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Singapore takes top spot as Asia is the world’s most expensive region according to spending patterns of the super-rich: report
By Jerry
- Asia remains the most costly region in the world to live in, with Singapore taking the number one spot, followed by Shanghai and Hong Kong
- The survey confirms Asia is the most costly region to live well for the fourth year in a row
Asia remains the most costly region in the world to live in, with Singapore taking the number one spot, followed by Shanghai and Hong Kong, according to Julius Baer’s latest Global Wealth and Lifestyle report.
The report looks at a basket of 12 consumer goods and eight services that reflect the spending patterns of high-net-worth individuals (HNWIs). It showed that prices for all goods and services have increased on average by 13 per cent in local currencies and by 6 per cent in US dollar terms over the past 12 months.
“Hong Kong and Singapore are long considered live-able, stable, and cosmopolitan,” said Mark Matthews, head of research for Asia-Pacific at Julius Baer. The fourth edition of the report looks at data from November 2022 to March 2023.
