Mumbai Tops India’s Costliest Cities, Islamabad Ranks Cheapest Globally

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Mumbai has been ranked as the most expensive city in India for expatriates, securing the 136th position globally, according to Mercer’s Cost of Living City Rankings 2024. This marks an 11-spot climb from last year. Delhi also moved up four points to 165th place globally.

Globally, Hong Kong, Singapore, and Zurich retained their positions as the top three costliest cities for expats, reflecting no change from the previous year. In contrast, Islamabad, Lagos, and Abuja were listed as the least expensive cities worldwide.

Indian Cities in the Global Rankings
Other Indian cities featured in the global list experienced mixed changes. Chennai slipped five places to 189th, while Bengaluru dropped six spots to 195th. Hyderabad, Pune, and Kolkata ranked 202nd, 205th, and 207th respectively. Mercer’s list assessed 226 cities, analyzing the costs of over 200 items including housing, transportation, food, clothing, and entertainment.

Factors Influencing Cost of Living
The base city for the survey was New York City. The survey highlighted several factors contributing to the cost of living variations such as inflation, exchange rate fluctuations, economic instability, geopolitical volatility, and increasing global conflicts.

High Cost of Living in Hong Kong
Hong Kong remains the most expensive city globally due to its exorbitant housing costs, high transportation expenses, and pricey goods and services. Conversely, currency depreciation played a significant role in lowering the cost of living in Islamabad, Lagos, and Abuja.

Other Expensive Cities Worldwide
European cities dominate the top 10 list, with London ranking 8th, Copenhagen 11th, Vienna 24th, Paris 29th, and Amsterdam 30th. In the Middle East, Dubai is the priciest city for international employees, ranked 15th. Uruguay stands as the most expensive place in South America at 42nd rank, while New York City tops North America at 7th rank.

Mercer’s Cost of Living City Rankings 2024 provides a comprehensive analysis of the global mobility landscape, helping expatriates and international employees navigate the varying costs of living across the world.

Sources By Agencies