Updated data on the affordability of the world’s cities is in, and Bangkok is now significantly cheaper for expats to live.
The capital city plummeted 22 places to rank No. 88 on this year’s list by Mercer LLC, which ranks costs of living in 211 cities across five continents.
“Rankings in many regions were affected by recent world events, including economic and political upheavals, which resulted in currency fluctuations, cost inflation for goods and services, and volatility in accommodation prices,” said Mercer’s Ed Hannibal.
Rankings are determined based on comparative costs of items including housing, transportation, food, clothing, household goods and entertainment.
Mercer, an U.S.-based consulting firm, ranks cities against New York and measures currency fluctuations against the U.S. dollar.
Bangkok’s significant drop in capital could be attributed to the baht’s depreciation against the dollar as well as political instability, Bangkok Post reports, which has made accommodation easier to acquire.
Four of the top 10 cities in the 2014 list are in Asia, with Hong Kong leading the pack at third place, followed by Singapore at No. 4, Tokyo at No. 7 and No. 10 Shanghai.
What’s the least expensive Asian city for expats? Phnom Penh, Cambodia, was No. 169 on the list.
Photo: zenowai
