Japan Becoming Cheaper Place to Send Workers 6th place !- Wall Street Journal

Whoop! Abenomics is working , watch the flow of people back to Tokyo / Japan .

Lets hope Abenomics continues

Tony Evans

Japan Becoming Cheaper Place to Send Workers- Wall Street Journal Full article

Not only is Japan is becoming a cheaper place to swill your favorite sake, according to new research it’s also becoming a more affordable place for companies to send workers.

Thanks to its dramatic currency depreciation in recent months, Japan has started to shed its former notoriety as one of the priciest travel destinations on the planet. Between September and May, the Japanese yen plunged by around 30% against the U.S. dollar. Tourists have responded enthusiastically in droves, with the number of foreign visitors coming to Japan jumping 26% in March over the year before.

Likewise, human-resources consulting company ECA International said Thursday that for the first time in three years its research found that Tokyo no longer claims the world’s title as the most costly place in the world to send workers from overseas. This year, the city was overtaken by Norway’s capital of Oslo, and currently ranks as the sixth-most expensive location for expat workers in the world.

“It’s now cheaper, relatively, to employ staff in Japan and send staff there,” says Lee Quane, ECA’s Asia regional director, adding that he expects more banking and finance companies to be encouraged to add workers to the region. He also notes that it’s becoming more expensive for Japanese companies to send employees to certain locations overseas, as they now have to offer higher cost-of-living allowances.

Meanwhile, Mr. Quane says he expects the currency to continue to depreciate, though not necessarily as quickly as it has in recent months, and that Japanese locations will continue to grow cheaper in the coming months as a consequence.

Consistent with last year, across Asia, the cheapest place to send international assignees remains Karachi or Islamabad, Pakistan. In mainland China, Beijing continues to be the mainland’s most expensive city, ahead of Shanghai, Guangzhou and Shenzhen.

ECA’s survey also found that Seoul jumped significantly in its rankings and now clocks in as Asia’s third-most expensive location—up from number seven last year—thanks to greater inflation and currency appreciation. “Korea is starting to catch up with Japanese locations [in terms of price] and even take over in some places,” says Mr. Quane. According to ECA data, the cost of living in Seoul now eclipses Japanese cities including Yokohama, Kobe and Osaka.

ECA’s cost-of-living analysis includes factors such as the price of food and drink, as well as clothing and miscellaneous services. It doesn’t factor in housing costs, car purchases or school fees.


  1. Reblogged this on Why live and work in Japn / Tokyo ? and commented:

    At last !yattah

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