Mumbai ranks the highest in terms of costliest cities in India for expats in 2024, while globally it has gained 136th place-up 11 spots from the previous year. Delhi is at 165th place in the world-moving up four points.
According to Mercer's Cost of Living City rankings, Hong Kong, Singapore, and Zurich are the most expensive cities in the world for expats in 2024. The cities held their rankings from the previous year, with Abuja, Lagos, and Islamabad having the lowest cost of living.
As far as other Indian states are concerned in the world's costliest list, Chennai dropped five points and Bengaluru slipped six points to 189 and 195 respectively. Hyderabad is ranked 202, Pune 205, and Kolkata 207 on the list of the most expensive cities in the world for foreigners. Information on global mobility was gathered from an analysis of 226 locations worldwide for Mercer's Cost of Living City Ranking 2024 list. More than 200 products, including lodging, transportation, food, clothes, and entertainment, were evaluated in the list.
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The survey's base city was New York City, and the results showed that several variables, including inflation, fluctuations in currency rates, economic and geopolitical unpredictability, and an increase in conflicts, all contributed to the rise in the cost of living.
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Why Hong Kong Is World's Costliest City?
The cost of living in cities like Hong Kong is high which is contributed by factors like expensive housing, high transportation costs, and costly goods and services, the survey showed.
According to the survey currency depreciation resulted is lowering the living cost in Islamabad, Lagos and Abuja.