Indian cities show an increase in rankings in Mercer’s Annual Cost Of Living Survey, with Mumbai (19th in Asia) & New Delhi (24th in Asia) placed among the TOP 25 most expensive cities in Asia for expatriates living and working overseas, among those surveyed.
As per the 2020 Cost of Living Ranking, Hong Kong takes the lead once again. The world’s least expensive cities for expatriates, according to the study, are Tunis (209), Windhoek (208), and Tashkent tied with Bishkek (206).
The study also finds that consumer buying habits have been impacted by the COVID-19 outbreak, with a relative increase in demand for certain categories of goods such as popular ‘comfort food’, cleaning supplies and home entertainment.
Access to relevant data about the cost and location of assignments worldwide is especially important as organisations re-assess and adjust their talent strategies and mobility programs in the wake of COVID-19, striving to balance empathy with economics to ensure fair compensation and efficient support for their expatriates throughout the crisis.
Mercer is the leading provider of data on cost of living and housing for employees sent to work abroad. As part of the ongoing research, Mercer produces these annual rankings of the cost of living in more than 200 of the most prevalent assignment destinations for expatriate employees. The rankings demonstrate how currency fluctuation and shifts in the prices of goods and services can affect the purchasing power of expatriate employees. Multinational companies rely on Mercer for timely and accurate information to compensate their skilled professionals who take on international assignments. Cost of Living Reports are based on the multinational approach to cost of living, which assumes expatriates spend the same in the host location, regardless of home country/market. City-to-city indices help set appropriate allowances.