Subscribe free to our newsletters via your
. GPS News .




TRADE WARS
Chinese cities becoming too costly for expats: survey
by Staff Writers
Singapore (AFP) Dec 12, 2012


Chinese cities now dominate the list of the most expensive places in Asia for expatriate residents due in part to a stronger local currency, a regional survey showed Wednesday.

Of the top 50 most expensive cities in the region, 16, or 32 percent, are from China, according to the survey by human resource firm ECA International.

Beijing is Asia's fifth most expensive city, coming after four Japanese cities and followed by Seoul. Last year Beijing was seventh.

Worldwide, the Chinese capital was in 22nd place, up from number 35.

Shanghai is Asia's seventh most expensive city, up a notch from last year. The financial centre is the 26th most expensive city worldwide, up sharply from number 41.

ECA carries out a survey twice a year by measuring a basket of common items purchased by expatriates in more than 400 locations globally, such as dairy produce, vegetables, clothing and meals out.

The survey does not include housing, utilities and car and school expenses as these items can make a significant difference to costs but are often compensated for in expatriate packages, ECA said.

ECA regional director Lee Quane said the cost of the basket of goods and services covered in the survey rose 5.0 percent this year in China, below the regional average of 6.5 percent but significantly higher than the 2.7 percent rise in Singapore.

"This, together with the fact that the renminbi (yuan) has strengthened against many currencies... is making Chinese locations increasingly expensive," Quane said in a statement.

"This could be stripping them of the competitive edge they once had over other locations in Asia as companies looking to set up in the region might think twice, now, about posting staff to China."

Hong Kong is Asia's ninth most expensive city, while other Chinese cities in the top 50 are Guangzhou, Shenzhen, Shenyang, Tianjin, Qingdao, Dalian, Chongqing, Suzhou, Chengdu, Wuhan, Xiamen, Najing, and Xi'an.

Tokyo remains the costliest place for expatriates in Asia and worldwide, followed by Nagoya on both counts.

Oslo is the second most expensive city worldwide, trailed by the Angolan capital Luanda, a hardship post for expatriates.

Singapore is the eighth most expensive city in Asia, falling from sixth place last year, and is the 31st worldwide.

Bangkok is the 28th costliest city in Asia, followed by Kuala Lumpur at 29th. Metropolitan Manila is in 32nd place in Asia while Hanoi is the 36th most expensive in the region.

.


Related Links
Global Trade News






Comment on this article via your Facebook, Yahoo, AOL, Hotmail login.

Share this article via these popular social media networks
del.icio.usdel.icio.us DiggDigg RedditReddit GoogleGoogle








TRADE WARS
Rio sells mine stake to China-S. Africa consortium
Sydney (AFP) Dec 12, 2012
Anglo-Australian mining giant Rio Tinto said Wednesday it had sold its majority stake in South African copper producer Palabora for US$373 million to Chinese and South African interests. A binding agreement had been reached to offload its 57.7 percent holding to a consortium led by South Africa's Industrial Development Corporation and Chinese state-run Hebei Iron and Steel Group, it announce ... read more


TRADE WARS
Antibiotic-eating bug unearthed in soil

Quantifying corn rootworm damage

Supporting Climate-Friendly Food Production

Typhoon reduces Philippine farmers to beggars

TRADE WARS
Tiny compound semiconductor transistor could challenge silicon's dominance

Berkeley Lab Breaks Ground on Flexible Design Building to Test Low-energy Systems and Components

DuPont Microcircuit Materials Introduces New Low Cost Conductive Inks for Printed Electronics

New '4-D' transistor is preview of future computers

TRADE WARS
Rockwell Collins wins Navy E-6b upgrade

Canada widens search for fighter jet beyond F-35

Brazil fighter deal seen to favor Boeing

US agency chief seeks to ease airplane electronics ban

TRADE WARS
Chinese firm to build electric cars in Bulgaria: report

Philippines gives green-light to electric tricycles

Apple Maps glitch could be deadly: Australian police

Japanese car sales in China rocket 72% in November

TRADE WARS
Chinese cities becoming too costly for expats: survey

Rio sells mine stake to China-S. Africa consortium

China to claim one-third of luxury market: survey

HSBC being punished for 'stunning failures': US

TRADE WARS
As Amazon urbanizes, rural fires burn unchecked

Global drive in support of Brazil's threatened Awa tribe

World's biggest, oldest trees are dying: research

'Come out of the forest' to save the trees

TRADE WARS
Wildfires Light Up Western Australia

Environmental satellite produces first photo of Earth

NASA-NOAA Satellite Reveals New Views of Earth at Night

Skybox Imaging Completes Significant Testing Milestone Preceding its First Satellite and Product Launch

TRADE WARS
Nature Materials Study: Boosting Heat Transfer With Nanoglue

New optical tweezers trap specimens just a few nanometers across

How 'transparent' is graphene?

A graphene nanotube hybrid




The content herein, unless otherwise known to be public domain, are Copyright 1995-2014 - Space Media Network. AFP, UPI and IANS news wire stories are copyright Agence France-Presse, United Press International and Indo-Asia News Service. ESA Portal Reports are copyright European Space Agency. All NASA sourced material is public domain. Additional copyrights may apply in whole or part to other bona fide parties. Advertising does not imply endorsement,agreement or approval of any opinions, statements or information provided by Space Media Network on any Web page published or hosted by Space Media Network. Privacy Statement