Singapore is now one of the top 10 most expensive Asian cities for expatriates to live in due to the strengthening of the Singdollar.
A survey by human resource consultancy ECA International showed that Singapore now has the ninth highest cost of living in the region.
Last year, the city-state was in the twelfth place.
ECA International said the cost of living for visitors to Singapore is also catching up with that of its neighbours.
A year ago, living costs in Singapore were about 15 per cent lower than in Hong Kong. Now, the difference is just seven per cent.
ECA International’s Regional Director for Asia, Lee Quane, said the increase in living cost is unlikely to deter firms from relocating their staff here.
Tokyo maintained its position as the most expensive location for expatriates to live in, as the stronger yen outweighed the impact of deflation in Japan.
Source : Channel NewsAsia – 2 Dec 2009