2009 Cost of Living Survey - Chiang Mai

The annual cost of living comparative survey has just been released by ECA (the worldwide leader in re-locating personel & staff around the globe).

The main variable in the 2009 charts versus the 2008 ones are the global effects of the current recession, which has further depressed major currencies such as the GBP£ & US$ against the Thai Baht, which has actually also increased slightly in strength over the last 12 months. The overall performance of the Thai Baht versus these two currencies is now in the region of +20%, affecting mainly property purchasing & the cost of living for ALL Western Expats!.

ECA’s cost of living data compares a basket of 125 consumer goods and services commonly purchased by international assignees in over 370 locations worldwide. The data is used by ECA clients to calculate cost of living allowances for assignees.

The survey covers:
Food: Groceries; dairy produce; meat and fish; fresh fruit and vegetables
Basic: Drink and tobacco; miscellaneous goods; services
General: Clothing; electrical goods; motoring; meals out

Not surprisingly the top 4 most expensive cities in Asia are all in Japan(Tokyo,Nagoya,Yokohama & Kobe), followed by the next 4 most expensive being in China(Beijing, Shanghai,Hong Kong & Shenzhen), completing the top 10 are Singapore & Taipei(Taiwan).

Bangkok is 28th most expensive & Chiang Mai is 33rd most expensive in Asia. In most expensive on a global scale out of 370 worldwide cities that make up the measure, Bangkok is 174th & Chiang Mai is 192nd.

So the major cities of Thailand are still comparatively speaking "good value" for Expat living, however the costs have crept up due to the diminishing value of both Sterling & the US Dollar rather than by the increase in prices caused by Thai inflation, this has had quite a profound effect on the purchasing of property in Thailand, which is currently completely in the doldrums.