Pune has been ranked 205th in Mercer's '2024 Cost of Living Survey', rising eight points from last year, while Mumbai has climbed 11 places to rank 136th. Other Indian cities in the ranking include New Delhi (164), which has risen four spots; Chennai (189), which has dropped five spots; Bengaluru (195), which has dropped six spots; Hyderabad (202), which remained stable; and Kolkata (207), which has risen four spots.
"In the face of global economic challenges, India has remained largely resilient," said Rahul Sharma, India Mobility Leader at Mercer. The Indian economy has experienced significant growth, primarily driven by domestic demand and a thriving services sector. Factors such as employment growth, a rising middle class, and overall economic growth have positively impacted the cost of living in the country, according to the survey.
"Despite Mumbai's rise in rankings, the overall affordability of Indian cities remains a key advantage for multinational organisations or Indian companies looking to attract global talent," Sharma mentioned.
Mumbai and Pune remain the most expensive in terms of energy and utility costs, said the survey.
"Our thriving economy, fueled by domestic demand and a robust services sector, offers a stable environment for global talent," said Sharma.
Globally, Hong Kong has once again claimed the top spot as the most expensive city to live in, followed by Singapore, Zurich, Geneva, Basel, Bern, New York City, London, Nassau, and Los Angeles.
Meanwhile, Nigeria's Abuja and Lagos are the least expensive on the list, occupying the final positions of 226 and 225 respectively. Islamabad in Pakistan is at 224.
The factors that influence the cost of living include inflation, exchange-rate fluctuations, heightened economic and geopolitical volatility, etc.
| Rank | City |
| 136 | Mumbai |
| 165 | New Delhi |
| 189 | Chennai |
| 195 | Bengaluru |
| 202 | Hyderabad |
| 205 | Pune |
| 207 | Kolkata |
