One of the major cosmopolitan cities in India, Mumbai, ranked as the most expensive city for expatriates, as per the recent 2024 Cost of Living survey by HR consultancy Mercer.
The city with its luxury lifestyles and major economic hubs, maintained its tops position among other Indian cities since the survey began in 2013. Compared to the previous year, the city has climbed 11 places, now ranking 136th out of 226 cities globally, according to the report.
The other Indian Cities in the rankings of the survey include:
New Delhi - 164th (up four spots)
Chennai - 189th (down five spots)
Bengaluru - 195th (down six spots)
Hyderabad - 202nd (stable)
Pune - 205th (up eight spots)
Kolkata - 207th (up four spots)
Within Asia, Mumbai held the rank of 21st as the most expensive city for living, while the country's capital New Delhi ranked the 30th position.
Cost of Goods and Services
Based on the sectorial classification of various factors such as food, transportation, energy and so, the data shows the following:
Energy and Utilities- Mumbai and Pune are the most expensive.
Transportation - Mumbai has the highest costs, followed by Bengaluru.
Alcohol and Tobacco - Cheapest in Delhi, most expensive in Chennai.
Personal Care Products - Most expensive in Mumbai, followed by Chennai, and least expensive in Kolkata.
Food Items - Milk, dairy, bread, beverages, oils, fruits, and vegetables are most economical in Kolkata, followed by Pune.
Housing Costs
As per the report, the housing rental have seen a significant increase across the Indian cities, which include:
Bengaluru - 3-6 per cent increase
Pune, Hyderabad, Chennai - 2-4 per cent increase
Delhi - 12-15 per cent increase (the steepest)
Mumbai - 6-8 per cent increase
Kolkata - Less than 2 per cent increase (the slowest)
Mumbai Port-Representative Image | File
Global Rankings - Top 10 most expensive cities in the world
The top 10 expensive cities in the world include: Hong Kong, Singapore, Zurich, Geneva, Basel, Bern, New York City, London, Nassau, and Los Angeles.
Global Economic Factors
The survey also added the impact of global factors such as geopolitical conflicts, inflation, and surging housing rates. Moreover, it highlighted about the stability of the Indian rupee against the US dollar which has helped the Indian cities to maintain their position in the rankings.
