2016 Annual Indices For Expatriates And Ordinary Residents On Cost Of Living, Wages And Purchasing Power For World's Major Cities

Book excerpt: As cities continue to play an increasingly significant role in driving economic growth in many countries, competition among cities have shifted from the national level to the global arena. In this context, international benchmarks for cities are vital for businesses and individuals to make informed decisions. In particular, cost of living, wages and purchasing power are of great interest to employees, employers, multinational corporations and policy-makers as basic indicators tracking urban living standards.This publication by the Asia Competitiveness Institute (ACI) provides annual indices and rankings for cost of living for expatriates as well as indices and rankings for cost of living, wages and purchasing power for ordinary residents in 103 global cities since 2005. The ACI's study reflects salient differences in costs of living for expatriate and ordinary urban dwellers which arise from variations in their lifestyles and consumption preferences. This is of critical significance as cost of living for the former is usually conflated as that for the latter by the general public. In this book, we also delve into the analysis of the nexus between liveability, cost of living and purchasing power. We outline the trends and patterns of these benchmarks and explore if there are trade-offs between liveability and affordability. The ACI's study has received considerable interest from reputable media outlets such as the British Broadcasting Corporation (BBC) and the Edge Malaysia.