Hanoi, Saigon among 49 most costly places for expats in Asia

 

ECA's Cost of Living Survey is carried out regularly in over 400 locations worldwide each March and September. This survey evaluates the cost of living in each area by examining a basket of common items purchased by expatriates, including dairy products, vegetables, clothing, and dining out. It is important to note that housing, utilities, car expenses, and school fees are not factored into this survey. 

 

 

Sweets, one of the products experiencing the highest price increases during Tet celebrations

 

Japan maintains its reputation as one of the world's most expensive countries, with four cities holding the top four spots in Asia. Tokyo is ranked first, followed by Nagoya, Yokohama, and Kobe. The top 10 most expensive cities in Asia also includes Seoul, Singapore, Beijing, Shanghai, Hong Kong, and Busan. 

 

The survey indicates a significant rise in food, oil, and other commodity prices in numerous regions globally over the past year. This has resulted in an average increase of living costs in Asian cities of over 8%, with increases of up to 15% in Bangladesh, 14.2% in Vietnam, and 13.3% in India. With Tet Holiday approaching in Vietnam, a slight rise in the price of commodities is expected, following traditional trends. 

 

 

Vietnamese rush for Tet shopping

 

Despite the average 8% increase in living costs, Asia continues to be viewed as an attractive destination for many foreign tourists and investors. “People still want to relocate here, and companies are eager to expand their operations in the region,” stated Lee Quane, ECA International's regional director for Asia.