Jun. 16 – Shanghai has dropped 18 places to 46 in this year’s ECA International’s world’s most expensive city to live in survey.
According to ECA’s global ranking, Beijing fell 29 spots to 55, while Tokyo claimed the top spot as most expensive city to live in.
The falling of Chinese cities on the list is attributed to the pegging of the Chinese RMB to the weakened U.S. dollar.
ECA’s survey is based on the cost of living in cities across the world compared to a basket of consumer items and services consumed by expatriates working in more than 370 locations globally. These items include daily food products and general needs items.
Other Asian cities in the top 50 included Nagoya (4th), Yokohama (5th) and Seoul (20th).
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The Asia Comparator
@Chris
is it only just bcoz of the falling dollar or also due to reduction in demand for housing, transport, food, etc? i mean bcoz of the job loss scenario…
sincerely
Sai
Mainly the dollar position but also some impact from redundancies and so on. Conversely however property prices have been rising and are still a cause for local concern – young families increasingly having to live with their parents in law rather than buy their own place. Shanghai is still pricey. – Thanks Chris