Once termed The Sleeping Dragon, China has awoken from a sweet slumber of the depreciated Yuan to find a world in financial despair. The giant unfurls his wings, full of factories ready to manufacture the world’s good for a dime a dozen, and flexes his massive military muscles off the coast of Somalia while the world looks on.
Though still labeled a third world country, China’s major cities, Beijing, Shanghai, Guangzhou, Hong Kong and others, have surpassed the US in their creative architecture, enticing jobs, and innovative apartments. Indeed, the cities in China offer amazing nightlife, unique culture, a plethora of drinking and dining extravaganzas and career opportunities. So, what does it cost to partake in this giant’s emergence?
The cost of living in China has, in recent months, declined somewhat thanks to the burst of the housing bubble. Naturally, as with US and UK housing, this leaves thousands of people holding property that has declined in value, but for which they continue to owe an inordinate amount of cash.
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By far the most common question I receive from people (men) interested in moving to Panama or one of its Central American sisters is “What is the cost of living?” I´ve been in Panama for two months now and knowing that I would eventually do this piece for readers, I have paid careful attention to what it costs to operate.
I suppose I have had an advantage here because I’ve lived in several developing nations and it seems that once you can adjust to the financial aspects of one, it is that much easier in the next. People arriving here from Europe or the U.S. will immediately notice that this place is cheaper than home but it will take them some time to realize the available savings because the locals won’t necessarily give you accurate prices and will sometimes simply try to rip you off.
Whether its produce or prostitutes the two-tier pricing system is definitely in practice here for those bearing the mark of the Gringo. A good example would be a young man from Florida that came to the Miami Bar and had a few drinks with us. There were girls everywhere, all with services for sale. Eventually he took a stunning Colombian back to his room.
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So you read the “Jobs in the Middle East” article and now you got a gig making a couple hundred grand a year, maybe you have a 6-fig internet business or you play poker online and you want to live the big life in Bangkok. Well with a good chunk of cash in your pocket you can live the Expat Rockstar life living in a big serviced apartment with 42’ LCD’s in every room and hang out at clubs surrounded by beautiful women five nights a week.
Below is the Cost of Living for a High budget, this is basically what we spend every month on the ERS HQ here in Bangkok. When you look at the prices you may think “dang dude” but remember; this is for a top floor serviced apartment, going out to clubs regularly, eating out everyday and dating allot… In a Major International City! This is still ¼ what James G spent every month living in Washington D.C. (all figures are in USD).
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*Note: After looking over this article I realized that this is more like a low budget example, not a medium budget
Last week a Friend of mine in the states asked me how much it would cost for her to live in Jakarta, Indonesia. Not an exotic lifestyle eating at the Ritz Carlton and drinking Crystal nor the starving expat life ether – more like the “average Joe or Jane” expat lifestyle.
My lifestyle is a bit on the “not average” expat scale now so I asked a British friend of mine whose lifestyle better represents the average independent expat to break down his monthly expenses. He is an English teacher for a private school here in Jakarta and also makes some money with a website and freelance photography.
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If you are thinking of moving to Bangkok, it is entirely possible to live to live better than back home – for less. The key is to live like a local, albeit a middle class local.
There is an abundance of cheap apartments available, plus you can always find delicious, filling meals for less than a dollar, and there is no shortage of fun in the Land of Smiles.
I make ends meet by exporting goods from Thailand to the U.S., writing, and from sports and wildlife photography. If you can manage your expenses properly, you can work less and have more fun while still being able to splurge occasionally.
To get an idea of the Thailand’s cost of living, take a glimpse at these figures (in U.S. dollars):
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