MANY of the most expensive cities to live in Asia are in East Asia, according to price aggregation website Numbeo’s Cost of Living Index 2018.

boats vietnamboats vietnam

#VIETNAM

Vietnamese cities among world’s top 100 foreign tourist destinations

Indices in the open access Index are listed relative to New York City (100.00), meaning that if a city has Restaurant Index score of 70, it is 30 percent cheaper to eat out there than in the Big Apple. Data about prices is crowdsourced and released quarterly by Numbeo.

Its Index unsurprisingly reflected a strong correlation between levels of economic development and cost of living, with the urban centres of Asia’s wealthier countries being the priciest.

Conversely, most of the region’s cheapest places to live were overwhelmingly situated in the less developed South Asian nations of India, Pakistan and Sri Lanka.

1. Kyoto, Japan

Kyoto

Source: Sorasak/Unsplash

The listings found Kyoto to be the only city in Asia which is overall more expensive to live than New York.

While rent was significantly cheaper, the Groceries Index in Kyoto was listed at 118.44, meaning that overall it is more expensive at the checkout than NYC. Rent, however, is apparently a steal at 75 percent cheaper.

2. Tokyo, Japan

Tokyo

Source: Riccardo Chiarini/Unsplash

Japan’s capital and the largest city on the planet is also the second most expensive town to live in Asia, according to the Index.

Nevertheless, what the average wage-earner can buy for their yen in Tokyo is better than in NYC, with a Local Purchasing Power Index of 106.42.

3. Singapore

Singapore

Source: Igor Ovsyannykov/Unsplash

The “Little Red Dot” is no stranger to international recognition, however, with great economic success comes great cost of living. The financial powerhouse came in as the third most expensive place to live in Asia.

Still, eating out in Singapore was more than 40 percent cheaper than in New York, while the city-state was listed as having a Rent Index of just 37.07.

#CHINA

All 10 of the world’s fastest-growing tourist cities are in Asia

4. Seoul, South Korea

Seoul

Source: Jenny Kim/Unsplash

South Korea’s megacity capital of more than 25 million came in fourth place, where the cost of living is comparable to Helsinki or Boston, according to the Index.

Groceries are at least seven percent more expensive for those living in Seoul than for New Yorkers, but their Local Purchasing Power was about eight percent better.

5. Hong Kong

Hong Kong

Source: Redd Angelo/Unsplash

Infamously expensive for its high wages and lack of land, Hong Kong came in at number five.

Eating out was relatively affordable, however, with a Restaurant Price Index of 56.17, while rent was still listed as being around 20 percent cheaper in HK than in NYC.

#ASIA

Canberra makes surprise entry into Lonely Planet top cities for 2018

6. Osaka, Japan

Osaka

Source: Julina Rashid/Unsplash

Japan’s second-largest metropolitan area was also named as one of the most expensive in Asia. Along with Paris and London, the city has one of the most productive hinterlands in the world.

Rent is a whopping 75 percent cheaper than in New York and the Local Purchasing Power Index was 109, meaning more bang for your buck.

7. Taipei, Taiwan

Source: Thomas Tucker/Unsplash

The capital of the Republic of China, Taipei, came in at seventh place. Things like rent and groceries in the gleaming metropolis of almost nine million were cheaper than in New York.

What’s more, like their counterparts in Tokyo and Seoul, the Local Purchasing Power Index showed Taipei residents to be around five percent better off than New Yorkers.

This article originally appeared on our sister site Asian Correspondent.

The post These are the most expensive cities to live in Asia appeared first on Travel Wire Asia.


cheap bali packages, bali holidays packages, bali trip packages, angkor wat tour package, ho chi minh city tour package, siem reap holiday packages, hanoi and halong bay tour package, ubud package holidays
Provider of online holiday packages, offering great service and various packages with special discounted rates. More than 15 years operating in accordance with the highest ethical and business standards.

 

Related Post

Leave a comment

Your email address will not be published. Required fields are marked *