Bangkok ranks 11th globally for luxury lifestyle costs in 2025, rising 6 spots
Bangkok moves up to 11th in global rankings for luxury living costs, driven by high prices for lifestyle items such as luxury shoes and cars.
According to the latest Julius Baer Global Wealth and Lifestyle Report for 2025, Bangkok has surged to 11th place among the world’s most expensive cities for luxury living. The report highlights that Thailand’s capital has particularly high prices for specific goods, such as women's luxury footwear and high-end automobiles, reflecting the spending habits of affluent individuals who are increasingly favouring branded and high-quality products. However, some services remain affordable compared to other major global cities.
The Julius Baer Global Wealth and Lifestyle Report 2025 provides a comprehensive overview of economic growth and the spending behaviours of High-Net-Worth Individuals (HNWIs) worldwide, particularly in the Asia-Pacific region, which saw a 4.5% economic growth in 2024, slightly down from 5.1% in 2023 but still outpacing the global average of 3.3%. The number of HNWIs in Asia grew by 5% from the previous year, with 855,000 people now falling into this category.
The report also forecasts that between 2025 and 2028, Asia will generate 47.5% of the world’s new wealthy individuals, with China and India being the primary drivers of this growth.
The Lifestyle Index of the report notes that HNWIs are increasingly prioritising spending on experiences, such as travel, health, and fine dining, over traditional luxury goods. In the Asia-Pacific region, prices for some luxury items, such as technology, have fallen by an average of 21.4%, while business class flights have increased by 12.6%, showing a trend where the wealthy are willing to spend more on comfort and convenience.
The report ranks 25 cities worldwide for the highest cost of living in terms of quality lifestyle. Singapore remains at the top for the third consecutive year, with its high cost of living offset by political stability, top-tier infrastructure, and excellent healthcare and education systems, which continue to attract wealthy investors and residents.
In contrast, Hong Kong, ranked 3rd, maintains its position as a key global financial hub with low taxes, an international community, and an investment-based residency policy. Despite a 26% drop in luxury property prices this year, it remains a popular destination for the wealthy, especially from Mainland China.
Notably, Bangkok has moved up six positions from last year, reaching 11th place globally, making it the most expensive city in Southeast Asia for luxury living. High-end lifestyle items, such as luxury women’s shoes and cars, are more expensive than in many cities around the world.
While services such as nail treatments and dining out remain relatively affordable compared to other major cities like Tokyo (ranked 17th) and Shanghai (ranked 6th), cities such as Manila and Mumbai, ranked 23rd and 20th respectively, continue to offer a more affordable cost of living, especially in housing and tourism categories.
This report not only reflects changes in the global economy but also underscores the growing prominence of the Asia-Pacific region as a new wealth centre. With cities like Bangkok playing an increasingly important role in the high-end lifestyle sector, it signals a shift in the mindset and behaviour of the wealthy, moving towards a greater focus on life experiences and lifestyle needs.
