ECA's recently published location ratings show the impact of war and pandemic restrictions on the wellbeing of expatriates and their location allowances.
The ringgit's weakness against the US dollar has offset the impact of inflation in Kuala Lumpur, causing it to drop in the global rankings.
Singapore rose four places from last year to become the 8th most expensive location in the world for expatriates, driven primarily by surging accommodation costs.
Hong Kong is the second most expensive location in the world for expatriates
Rental prices are increasing in different markets around the world. Based on our latest Accommodation Survey, we've looked at recent trends, focusing on locations with some of the biggest increases and the factors at play.
There are always a handful of locations with hot housing rental markets, but this year has been hotter than usual with big increases on both sides of the Atlantic.
Expat salary and benefits packages in Singapore rose by a modest 4% in 2021 in local currency terms despite the city’s fall to 22nd place in the rankings of the costliest places to employ expatriates globally.
Expat pay and benefits packages in Hong Kong rose by a modest USD 3 800 in 2021, to a total of USD 283 000, a rate of growth which was amongst the lowest of all locations in Asia.
With inflation on the rise in countries around the world, it is increasingly important that global mobility managers and assignees understand how rising prices impact pay.
Assignment management software can be a key enabler for GM teams to rise to the challenges posed by ever-increasing compliance demands.