Mumbai among World's 20 most expensive cities for expatriates

A survey by global consulting leader Mercer has concluded that Mumbai is India's most expensive city and among the costliest cities in Asia for expatriates.

The city is considered as the most expensive since residential housing prices fall among the most highest in the world. As per Mercer's 25th Annual Cost of Living Survey, Mumbai was ranked at the 67th position out of the 209 cities that were surveyed. The report implied that:

"Costs of items such as eating out and utilities show a decline, however, residential housing costs remain among the most expensive in the world, contributing to its top rankings in Asia and globally".

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The other Indian cities in the list include, New Delhi at 118th place, Chennai on 154th, Bengaluru at 179th and Kolkata 189th. All the four cities have moved down from last year. The India Global Mobility Practice Leader at Mercer, Padma Ramanathan said:

"A relatively slower price increase in surveyed Indian cities and major currencies weakening against the US dollar has pushed our Indian cities down in the ranking,"

The survey noted that eight out of the top ten of the world's most expensive cities for expatriates are Asian cities, resulting from high costs for expatriate consumer goods and a dynamic housing market. Hong Kong bagged the position as the costliest city in the world for a second consecutive year followed by Tokyo, Singapore and Seoul. Other notable cities include Zurich, Ashgabat, Beijing, New York City and Shenzen which feature in the top ten list. The survey also suggests that the least expensive cities for expatriates are Tunis, Tashkent and Karachi. The survey also showed that across continents, Indians have been moving ahead with major talent mobilization into countries like the United States mainly in the hi-tech sector. Other countries where Indians have made formidable progress include UK, UAE, Kenya and Bangladesh. 

The survey says that factors like currency fluctuations, inflation costs for goods and services and volatility in accommodation prices have contributed to the overall cost of expatriate packages for individuals who take up international assignments. 

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The figures for Mercer's cost of living and rental accommodation cost comparisons are taken from a survey that was conducted in March 2019. Exchange rates from that time and Mercer's international basket of goods and services from its cost of living survey have been used as base measurements.