A comparative study of 226 cities worldwide by Mercer has ranked Bangkok as the third most expensive city in Southeast Asia for international workers. The analysis compares prices for more than 200 types of goods and services, ranging from basic necessities to leisure activities.
Although Bangkok remains one of the most expensive cities in Southeast Asia for expatriates, it has seen a significant drop in its ranking on the list of the world's most expensive cities. Bangkok currently ranks 129th in the world, down 24 places from last year.
On a global scale, Singapore and Hong Kong dominate the list of most expensive cities, followed by Zurich. In the Southeast Asia region, Phnom Penh, Bangkok, Manila and Jakarta rank below Singapore in terms of cost. The list continues with Manila, Jakarta, Hanoi, Bandar Seri Begawan, Kuala Lumpur and Vientiane.
Mercer's study shows that various factors, from inflation to political conflict, have made the cost of living in major cities increasingly expensive. This has particularly affected expatriate workers, who must adjust to the changing cost of living in their host countries.
The cost-of-living crisis has had a significant impact on organizations, particularly in terms of recruiting and retaining talent. Mercer advises companies to be proactive in addressing the challenges of the cost of living crisis. By understanding cost of living and inflation trends in different locations, organizations can take innovative steps to maintain employee well-being and ensure smooth business operations.
