| | | |  | | | Singapore skyline | | | | | | | SINGAPORE : Singapore has a lower cost of living than most major cities worldwide, making it an attractive location for expatriates..
This is according to a survey by ECA International, which compares a basket of goods and services purchased by expatriates in over 250 cities.
In the survey, Singapore ranks 10th on the list of most expensive cities to live in Asia, and 132nd worldwide.
The most expensive cities in Asia are Seoul and Tokyo, where living costs are over 50% higher than in Singapore.
And when compared to Singapore, goods and services in Hong Kong are 15% more expensive, while those in Beijing are pricier by 5%.
According to the survey, cost of living for expatriates in Singapore increased by less than 1% year-on-year, due to moderate inflation and a stable currency.
Coupled with a favourable tax regime and a high standard of living, ECA International concludes that the low cost of living gives the island-state an edge in attracting foreign talent.
But it warns that a strengthening of the Singapore dollar in the long term may erode the competitive edge. - CNA /ls |
