The annual Mercer survey of living costs for expats in 143 ‘world cities’ finds Hanoi and Ho Chi Minh City surprisingly expensive.
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Dethroning Moscow, Tokyo and Osaka, Japan reclaimed the top spots in the annual expat living costs survey conducted by Mercer, a multinational human resources firm. The company’s 2009 survey was released on July 7 and registers currency fluctuations and dollar strengthening impacts of the global economic crisis.
The Mercer survey compares the cost of over 200 items in each of 143 ‘world cities,’ including rental housing, transport, international schools, a Westerm diet, clothing, medical care, household goods and entertainment. Emphasis is on consumption of ‘international brands’ where they are available.
In Southeast Asia, Hong Kong is #5 in the 2009 report, Singapore #10, Shanghai #12, Guangzhou #23. Then, considerably down the list at #58, Mercer reports that it costs a generic expat as much to live in Hanoi as it does in Hamburg, Cairo, Taiwan or Boston. Just as in last year’s report, Mercer finds that it’s a little cheaper in HCMC, which at #69, ranks just behind Sydney, Washington and Mumbai. Then it is a long way down to other Southeast Asian capitals. KL’s at #96 and Bangkok at #98, bracketing Cleveland, Ohio, USA, #97. Jakarta’s at #106 and Manila is way down in 126th position.
Expressing the cost data another way, Mercer calculates that an expat living in Hanoi will spend only 77% of what he’ll need to spend to live comfortably in New York City, #8. If the expat moves to Saigon, he’ll gain another two percent on NYC.
The Mercer ratings are used by governments and multinational companies not only to decide how much to pay expat staff stationed in these various cities but also (at least in the case of companies) whether to send the staff at all. So in that regard, it’s not good economic news for Hanoi and HCMC to learn that expat living here costs somewhat more than in Bangkok, Jakarta or KL.
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