The financial capital of India, Mumbai has topped the list of most expensive cities for expatriates in India in the 2018 Cost of Living Survey by Mercer, a New York-based global consulting leader in advancing health, wealth and careers.
Mumbai has moved up two spots and is listed 55th, higher than the famous cities like Melbourne (58), Frankfurt (68), Buenos Aires (76), Stockholm (89) and Atlanta (95).
Meanwhile, New Delhi has managed to claw its way out of the top 100 list, with a drop in the rankings by four positions. Bengaluru is at number 170, Chennai at 144 and Kolkata stands at 182, according to the survey.
Hong Kong leads as the world’s costliest city to live in the survey, surpassing Luanda. Only two European cities, Zurich (3) and Bern (10) are among the top 10 list of most expensive cities, says the survey.
"While cities such as Melbourne and Buenos Aires have fallen in their rankings, Mumbai's jump in ranking is also attributable to continued surge in prices of food, alcohol and domestic supplies," it said.
"Costs of sporting, leisure-related activities have also played a role to rising prices, followed in part by transportation costs, which includes taxi fares and cost of registration and road taxes. Real estate prices in Mumbai remain among the highest in the world for residential purposes", the survey noted.
The 2018 survey ranked 209 cities across five continents, measuring the comparative cost of more than 200 items in each location including housing, transportation, food, and clothing.
Asian financial hubs dominate the list with Tokyo figuring at second place, Singapore at fourth, Seoul at fifth, Shanghai at seventh and Beijing at ninth place.
Outside of Asia, European and African cities were among the priciest cities for employees.
Mercer's widely recognised survey is one of the world's most comprehensive and is designed to help multinational companies and governments determine compensation strategies for their expatriate employees.
For this survey of global rankings, New York City is used as the base city for all comparisons, and currency movements are measured against the US dollar.
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