According to the 2024 Cost of Living survey conducted by HR consultancy Mercer, Mumbai has emerged as India’s most expensive city for expatriates to live in. This ranking solidifies Mumbai’s position as one of the costliest cities not just in India but also in Asia.
The survey revealed that Mumbai has consistently held the top spot among India’s most expensive cities since the survey’s inception in 2013. Globally, Mumbai climbed 11 places from the previous year to rank 136th among 226 cities surveyed. The top 10 most expensive cities worldwide include Hong Kong, Singapore, Zurich, Geneva, Bern, New York City, London, Nassau, and Los Angeles.
While Mumbai stands out as the priciest city in India, other major Indian cities also made their mark in the rankings. New Delhi secured the 164th position, Chennai ranked 189th, Bengaluru came in at 195th, Hyderabad at 202nd, Pune at 205th, and Kolkata at 207th.
In terms of the Asia region, Mumbai is now ranked as the 21st most expensive city for expatriates, with Delhi following closely at the 30th position. Rahul Sharma, India mobility leader at Mercer, attributed this trend to factors such as employment growth, a rising middle class, and a resilient economy, all of which have positively impacted the cost of living in India.
Despite Mumbai’s high cost of living, Sharma highlighted that Indian cities continue to offer overall affordability, which is advantageous for multinational organizations and Indian companies seeking to attract global talent.
The survey also shed light on specific cost categories, highlighting Mumbai and Pune as the most expensive for energy and utility costs. Transportation costs were noted as highest in Mumbai, followed by Bengaluru. Additionally, the survey revealed that alcohol and tobacco items are least expensive in Delhi but most expensive in Chennai.
Sources By Agencies
