According to the latest Cost of Living survey by ECA International, Singapore has jumped 12 places to become the 19th most expensive location for expatriates globally.
Kuala Lumpur is ranked 46th most expensive cities for expatriates in Asia-Pacific and 189 globally, it said in a statement.
The world’s leading provider of knowledge, information and technology said to ensure that an employee’s spending power was maintained when they were sent on international assignment, a cost of living allowance was often provided as part of the pay package.
“This allowance will be affected by differences in inflation levels as well as exchange rate movements between an employee’s home and host country,” it said.
ECA International regional director – Asia, Lee Quane, said although like many currencies, the Singapore dollar has weakened against the US dollar between annual surveys, it strengthened against a number of other major currencies.
“Assignees having been relocated from one of these locations into Singapore are likely to require a higher cost of living allowance in order to maintain their spending power,” he said.
