Bangkok ranks among the top 50 most expensive cities in the world.

Specifically, Bangkok has climbed 43 places compared to last year and 75 places in the past two years. Bangkok is now ranked 47th among the 50 most expensive cities in the world. Several other places in Thailand are also not an exception, notably Chiang Mai, which has rapidly risen 56 places in just one year.

ECA International noted: “Bangkok has long been considered a budget-friendly destination for tourists, but it has jumped to 47th place in the list of the 50 most expensive cities in the world, primarily due to the strong appreciation of the Thai baht.”

In the Asian rankings, Ashgabat, the capital of the Central Asian nation of Turkmenistan, takes first place for cost of living. The city has surged from 146th place in 2017, due to high inflation and a strong domestic currency. Second place remains in Tokyo, Japan, primarily due to the appreciation of the Yen against the USD. Following closely behind is Hong Kong, ranking third in Asia and sixth globally for expensive living. Singapore and Seoul, South Korea, rank seventh and eighth respectively, while Macau and Shanghai, China, are in ninth and tenth place.

Middle Eastern countries continue to see rising living costs due to the strong appreciation of their local currencies, which are heavily reliant on the US dollar. Tel Aviv, Israel, also entered the top 10 for the first time at number 9, and Jerusalem ranked 12th.

Aside from Swiss cities continuing to be among the top 10 most expensive places in the world, most European cities have dropped out of the rankings since 2018. Due to Brexit, London, the UK capital, fell to 140th place, its lowest ranking since the ECA began compiling cost-of-living rankings in 2005. New York, the US financial capital, entered the top 20 for the first time since 2015, rising to 15th place in 2018.

ECA International

ECA International - Employment Conditions Abroad International is a consulting organization that has been conducting cost of living research for over 45 years. Each year, ECA conducts two major surveys in March and September to help corporations and multinational companies factor the cost of living into their employee compensation systems.

My Tong