Whether you are planning to move to Singapore or you have already settled there, the cost of living will definitely be one of your major concerns.
According to ECA International report on the cost of living, Singapore remains one of the most expensive destinations for expatriates in 2016. Published on Wednesday 8 June, this report has assessed not less than 450 cities worldwide and reveals that Singapore has climbed 13 places over the last five years. Many other Asian cities now lag behind.
The survey took into account several criteria such as the price of food, basic amenities, as well as clothing, outings and eating out, consumption of alcohol and tobacco, among others. However, some costs such as rent, charges and school fees are not included as these are compensated otherwise, that is through expat packages. In fact, according to ECA International, expats are generally entitled to a cost of living allowance so that their purchasing power is not compromised.
In the case of Singapore, despite the low inflation during the last 12 months, a stronger currency against the Australian dollar and slightly higher inflation rate for international assignees for the same period propelled the City-State before several Australian and European cities having experienced lower inflation rates and the depreciation of their currencies.
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