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Salaries for workers in Hong Kong are forecast to increase by 3.2% on average next year, 0.7% higher than in 2021.
Employees based in Singapore are expected to see a salary increase of 3.5% next year, up from 2.8% this year.
Driven by lower cost of benefits and a dip in salaries, the overall cost of employing a mid-level expatriate worker in Singapore has dropped by USD 7 284.
The overall cost of employing a mid-level expatriate worker in Hong Kong dropped by USD 5 067 in 2020.
ECA International announces a significant financial investment in Tracker Software Technologies (TST).
Strength of euro and GBP causes many European locations to jump in ECA International’s Cost of Living ranking.
Singapore is now the 8th most expensive location for expatriates in Asia, and 13th place globally.
Hong Kong retains position as most expensive location for overseas workers to live and work.
Rental prices in London’s prime locations set to fall, as remote working reduced property demand according to latest rental accommodation report.
The impact of Covid-19 on business travel and overseas assignments has caused monthly rents in Singapore to drop by an average of 2.0% for overseas workers.