Singapore up two ranks to become 12th most expensive location globally

The majority of the locations on the list are Asian cities. 

Research published by ECA International found that Singapore is the 12th most expensive location globally for overseas workers.

The Lion City also found itself amongst the top ten Asia rankings for the same criteria at the seventh place. 

“Singapore has witnessed relatively high rates of inflation in the past year when measured by our basket of goods. Inflation in day-to-day items has been accompanied by relatively high rates of growth in the costs of rental accommodation. This contributed to Singapore’s rise of two places in the rankings along with the relative strength of the Singapore dollar against the yen and US dollar,” said Lee Quane, Regional Director, Asia, ECA International. 

Topping the global ranking is Hong Kong.

Other Asian cities joining the global list are Tokyo (third), Tel Aviv (fifth), Seoul (eighth), Shanghai (ninth), Guangzhou (10th), Shenzhen (11th), Beijing (15th), Yokohama (16th), and Taipei (19th).