According to the latest survey result published by ECA International with cost of living as a basis, Bangkok is already included in the list of the top 100 cities in the world which are considered to be most expensive by expatriate workers. This is the very first time that the country was included on the list and this is all thanks to the strong local currency, the growth of the economy and the politic-side which is more stable than before. This is also a feat considering that hotel room prices including convenient hotel in Sukhumvit are still deemed average priced compared to other major cities in the Southeast Asia region.
ECA International’s director in Asia, Lee Quane, said that in more than five years, Bangkok was able to crawl its way past more than 80 spots. Bangkok was able to bag the 90th place in terms of ranking for the highest cost of living. ECA International is responsible for providing information regarding international workers.
Quane added that in the past few years, Thai baht has picked up strength while its economy continues to grow. The political landscape is not bad either because it is as stable compared to a decade ago. The end result is that expat workers find that some Thai locations are more expensive for them to live in which is not the case in the past.
Every year, ECA International performs two separate cost of living study. As a comparison, they provide a basket of consumer goods that are commonly bought by expat workers from more than 450 different locations all over the world. Not included are the utilities, school fees, and accommodation rental as well as car purchases.
In Central Asia, the most expensive city according to the list is Ashgabat which is Turkmenistan’s capital. This is a far cry from its 146th spot last year because of the economic crisis it has to battle. The second most expensive city in the Asia region is Hong Kong while it took the sixth spot worldwide.
With Thailand now included on the list, businesses such as convenient hotel in Sukhumvit will have to decided whether they are going to cater to the high-end tourists or remain with quality but affordable hotel room rates as before.