Singapore
still world’s most expensive city for expatriates, says EIU
report
SINGAPORE: For the third year running, Singapore is the world’s
most expensive city in the world for expatriates, though Zurich and
Hong Kong are a very close joint second, according to the Economist
Intelligence Unit (EIU).
Singapore has a score of 116, just ahead of Zurich and Hong
Kong’s 114, in the EIU’s latest Worldwide Cost of Living report, a
twice-yearly survey that compares more than 400 individual prices
across 160 products and services.
These include food, drink, clothing, household supplies and
personal care items, home rents, transport, utility bills, private
schools, domestic help and recreational costs.
This survey allows human resource line managers and expatriate
executives to compare the cost of living in different countries
around the world. This, in turn, will allow hiring companies to
calculate a fair remuneration package for relocating employees.
Singapore, according to the EIU, is consistently expensive in
terms of buying and running a car. Transport costs in Singapore are
2.7 times higher than New York. It is also an expensive place to
buy clothes and pay for utilities.
However, in terms of basic groceries, Singapore offers the same
value as New York, unlike Seoul, which is 33 per cent more
expensive.
-TODAY/mz