December 13, 2017

Yangon, a place of high cost of living


Yangon was ranked 67th at the list of the Cost of Living Ranking for 2017 according to the data provided by MERCER, the leading provider of data on cost of living and housing for employees. Last year, when the economic opportunities were blooming, MERCER’s 22nd Cost of Living 2016 showed that Myanmar stood at the 39th place and thus it can be said that the rank slid a little.
MERCER Global is the leading provider of data on cost of living and housing for employees sent to work abroad. As part of the ongoing research, MERCER produces these annual rankings of the cost of living in more than 200 of the most prevalent assignment destinations for expatriate employees. The rankings demonstrate how currency fluctuation and shifts in the prices of goods and services can affect the purchasing power of expatriate employees. Multinational companies rely on MERCER for timely and accurate information to compensate their skilled professionals who take on international assignments.
A housing estate developer in Hong Kong praised MERCER’s works as the most reliable data which ranks Luanda, the capital of Angola, top at the most expensive city list followed by Hong Kong, Tokyo, Zurich, Singapore, Seoul, Geneva, Shanghai, New York and Bern.
MERCER compiled the data by asking many people including entrepreneurs, experts and residents who have contacts with it. The data issued on 21 June described facts about over 200 cities and Myanmar stands at 67th place of 209 cities together with Bangkok of Thailand and Santiago of Chile.

 

By Thun Wathan

Translated by Wallace

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