Asia Business Channel

Bangkok is Southeast Asia’s 2nd most expensive city to live in

According to a new ranking by cost of living comparison platform Numbeo.com, Bangkok has become the second most expensive city to live in within ASEAN, with Singapore being the most expensive. Other cities in Thailand were also high in the list including Pattaya (4th), Phuket (5th) and Chiang Mai (6th) aren’t far behind with Penang, Malaysia in 8th place and Kuala Lumpur, Malaysia in 9th place.

Yangon, Myanmar placed third and its high cost of living surprised researchers with it being more expensive than the popular destinations in Thailand. The cost of living in this ranking was calculated without rent costs (see table below for the rent cost index).

The cheapest cities in the cost of living index were Petaling Jaya, Malaysia (14th), Surabaya, Indonesia (15th), Cebu, Philippines (16th), Bandung, Indonesia (17th) and Davao, Philippines (18th).

The survey challenges Thailand’s goal of attracting more foreign retirees as even Chiang Mai, a popular choice for long-stay retirees, turns out to be considerably more expensive than cities in Malaysia, where rules for visa and land ownership are much more liberal.

The two most expensive cities in Southeast Asia as per numbers:

Singapore
Four-person family monthly costs:      $2,737 without rent.
Single person monthly costs: $764 without rent.
Cost of living rank:                              113th out of 438 cities in the world.
Singapore cost of living index: 69.38.

Bangkok
Four-person family monthly costs:       $2,420 without rent.
Single person monthly costs: $671 without rent.
Cost of living rank:                              212th out of 438 cities in the world.
Bangkok cost of living index: 56.60.

Following are Numbeo.com’s rankings of Asia’s top 20 cities

Bangkok2

 

 

UOB's head of group retail digital, Dennis Khoo said the app was created based on the understanding that millennials are doing things way differently compared to the previous generations. Through the TMRW app, the more money users save, the faster they level up in the mobile-only digital bank app. As users level up, they can unlock various game options.

Read 88