Mumbai Ranked as India’s Most Expensive City for Expats in 2024 Cost of Living Survey

Mercer Survey Reveals Cost of Living Rankings for Indian Cities

Mumbai has been ranked as India’s most expensive city for expatriates, according to the 2024 Cost of Living survey conducted by HR consultancy Mercer. The city has maintained its top position among India’s most expensive cities since the survey’s inception in 2013. Globally, Mumbai climbed 11 places from last year, now ranking 136th among 226 cities surveyed worldwide.

Asian and Global Rankings

In Asia, Mumbai is ranked as the 21st most expensive city for expats, while Delhi holds the 30th position. Globally, the top 10 most expensive cities for expats are:

1. Hong Kong
2. Singapore
3. Zurich
4. Geneva
5. Bern
6. New York City
7. London
8. Nassau
9. Los Angeles

Other Indian cities featured in the global rankings include New Delhi at 164th, Chennai at 189th, Bengaluru at 195th, Hyderabad at 202nd, Pune at 205th, and Kolkata at 207th.

Factors Influencing Cost of Living

Rahul Sharma, the India mobility leader at Mercer, stated, “Factors such as employment growth, a rising middle class, and a largely resilient economy positively impacted the cost of living in India. 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.”

Cost of Living Insights

• Energy and Utility Costs: Mumbai and Pune are the most expensive cities in India for energy and utilities.
• Transportation Costs: Mumbai has the highest transportation costs, followed by Bengaluru.
• Alcohol and Tobacco Costs: Delhi offers the least expensive alcohol and tobacco items, while these items are most expensive in Chennai.

Attracting Global Talent

Despite Mumbai’s position as the most expensive city in India for expats, Indian cities’ overall affordability remains a significant advantage for attracting global talent. The combination of economic growth and cost-effective living makes Indian cities attractive destinations for expatriates and multinational companies.

Conclusion

The 2024 Cost of Living survey by Mercer highlights the varying costs across Indian cities, with Mumbai leading as the most expensive city for expatriates. While the city continues to climb the global rankings, the affordability of other Indian cities provides a balanced perspective for expatriates considering relocation to India.

Stay updated with Sarhind Times for more detailed coverage on cost of living trends and expatriate insights in Indian cities.