Yangon moves up expensive ranking
18 July 2012 17:20
Yangon is ranked as no.35 the world’s most expensive city for expatriates according to Mercer’s Cost of Living Survey website.
Yangon, the most populated and business city of Myanmar, was in the place of 159 in 2010 survey and jumped a very significant 70th position in 2011 continuously.Mercer's Cost of Living rankings are released annually and measure the comparative cost of living for expatriates in 214 major cities. The cost of over 200 items is compared in each location, including housing, transport, food, clothing, household goods and entertainment. New York City is used as the base city for the rankings and the US dollar as the base currency.
As of 2012 March, Yangon has passed the some world famous cities including Milan, Rome, Madrid, Barcelona, Vienna, Berlin and Dubai. It is now 10 places from London and 2 places from New York. The survey was released on June 2012. It is even getting higher rank among south Asian cities and some Chinese cities.
Tokyo is the world’s most expensive city for expatriates. Singapore is taking 8th place in 2011 to 6th in 2012. In top 50 cities list, there are only 11 Asian cities including Myanmar.
“Actually, the survey was measured the cost of living for a foreign investor to stay in Yangon,” said Deputy Director General Dr. Wah Wah Maung of Project Appraisal and Progress Reporting of the Ministry of National Planning and Economic Development.
She analyzed that living expenses are higher than the food in Yangon. It is even higher than some other countries. It is the reason Yangon was obtained the higher rank each year.
In the rise of cost of living, citizens should be getting paid enough to live. In order to do that, there should be creations of considerable job opportunities across the country. Decent Pay is another fact to balance the cost of living. Everyone’s average income should be calculating base on the house whole and not individual. For example, GDP of Myanmar is considered an indicator of a country's standard of living which is often used as such an indicator, on the rationale that all citizens would benefit from their country's increased economic production. Similarly, GDP per capita is not a measure of personal income.
“A Scaffolding painter earns Ks 6,000 daily and an experience painter Ks 4,500 and Ks 3,500 for the beginner. After deduction, a painter earns average of Ks 2,500 daily. However, we wish that there is a regular job to do daily. If not, we have to wait for new jobs” said a painter.
“I am a company staff and earn salary of Ks 138,000. The living expense is at least Ks 80,000 per month even sharing a room with friends, said a company staff.
“I earn Ks 70,000, daily expense is Ks1, 400,” said a sales girl of Dagon Center.
The high cost of living effects to people who live in Yangon by paying double price on rents, transportation fees and utilities. Every citizen deserve t earn the proper wages and should have considerable job to be working practically.
Ref:elevenmyanmar
Cost of Living Comparison Between Singapore and Yangon
| Indexes Difference |  |
|---|---|
| Not enough data to calculate difference in Consumer Prices | |
| Not enough data to calculate difference in Consumer Prices Including Rent | |
| Rent Prices in Yangon are 80.03% lower than in Singapore | |
| Restaurant Prices in Yangon are 61.12% lower than in Singapore | |
| Groceries Prices in Yangon are 30.41% lower than in Singapore | |
| Not enough data to calculate difference in Local Purchasing Power | |
| Singapore | Yangon | Difference | |
| Restaurants | [Edit] | [Edit] | |
| Meal, Inexpensive Restaurant | 10.00 S$ | 4.09 S$ | -59.11 % |
| Meal for 2, Mid-range Restaurant, Three-course | 50.00 S$ | 17.32 S$ | -65.37 % |
