Manila 17th cheapest Asian city for expats: survey
By David Dizon, abs-cbnNEWS.com | 06/11/2009 6:12 PM
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Metro Manila is the 17th cheapest city for expatriates in Asia, according to a new cost-of-living survey released Thursday.
The survey, conducted by knowledge and solutions provider ECA International, said living in Metro Manila was cheaper compared to living in other key Asian cities such as Ho Chi Minh, Vietnam (18); Chiang Mai, Thailand (19); and Jakarta, Indonesia (20).
ECA carries out the cost-of-living survey twice a year by comparing a basket of commonly purchased consumer goods and services including clothing, groceries, fresh fruit and vegetables, tobacco and meals out. Certain living costs such as accommodation, utilities (electricity, gas, water costs), car purchase and school fees are not included in the survey.
The survey showed that Asian cities are among the most expensive in the world for expatriates this year as regional currencies have gained against the US dollar and other key units.
Luanda in Angola was named the most expensive city in the world for expats while four Japanese cities - Tokyo, Nagoya, Yokohama, Kobe - ranking 2nd to 5th on the list. Rounding out the top 10 most expensive cities worldwide are Copenhagen, Denmark (6); Oslo, Norway (7); Geneva (8); Zurich (9) and Basel, Switzerland (10).
"The strengthening of Asian currencies is the dominant factor contributing to the region being more expensive for visitors than it was 12 months ago," said Lee Quane, ECA International Regional Director- Asia.
"In that period, the yuan has continued to strengthen while the yen has appreciated by almost 8% against the US dollar. Many Western currencies, including sterling, the euro and the Swiss franc, have weakened. As a result, people coming from these economies into Asia will notice a considerable difference in costs compared with 12 months ago."
The Mongolian capital of Ulaanbaatar was named the cheapest for expats in a list of 51 Asian cities.
Other cheap cities in Asia are Islamabad, Pakistan (2), Karachi, Pakistan (4); Hyderabad, India (6); Bangalore, India (7) and Kuala Lumpur, Malaysia (14).
Last Monday, Manila was ranked 108th in the Economist Intelligence Unit's liveability poll, which ranks cities on five factors: health-care, stability, culture and environment, education and infrastructure. A total of 140 countries was included in the survey.
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