5 hours ago

Iran promises Thailand it won’t attack Israeli tourists

Crime6 hours ago

Korean woman arrested for 5 million baht theft, 6-year overstay

Thailand1 year ago

Morning Top Stories Thailand | Police to end protests, Human Trafficking | September 14

Thailand2 years ago

Thailand News Today | Thai Airways in rehab, All go for Songkran | March 4

Tourism2 years ago

Phuket’s nightlife. Yes, bars and clubs are still open | VIDEO

Phuket2 years ago

Thailand News Today | Covid passport talks, Thai Airways heads to court | March 2

Tourism2 years ago

Phuket Thai food treats you need to try | VIDEO

Thailand2 years ago

Thailand News Today | Bars, pubs and restaurants ‘sort of’ back to normal | Feb 23

Tourism2 years ago

In search of Cat & Dog Cafés in Phuket Town | VIDEO

Thailand2 years ago

Thailand News Today | Gambling crackdown, Seafood market to reopen, Vlogger challenge | Jan 21

Thailand2 years ago

Thailand News Today | Covid testing for visas, Business impact, Vaccine approval | January 19

Thailand2 years ago

Thailand News Today | Weekend Bangkok bombs, Thailand fires, Covid update | January 18

Thailand2 years ago

Thailand News Today | Stray car on runway, Indonesian quake, 300 baht tourist fee | January 15

Thailand2 years ago

Thailand News Today | Governor off respirator, sex-trafficking arrest, condo prices falling | January 14

Thailand2 years ago

Thailand News Today | Chinese vaccine, Thailand ‘drug hub’, Covid update | January 13

Thailand2 years ago

Thailand News Today | Bangkok may ease restrictions, Phuket bar curfew, Vaccine roll out | January 12

Thailand2 years ago

Thailand News Today | Covid latest, Cockfights closed down, Bryde’s Whale beached | January 11

Trending