| Combo Meal at McDonalds or Similar | 7.00 S$ | 5.57 S$ | -20.49 % |
| Domestic Beer (0.5 liter draught) | 6.00 S$ | 1.18 S$ | -80.25 % |
| Imported Beer (0.33 liter bottle) | 8.00 S$ | 1.24 S$ | -84.54 % |
| Cappuccino (regular) | 5.00 S$ | 1.86 S$ | -62.89 % |
| Coke/Pepsi (0.33 liter bottle) | 1.50 S$ | 1.19 S$ | -20.43 % |
| Water (0.33 liter bottle) | 1.00 S$ | 0.37 S$ | -62.89 % |
| Markets | [Edit] | [Edit] | |
| Milk (regular), 1 liter | 2.75 S$ | 2.16 S$ | -21.55 % |
| Loaf of Fresh White Bread (500g) | 2.00 S$ | 1.43 S$ | -28.39 % |
| Rice (1kg) | 4.00 S$ | 0.53 S$ | -86.70 % |
| Eggs (12) | 2.50 S$ | 1.70 S$ | -32.03 % |
| Local Cheese (1kg) | 14.50 S$ | 14.93 S$ | +2.96 % |
| Chicken Breasts (Boneless, Skinless), (1kg) | 9.00 S$ | 9.29 S$ | +3.17 % |
| Apples (1kg) | 4.00 S$ | 3.14 S$ | -21.54 % |
| Oranges (1kg) | 4.00 S$ | 3.27 S$ | -18.22 % |
| Tomato (1kg) | 4.00 S$ | 2.32 S$ | -41.91 % |
| Potato (1kg) | 2.60 S$ | 0.97 S$ | -62.60 % |
| Lettuce (1 head) | 2.00 S$ | 0.57 S$ | -71.30 % |
| Water (1.5 liter bottle) | 1.50 S$ | 1.24 S$ | -17.54 % |
| Bottle of Wine (Mid-Range) | 30.00 S$ | 20.76 S$ | -30.81 % |
| Domestic Beer (0.5 liter bottle) | 5.00 S$ | 1.24 S$ | -75.26 % |
| Imported Beer (0.33 liter bottle) | 6.00 S$ | 2.83 S$ | -52.80 % |
| Pack of Cigarettes (Marlboro) | 12.00 S$ | 2.47 S$ | -79.38 % |
| Transportation | [Edit] | [Edit] | |
| One-way Ticket (Local Transport) | 1.80 S$ | 2.70 S$ | +50.20 % |
| Monthly Pass (Regular Price) | 90.00 S$ | ? | |
| Taxi Start (Normal Tariff) | 3.20 S$ | 2.56 S$ | -19.89 % |
| Taxi 1km (Normal Tariff) | 0.60 S$ | 2.43 S$ | +305.10 % |
| Taxi 1hour Waiting (Normal Tariff) | 17.00 S$ | 7.25 S$ | -57.35 % |
| Gasoline (1 liter) | 2.10 S$ | 1.24 S$ | -41.10 % |
| Volkswagen Golf 1.4 90 KW Trendline (Or Equivalent New Car) | 130,000.00 S$ | 33,942.18 S$ | -73.89 % |
| Utilities (Monthly) | [Edit] | [Edit] | |
| Basic (Electricity, Heating, Water, Garbage) for 85m2 Apartment | 200.00 S$ | 65.43 S$ | -67.29 % |
| 1 min. of Prepaid Mobile Tariff Local (No Discounts or Plans) | 0.16 S$ | 0.19 S$ | +18.76 % |
| Internet (6 Mbps, Unlimited Data, Cable/ADSL) | 40.00 S$ | 92.77 S$ | +131.92 % |
| Sports And Leisure | [Edit] | [Edit] | |
| Fitness Club, Monthly Fee for 1 Adult | 120.00 S$ | 104.33 S$ | -13.06 % |
| Tennis Court Rent (1 Hour on Weekend) | 10.00 S$ | 9.72 S$ | -2.75 % |
| Cinema, International Release, 1 Seat | 10.00 S$ | 2.61 S$ | -73.92 % |
| Clothing And Shoes | [Edit] | [Edit] | |
| 1 Pair of Jeans (Levis 501 Or Similar) | 120.00 S$ | 45.08 S$ | -62.43 % |
| 1 Summer Dress in a Chain Store (Zara, H&M, ...) | 70.00 S$ | 28.32 S$ | -59.54 % |
| 1 Pair of Nike Shoes | 120.00 S$ | 135.25 S$ | +12.71 % |
| 1 Pair of Men Leather Shoes | 120.00 S$ | 114.01 S$ | -4.99 % |
| Rent Per Month | [Edit] | [Edit] | |
| Apartment (1 bedroom) in City Centre | 3,200.00 S$ | 708.01 S$ | -77.87 % |
| Apartment (1 bedroom) Outside of Centre | 2,000.00 S$ | 283.21 S$ | -85.84 % |
| Apartment (3 bedrooms) in City Centre | 6,000.00 S$ | 1,202.77 S$ | -79.95 % |
| Apartment (3 bedrooms) Outside of Centre | 3,500.00 S$ | 742.14 S$ | -78.80 % |
| Buy Apartment Price | [Edit] | [Edit] | |
| Price per Square Meter to Buy Apartment in City Centre | 19,375.04 S$ | 2,026.92 S$ | -89.54 % |
| Price per Square Meter to Buy Apartment Outside of Centre | 10,763.91 S$ | 914.52 S$ | -91.50 % |
| Salaries And Financing | [Edit] | [Edit] | |
| Median Monthly Disposable Salary (After Tax) | 3,000.00 S$ | 309.22 S$ | -89.69 % |
| Mortgage Interest Rate in Percentanges (%), Yearly | 2.60 | 10.50 | +303.85 % |
| Last update | April, 2013 | April, 2013 | |
| Contributors (past 18 months) | 480 | 21 | |
| Currency: SGD |
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