The company, which provides solutions for firms sending their
staff overseas, said the continued strength of the Singapore dollar
against major currencies had pushed the republic up the global
ranking.
ECA International also said prices of goods and services
commonly purchased by international assignees have risen at much
faster rates in Singapore than in other developed locations in the
region.
It said such goods and services now cost almost 3% more in
Singapore than in Hong Kong while just a year ago, the same
would have cost 5% more in Hong Kong.
ECA International pointed out that Singapore is now more
expensive for international assignees than Hong Kong, New York,
Amsterdam, Frankfurt and Shanghai.
Meanwhile, Tokyo remains the most expensive city for
international assignees.
Globally, Tokyo heads the top 10 list followed by Oslo, Nagoya,
Stavanger in Norway, Yokohoma, Zurich, Angola’s capital Luanda,
Geneva, Kobe and the Swiss capital of Bern.
The region’s top 10 most expensive cities are:
1) Tokyo
2) Nagoya
3) Yokohama
4) Kobe
5) Seoul
6) Singapore
7) Hong Kong
8) Beijing
9) Shanghai
10) Busan