Asia-Pacific Cost of Living – 2010

Asia-Pacific has the top 2, most expensive cities in the world as at 1 July 2010. Tokyo is first and Hong Kong the second most expensive location in the world (and most expensive in greater China), whilst Sydney is the third most expensive city in Asia-Pacific (ranked 13 in the world). The Australian economy has seen stable growth compared to many weakening economies, while the Australian Dollar has strengthened 11% against the United States Dollar, and by 24% against the Euro in the past year. Cities in mainland China remain relatively cheap, mainly due to the pegging of the Chinese Yuan to the US Dollar which has kept costs down. Within mainland China, Beijing (ranked 100 in the world) is the twentieth most expensive city in Asia-Pacific, followed by Shanghai (ranked 107 in the world), and Wuhan (ranked 200 in the world). The cheapest city surveyed in China is Tianjin (ranked 256 in the world) with a cost of living index of 64.07 (New York = 100). The cheapest city in Asia-Pacific is Dushanbe in Tajikistan (ranked 279 in the world) with a cost of living index of 56.64 (New York = 100).

Most expensive cities in Asia-Pacific (Global rank in brackets)
1. Japan, Tokyo (1)
2. China, Hong Kong (2)
3. Australia, Sydney (13)
4. Australia, Canberra (17)
5. Papua New Guinea, Port Moresby (23)
6. Vanuatu, Port Vila (26)
7. New Caledonia, Noumea (31)
8. Korea Republic of, Seoul (32)
9. Australia, Melbourne (37)
10. Australia, Perth (38)

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Kosovo, Pristina – Cost of Living

The economy of Kosovo is one of the poorest in Europe. Despite substantial development subsidies Kosovo was the poorest province of the former Yugoslavia. Over the course of the 1990s, poor economic policies, international sanctions, weak access to external trade and finance, and ethnic conflict severely damaged the already weak economy.

Pristina is the capital and largest city of the disputed territory of Kosovo. The city is developing with many new roads being built in Pristina. The national government is taking part in modernising the roadways as well, building motorways linking the city.

Pristina has an overall cost of living index which equates it with low cost of living locations. The overall cost of living index is comprised of the prices for defined quantities of the same goods and services across all 13 Basket Groups.

The latest cost of living rank for each of the 13 Basket Groups is now available.

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Korea Republic of, Seoul – Cost of Living

The economy of South Korea is a developed, largely free-market economy that is the fourth largest in Asia and 15th largest in the world. An extremely competitive education system and a highly skilled and motivated workforce are two key factors driving this knowledge economy that has the world’s highest scientific literacy and second highest mathematical literacy.

Seoul is the capital and largest city of South Korea. Seoul, is a major global city and a leading international financial centre in Asia. Although Seoul accounts for only 0.6 percent of South Korea’s land area, it generates 21 percent of the country’s entire GDP.

Seoul has an overall cost of living index which equates it with high cost of living locations. The overall cost of living index is comprised of the prices for defined quantities of the same goods and services across all 13 Basket Groups.

The latest cost of living rank for each of the 13 Basket Groups is now available.

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Korea Democratic Republic of, Pyongyang – Cost of Living

The economy of North Korea is an industrialised, highly centralized command economy. The role of market allocation is sharply limited – mainly in the rural sector where peasants sell produce from small private plots. There are almost no small businesses.

Pyongyang is the capital of North Korea. Pyongyang has been completely redesigned since the Korean War (1950?1953). It is designed with wide avenues, imposing monuments, and monolithic buildings. The city also has regular international train services to Beijing and Moscow. A journey to Beijing takes about 25 hours and 25 minutes; a journey to Moscow takes 6 days.

Pyongyang has an overall cost of living index which equates it with low cost of living locations. The overall cost of living index is comprised of the prices for defined quantities of the same goods and services across all 13 Basket Groups.

The latest cost of living rank for each of the 13 Basket Groups is now available.

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Kiribati, South Tarawa – Cost of Living

The eceonomy of the Republic of Kiribati’s is one of the poorest in the world. In one form or another, Kiribati gets a large portion of its income from abroad. Fishing fleets from South Korea, Japan, Taiwan, and the United States pay a licensing fee in order to operate in Kiribati’s territorial waters.

South Tarawa is the official capital of the Republic of Kiribati. Bairiki is a village and an islet now part of South Tarawa, and at one time itself the center of government (and therefore, capital) of Kiribati.

South Tarawa has an overall cost of living index which equates it with high cost of living locations. The overall cost of living index is comprised of the prices for defined quantities of the same goods and services across all 13 Basket Groups.

The latest cost of living rank for each of the 13 Basket Groups is now available.

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Kenya, Nairobi – Cost of Living

The economy of Kenya is market-based, with some state-owned infrastructure enterprises, and maintains a liberalized external trade system. The economy?s heavy dependence on rain-fed agriculture and the tourism sector leaves it vulnerable to cycles of boom and bust. The agricultural sector employs nearly 75 percent of the country’s 37 million people. Half of the sector?s output remains subsistence production.

