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2014 Annual Indices for Expatriates and Ordinary Residents on Cost of Living, Wages and Purchasing Power for World's Major Cities

Author

Listed:
  • Khee Giap Tan

    (Asia Competitiveness Institute, Lee Kuan Yew School of Public Policy, NUS, Singapore)

  • Kong Yam Tan

    (Asia Competitiveness Institute, Lee Kuan Yew School of Public Policy, NUS, Singapore)

  • Randong Yuan

    (Asia Competitiveness Institute, Lee Kuan Yew School of Public Policy, NUS, Singapore)

  • Le Phuong Anh Nguyen

    (Asia Competitiveness Institute, Lee Kuan Yew School of Public Policy, NUS, Singapore)

Abstract

There has been broad-base growth in wealth for cities all over the world, albeit increasingly unequal within and across cities. Some cities tend to grow faster than others, especially those emerging cities in Asia. We tend to observe longer periods of economic expansions compared to downturns with increasing volatility due to external shocks as cities are also increasingly open and interconnected. Such volatility would mean a less stable macroeconomic environment for cities causing fluctuations in prices and unemployment, as well as shares between private and public consumption. Cost of living, wages and purchasing power therefore become important key benchmark indicators to track and monitor the basic living standard for cities, not just by employers and employees; they matter even more for policymakers, multinational corporations and government of the day, politically. This book is thus a valuable compendium studies on 109 major cities around the world whereby the cost of living, wage and purchasing power indices were tracked and monitored, for both average residents and expatriates, which tend to be vastly different. Annual Indices for Average Residents and Expatriates is currently the only publication that provides comparable data on cost of living across cities for both average residents and expatriates. Cost of living analysis on the latter, widely available in published works, is often mistaken or confused as on the former! This book provides a tool to analyse questions of the differences in the cost of living in cities across the globe between ordinary city dwellers and professionals who work abroad.

Suggested Citation

  • Khee Giap Tan & Kong Yam Tan & Randong Yuan & Le Phuong Anh Nguyen, 2016. "2014 Annual Indices for Expatriates and Ordinary Residents on Cost of Living, Wages and Purchasing Power for World's Major Cities," World Scientific Books, World Scientific Publishing Co. Pte. Ltd., number 9087, August.
  • Handle: RePEc:wsi:wsbook:9087
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    More about this item

    Keywords

    Cost of Living; Purchasing Power; Residents; Expatriates; Wages Index;

    JEL classification:

    • E23 - Macroeconomics and Monetary Economics - - Consumption, Saving, Production, Employment, and Investment - - - Production
    • E31 - Macroeconomics and Monetary Economics - - Prices, Business Fluctuations, and Cycles - - - Price Level; Inflation; Deflation

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