SINGAPORE - Singapore has fallen two places over the past 12 months to be the 14th most expensive city in the world for expatriates and it is now the seventh priciest in Asia, according to a new survey.
Mr Lee Quane, its director for Asia, noted that there was only a"small drop in the global rankings amid the uncertainty" despite Hong Kong's political and social unrest over the course of 2019 and the"impact of Covid-19, which has led to the reluctance of people moving to the city". Take a cup of coffee in a cafe: It's about US$4.44 here compared with US$5.01 in Hong Kong and US$2.87 in Hanoi.
Mr Quane said:"Chinese cities have all fallen ... due to signs of a weakening economy and poorly performing currency. Mr Quane noted:"A quick lockdown, coupled with the high rates of infection that Korean cities saw towards the end of February, meant that confidence in the South Korean won had faltered." This in turns makes the cost of living cheaper for expatriates.
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