Nairobi is the capital and largest city of Kenya. Nairobi is the regional headquarters of several international companies and organiations. Goods manufactured in Nairobi include clothing, textiles, building materials, processed foods, beverages, cigarettes.

Nairobi has an overall cost of living index which equates it with low cost of living locations. The overall cost of living index is comprised of the prices for defined quantities of the same goods and services across all 13 Basket Groups.

The latest cost of living rank for each of the 13 Basket Groups is now available.

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Kazakhstan, Almaty – Cost of Living

The economy of Kazakhstan is the largest economy in Central Asia. It possesses enormous fossil fuel reserves as well as minerals and metals. It also has considerable agricultural potential with its vast steppe lands accommodating both livestock and grain production, as well as developed space infrastructure, which took over all launches to the International Space Station from the Space Shuttle. Energy is the leading economic sector which includes the production of crude oil and natural gas condensate.

Almaty is the largest city in Kazakhstan. Almaty is the major commercial center of Kazakhstan.

Almaty has an overall cost of living index which equates it with middle cost of living locations. The overall cost of living index is comprised of the prices for defined quantities of the same goods and services across all 13 Basket Groups.

The latest cost of living rank for each of the 13 Basket Groups is now available.

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Jordan, Amman – Cost of Living

The economy of Jordan is small with limited natural resources, but has improved much since its inception as a country. Jordan’s economic resource base centers on phosphates, potash, and their fertilizer derivatives; tourism; overseas remittances; and foreign aid.

Amman is the capital and largest city of the Hashemite Kingdom of Jordan. Amman is the country’s political, cultural and commercial centre and one of the oldest continuously inhabited cities in the world. Amman is a regional hub in communications, transportation, medical tourism, education, and investment.

Amman has an overall cost of living index which equates it with low cost of living locations. The overall cost of living index is comprised of the prices for defined quantities of the same goods and services across all 13 Basket Groups.

The latest cost of living rank for each of the 13 Basket Groups is now available.

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Do Expatriates experience hardship?

Does an Expatriate and their family experience any hardship? First impressions can be misleading. Many Expatriates accept an overseas position with high expectations of a better quality life, luxury accommodation, and the excitement of new experiences.

 

The reality is that many Expatriates are disappointed with the reality versus the expectation of their living and working experience. Once they settle in to their new environment, hardship, over which they have very little control often appear. Hardship is the relative difference in the quality of living a person and their family will experience and the relative impact on their lifestyle when moving between different locations. Factors include-:

 

Economic Differences: Such as moving from a First-World location with little poverty and high levels of service provision to a Third-World location where poverty may be prevalent and services intermittent or unavailable

 

Political Differences: Such as moving from a liberal western life style where diverse views are tolerated to a highly regulated life style where conformity is expected

 

Religious Differences: Such as moving from an environment where your religion is dominant, to a location where your religion is potentially seen with suspicion

 

Public Service Differences: Such as moving from an environment where water, electricity, sanitation, work permits etc are easily accessible, fast and efficient to one where services are not reliable, where administration requires a great deal of your time in poorly maintained offices potentially exposed to corrupt officials

 

Environment/Climate Differences: Such as moving from a mild climate to one of extreme weather such as very hot or very cold locations

 

Personal Safety Differences: Such as moving from a safe secure environment where you can walk the streets in safety to an environment where you require security (armed response, expensive insurance, high walls electric fences etc) and where it may not be safe to walk outdoors alone

 

Health Differences: Such as moving from an environment where vaccines and health standards have eradicated most disease to an environment where health standards are poor, and life threatening viral outbreaks common

 

Education Differences: Such as moving from an environment where state education standards are high, pupils are taught in their mother-tongue, and schools are close to home to an environment where state school standards are poor and in a different language requiring attendance at an international school which can be expensive and require daily travel

 

Transportation Differences: Such as moving from a location where public transport is freely available and efficient, to a location where it is unreliable and may not be safe to use.

 

In assessing how much to pay an Expatriate, it is important to take into account the relative hardship, in terms of quality of living conditions between locations, and assesses the relative level of difficulty that will be experienced in adapting to a new location.

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Jersey, Saint Helier – Cost of Living

The economy of Jersey is largely driven by international financial services & legal services, which accounted for 53% of total GVA in 2007. Other sectors include construction, retail, agriculture, tourism and order fulfillment, such as internet based selling.

Saint Helier is one of the twelve parishes of Jersey and is the capital of the Island (although Government House is situated in St. Saviour). The urban area of the parish of St. Helier makes up most of the largest town in Jersey.

Saint Helier has an overall cost of living index which equates it with high cost of living locations. The overall cost of living index is comprised of the prices for defined quantities of the same goods and services across all 13 Basket Groups.

The latest cost of living rank for each of the 13 Basket Groups is now available.

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