Tag Archives: ECA International

Singapore 6th most expensive city in Asia

Posted on 11 Jun 2011 | Comments Off on Singapore 6th most expensive city in Asia

According to the latest cost of living survey from ECA International, Singapore is now the 6th most expensive city in Asia for expatriates to live in, up from its previous ranking of 9th spot. Singapore also rose to the 36th spot from 68th in the global ranking in one year.

The company, which provides solutions for firms sending their staff overseas, said the continued strength of the Singapore dollar against major currencies had pushed the republic up the global ranking.

ECA International also said prices of goods and services commonly purchased by international assignees have risen at much faster rates in Singapore than in other developed locations in the region.

It said such goods and services now cost almost 3% more in Singapore than in Hong Kong while just a year ago, the same would have cost 5% more in Hong Kong.

ECA International pointed out that Singapore is now more expensive for international assignees than Hong Kong, New York, Amsterdam, Frankfurt and Shanghai.

Meanwhile, Tokyo remains the most expensive city for international assignees.

Globally, Tokyo heads the top 10 list followed by Oslo, Nagoya, Stavanger in Norway, Yokohoma, Zurich, Angola’s capital Luanda, Geneva, Kobe and the Swiss capital of Bern.

The region’s top 10 most expensive cities are:
1) Tokyo
2) Nagoya
3) Yokohama
4) Kobe
5) Seoul
6) Singapore
7) Hong Kong
8) Beijing
9) Shanghai
10) Busan

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S’pore top city to live in for Asian expats

Posted on 25 Mar 2010 | Comments Off on S’pore top city to live in for Asian expats

Ranking makes city appealing to global firms wishing to bring in staff: ECA

SINGAPORE has emerged as the top place for Asian expatriates to live in for an 11th year running, according to global human resource consultancy ECA International.

High quality infrastructure, alongside low health risks, air pollution and crime rates, and a cosmopolitan population make Singapore the best city for Asian expats to relocate to, ECA says. Singapore came in first ahead of Sydney and Kobe, both of which retained their rankings from 2009 too.

Its annual location ratings report is intended to help global companies decide on ‘hardship allowances’ for expatriates, by analysing the quality of life for over 400 locations. The assessments take into account the home and destination countries of employees, which explains why while Singapore is top of the chart for Asian expats, it ranks 55th on the list for Western European ones. On that list, European cities dominate the top spots, but Singapore still ranks above Hong Kong, Tokyo and the major Chinese cities.

Lee Quane, Asia regional director of ECA, told BT that hardship allowances could come up to 20 per cent of an assignee’s base salary in less favourable locations.

Singapore’s emerging top on this survey thus bodes well for its cost attractiveness to global companies who wish to bring in staff from abroad. But these allowances are just one component of an expatriate’s overall compensation package.

In an ECA report comparing cities’ cost of living last December, Singapore climbed three spots to be the ninth most expensive Asian city for expatriates from all over.

Even then, Mr Quane said: ‘If you look at the wider picture, of the major cities in Asia – Singapore, Hong Kong, Shanghai, Beijing, Tokyo and Seoul – the cost to a company of sending an employee from elsewhere in Asia to Singapore would probably still be lowest.’

For instance, neither Hong Kong nor Singapore’s quality of living would warrant a ‘hardship allowance’ recommendation from ECA, but the cost of living in Hong Kong is still higher than in Singapore. This makes the overall compensation package for an Asian assignee sent here more cost competitive, he said.

Source : Business Times – 25 Mar 2010

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