Delhi 2nd costliest Indian city for expats
Delhi continued to be ranked the second costliest city in India for expats, even as it moved up 25 places in market analyst Mercer’s 21st Annual Cost of Living Survey 2015, which lists 207 cities worldwide.
The survey named Luanda, the capital of Angola, as the world’s costliest city for expats to live in, while Mumbai was ranked India’s most expensive metro.
Delhi was ranked 132 in the list which places cities in the descending order in terms of living costs for expatriates, with the costliest cities on top. Mumbai made the highest jump in the list, climbing 66 places to rank 74 — ahead of cities such as Dallas (77), Munich (87), Luxembourg (94), Frankfurt (98) and Vancouver (119).
Other Indian cities in the list were Chennai (157), Bengaluru (183) and Kolkata (193), all adjudged to be more expensive than last year. In the Indian subcontinent, Karachi (205) was ranked the world’s third least expensive city.
Mercer said Indian cities, particularly Mumbai, had climbed up the rankings due to rapid economic growth, inflation on the goods and services basket and a stable currency against the US dollar. Mumbai witnessed higher inflation over the past year as compared to other metro cities, higher cost of fuel and transportation, and increased prices of food items, home services and rentals.
Hong Kong (2), Singapore (4), Shanghai (6), Beijing (7) and Seoul (8) were among the most expensive places in the world as Asian cities dominated the top 10 rankings along with major cities in Switzerland, such as Zurich (3) and Geneva (5).
The world’s least expensive cities for expatriates, according to the survey, were Bishkek in Kyrgyz (207) and Windhoek in Namibia (206).
Mercer’s survey is one of the world’s most comprehensive, and is designed to help multinational companies and governments determine compensation allowances for their expatriate employees. New York is used as the base city, and all cities are compared against it. Currency movements are measured against the US dollar.
The survey includes 207 cities across five continents and measures the comparative cost of more than 200 items in each location, including housing, transportation, food, clothing, household goods, and entertainment.
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Source:Timesofindia
