New Delhi: Mumbai remains the most expensive city in India for expatriates, followed by Delhi, according to Mercer’s 2024 Cost of Living Survey. Mumbai ranked as the 21st most expensive city in Asia, followed by Delhi at 30. Despite global economic challenges, India has stood its ground in the ranks, according to Mercer’s India Mobility leader Rahul Sharma. He cited the following factors behind India’s ability to maintain its rank:
Employment
Rising middle class
Overall economic growth
To be sure India’s affordability remained beneficial for the country in terms of attracting multinational organisations. The Mercer Cost of Living City ranking covers 226 cities compared across 200 parameters such as:
Location
Transportation
Food
Clothing
Household goods
Entertainment
RELEASE: Research found that Hong Kong remains the world’s most expensive city for #international employees. Discover which cities made the full list in our global city ranking. https://t.co/FXzk7hHI1v #HR #Talent pic.twitter.com/te1jleAkWc
— Mercer (@mercer) June 16, 2024
How India’s most expensive cities rank in the World
Hong Kong remains the most expensive city for expats in the world, according to Mercer, while Mumbai ranks 136, up 11 spots this year. Here’s how top Indian cities are ranked on the global list:
Rank
City
136
Mumbai
164
New Delhi
189
Chennai
195
Bengaluru
202
Hyderabad
205
Pune
207
Kolkata
World’s most expensive cities
Rank
City
Country
1
Hong Kong
Hong Kong SAR
2
Singapore
Singapore
3
Zurich
Switzerland
4
Geneva
Switzerland
5
Basel
Switzerland
6
Bern
Switzerland
7
New York
United States
8
London
United Kingdom
9
Nassau
Bahamas
10
Los Angeles
United States
Factors that affected city rankings
According to Mercer, some of the key factors that affected city rankings were:
Fluctuations in inflation as well as exchange rate which directly impact pay
Economic and geopolitical volatility directly impacted expenses related to housing, utility bills, local taxation as well as education.
Hing Kong, Singapore and Zurich witnessed a surge in housing prices, transport costs and generally more expensive goods and services
Mumbai remains the most expensive city in India, according to Mercer’s 2024 Cost of Living Survey. Check Delhi’s rank. Biz News Business News – Personal Finance News, Share Market News, BSE/NSE News, Stock Exchange News Today
