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Survey highlights the rising cost of living for expats in Bangkok and Chiang Mai

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Survey highlights the rising cost of living for expats in Bangkok and Chiang Mai

 

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A new survey has highlighted the increasing cost of living in two of Thailand’s most popular expat destinations.

 

According to a cost of living survey published this week, Bangkok and Chiang Mai have made significant jumps when it comes to costly locations for expats to live. 

 

According to the survey, Bangkok has left behind its status as an affordable destination for expats and for the first time, is now among the top 50 most expensive cities in the world.

 

Bangkok leapt 43 places in the last year, and a total of 75 places in the last two years, to rank 47th overall in the 2019 survey. 

 

It was a similar story for Chiang Mai, which has moved up 56 places since 2017.

 

“Bangkok, long seen as a cheap destination for holidaymakers and expatriates alike, has seen a huge jump in its rankings, moving the most out of all Asian cities surveyed. This is largely the consequence of a strong Thai baht” said Lee Quane, regional director – Asia for ECA International.

 

“We have seen Thai cities moving significantly up the rankings over the past few years; Bangkok has moved up 75 places in the last two years alone and Chiang Mai has moved up 56 places in the same period,” he added 

ECA’s Cost of Living survey looks into the varying levels of household expenses in cities around the globe.

 

It does so by comparing a basket of like-for-like consumer goods and services in 475 worldwide locations. Living costs such as rental accommodation, school fees and car purchases are not factored into the survey.

 

The data is then used by companies to help calculate cost of living allowances for their employees so that their spending power is protected while working overseas. 

 

ECA, which has been running the survey for the past 45 years, said that the strong baht was the main reason for the rise in the list for both Bangkok and Chiang Mai.

 

Source: ECA International

 

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-- © Copyright Thai Visa News 2019-12-15
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2 hours ago, harada said:

Ironically I was only discussing this situation in Chiang Mai last night, the guest house that we have stayed in when flying in and out of Thailand over the last twenty years has charger 600-650 baht for the last 10 years when the Aus dollar was at 25-30 baht,it's now 900 baht and the Aus dollar is at 21-23 Baht and sadly the owners are trying to sell because of the low occupancy rates, but I guess as long as the elite are benefiting from the strong baht nothing will change.

 

no need to sell just up price to 1200 per night. won't need as many cleaners either. win win!

 

Thailand for the few not the many!!

 

 

 

Edited by GeorgeCross
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The Government's 20 year plan is enshrined in the current constitution.

 

One of the requirements for it to succeed is massive domestic and foreign investment over a number of years in the Eastern Economic Corridor.

 

These constitutional clauses will keep the Baht strong unless one of two things happens:

A complete economic collapse similar to '97 (highly unlikely given fiscal controls are better now and more refined).

A revolution that overthrows the military and other institutions, rips up the constitution and starts again (highly unlikely yet again).

 

Changing government will not be enough as the 20-year plan must be followed and the military will step in again if there's any attempt to thwart it.

 

Thailand is still developing and is still an attractive place due to its location, infrastructure and workforce.

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3 hours ago, Chazar said:

good  time  to  increase  the  800-400k  requirements  then.............coming  soon  from  a dicktator  near u

 They don’t need to, do they? The financial markets are doing it for them with the strong baht.

 

when I first came to Thailand I got 50 baht to the pound so 800,000 was worth £16,000

 

Last Friday night, 800,000 would cost you around £20,000.

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2 hours ago, Scot123 said:

You just can't help it can you? Nasty, twisted hater. You are either seriously under educated or blinded by hate for a man doing great things for his country. The Baht over value has nothing to do with America or China. Try doing some real research and open your eyes to exactly what is going on. 

I even support Trump matey! But it is what it is, because of his tradewar the chinese can see their crisis coming and started parking their money overseas....Or how would you explain this rise of the baht???

 

It seems you know a lot about it, so please enlighten me/us...what caused the high rise of the thai baht?? Who bought them?

 

 

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Well, apart from boozing I would say Bangkok is still very affordable providing you earn a reasonable salary.

 

We went out for dinner and to the cinema last night and it was about 1300THB. That would have cost around 2500THB in England. At the supermarket today we spent 1700THB for this week's food. Again, that would have been easily more in England. On an average Mon - Fri going to work and home I spend 500THB for the week. You would never be able to spend just over a tenner for a weekly commute unless you lived next to your work. 

 

The only reason a lot of people are moaning nowadays is because their pensions aren't going as far as they used to due to the currency rates. If you're here as an expat that is living and working with a good income it still provides an excellent lifestyle and is by no means expensive. 

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1 hour ago, Thian said:

I even support Trump matey! But it is what it is, because of his tradewar the chinese can see their crisis coming and started parking their money overseas....Or how would you explain this rise of the baht???

 

It seems you know a lot about it, so please enlighten me/us...what caused the high rise of the thai baht?? Who bought them?

As Scot123 said, do some research before you make a statement unless of course it’s just for our entertainment purposes. There are countless financial articles on the reasons behind the baht’s rise and it will continue to do so regardless of trade. 

1 hour ago, Thian said:

 

 

 

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