Mumbai is India’s most costly city for expats, Delhi and Chennai follow: Report
Mumbai, the financial capital of the country and home to the Hindi film industry, still remains.
The most expensive city in the country for expatriates, according to a survey conducted by HR consultancy Mercer. Mumbai is notably expensive in terms of personal care, energy and utilities, transportation, and housing rentals, as per Mercer’s 2024 Cost of Living survey.
Globally, Hong Kong retained its position as the most expensive city.
Mumbai, the financial capital of the country and home to the Hindi film industry, has climbed several spots to become costlier, a trend also seen for Delhi.
In the list, Mumbai has jumped 11 places to rank 136, while Delhi has risen by four spots to 164. Conversely, Chennai has dropped five places to 189, Bengaluru has decreased by six spots to 195, and Hyderabad remains unchanged at 202. Meanwhile, Pune saw a jump of eight spots to 205, and Kolkata has moved up four spots to 207.
In Asia, Mumbai stands as the 21st most expensive city with Delhi in the 30th position among surveyed locations.
“Despite the global economic challenges, India has shown resilience in our 2024 Cost of Living Survey. Even though Mumbai’s ranking has increased, the overall affordability of Indian cities remains a significant draw for multinational organisations or Indian companies aiming to attract global talent. Our strong economy, driven by domestic demand and a robust services sector, provides a stable environment for global talent. As global housing costs and inflation rise, India’s growth story and improving living standards make it an attractive destination for international assignments,” Rahul Sharma, India Mobility Leader at Mercer said.
Delhi experienced the highest increase in housing rentals, with a 12-15 per cent rise for expats. Mumbai saw a 6-8 per cent increase, Bengaluru 3-6 per cent, and Pune, Hyderabad, and Chennai 2-4 per cent, the report stated.
Transportation costs, including those for automobiles and auto parts, are most expensive in Mumbai, followed by Bengaluru. On the other hand, Kolkata offers the most economical prices for milk and dairy products, bread products, beverages, oils, fruits, and vegetables, with Pune following. Alcohol and tobacco items are least expensive in Delhi.
In terms of personal care products, Mumbai is the most expensive, followed by Chennai, with Kolkata being the least expensive. Energy and utility costs are highest in Mumbai, followed by Pune.
On the global stage, the top five cities in terms of cost of living have seen no changes in rankings. Hong Kong maintains the top spot, followed by Singapore, Zurich, Geneva, Basel, Bern, New York City, London, Nassau, and Los Angeles.